Following the market opening Wednesday, the Dow traded up 0.21 percent to 19,897.99 while the NASDAQ declined 0.04 percent to
5,549.61. The S&P also rose, gaining 0.07 percent to 2,270.60.
Leading and Lagging Sectors
Non-cyclical consumer goods & services shares gained around 0.52 percent in trading on Wednesday.
In trading on Wednesday, telecommunications services shares fell by 0.20 percent. Meanwhile, top losers in the sector included
Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE: TKC),
down 3 percent, and China Unicom (Hong Kong) Limited (ADR) (NYSE: CHU), down 2 percent.
Top Headline
SUPERVALU INC. (NYSE: SVU) reported
weaker-than-expected earnings for its third quarter on Wednesday.
Supervalu posted Q3 adjusted earnings of $0.05 per share on revenue of $3.0 billion. Analysts were expecting earnings of $0.13
per share on revenue of $3.8 billion.
Equities Trading UP
Derma Sciences Inc (NASDAQ: DSCI) shares shot up
39 percent to $6.95 after the company agreed to be acquired by Integra Lifesciences Holdings Corp (NASDAQ: IART) for $7.00 per share in cash.
Shares of Enphase Energy Inc (NASDAQ: ENPH) got a
boost, shooting up 24 percent to $1.41 after the company reported a $10 million strategic investment from T.J.Rodgers and John
Doerr.
Kornit Digital Ltd (NASDAQ: KRNT) shares were also
up, gaining 18 percent to $16.50 after the company disclosed that it has signed an agreement with Amazon for digital printing
technology to help Amazon expand on-demand production for garment decoration.
Equities Trading DOWN
Novadaq Technologies Inc. (NASDAQ: NVDQ) shares
dropped 14 percent to $6.57 after the company issued a weak sales forecast.
Shares of Ethan Allen Interiors Inc. (NYSE: ETH) were
down around 8 percent to $32.25 after the company issued a weak earnings outlook for the second quarter.
Signal Genetics Inc (NASDAQ: SGNL) was down,
falling around 20 percent to $13.98 after surging 264.93 percent on Tuesday.
Commodities
In commodity news, oil traded up 0.87 percent to $52.15 while gold traded up 0.18 percent to $1,187.60.
Silver traded down 0.52 percent Wednesday to $16.76, while copper fell 0.08 percent to $2.61.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.20 percent, the Spanish Ibex Index declined 0.40
percent, while Italy’s FTSE MIB Index rose 0.11 percent. Meanwhile the German DAX gained 0.17 percent, and the French CAC 40 fell
0.02 percent while U.K. shares rose 0.31 percent.
Economics
The MBA’s index of mortgage application activity rose 5.80 percent for the week ended January 6, 2017.
The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.
Donald Trump is scheduled to hold a press conference at 11:00 a.m. ET.
The Treasury will auction 10-year notes at 1:00 p.m. ET.
New York Federal Reserve Bank President William Dudley is set to speak in New York at 1:20 p.m. ET.
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