Midway through trading Wednesday, the Dow traded up 0.34 percent to 20,574.69 while the NASDAQ climbed 0.22 percent to 5,795.34.
The S&P also rose, gaining 0.15 percent to 2,341.06.
Leading and Lagging Sectors
Non-cyclical consumer goods & services shares climbed by 0.78 percent in trading on Wednesday.
In trading on Wednesday, utilities shares fell by 0.62 percent. Meanwhile, top losers in the sector included Hawaiian
Electric Industries, Inc. (NYSE: HE), down 5 percent, and
Chesapeake Utilities Corporation (NYSE: CPK), down 3
percent.
Top Headline
PepsiCo, Inc. (NYSE: PEP) reported upbeat earnings
for its fourth quarter on Wednesday.
PepsiCo earned $1.20 per share in the fourth quarter on revenue of $19.52 billion. Wall Street analysts were expecting the
company to earn $1.16 per share on revenue of $19.51 billion.
PepsiCo guided its full fiscal year 2017 earnings per share to be $5.09, which fell short of the $5.16 per share analysts were
expecting.
Equities Trading UP
Evoke Pharma Inc (NASDAQ: EVOK) shares shot up 48
percent to $3.87 after the company disclosed that the FDA has exempted the company from requirement for a Human Factor Validation
Study.
Shares of Cinedigm Corp (NASDAQ: CIDM) got a
boost, shooting up 30 percent to $1.72 following Q3 results. Cinedigm posted consolidated adjusted EBITDA of $11.5 million on
revenue of $24.4 million.
MDC Partners Inc (NASDAQ: MDCA) shares were also
up, gaining 29 percent to $8.70 after the company disclosed that Goldman will make a $95 million investment in the company.
Equities Trading DOWN
Sino-Global Shipping America, Ltd. (NASDAQ: SINO)
shares dropped 25 percent to $3.31. Sino-Global reported a $4.77 million registered direct offering.
Shares of Fossil Group Inc (NASDAQ: FOSL) were
down around 16 percent to $19.11. Fossil Group reported lower earnings for its fourth quarter and issued a weak forecast for the
current quarter.
Auris Medical Holding AG (NASDAQ: EARS) was down,
falling around 20 percent to $0.915 after the company reported the pricing of $10 million offering.
Commodities
In commodity news, oil traded down 0.35 percent to $53.52 while gold traded up 0.52 percent to $1,231.80.
Silver traded up 0.45 percent Wednesday to $17.97, while copper rose 0.24 percent to $2.74.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.35 percent, the Spanish Ibex Index rose 0.84 percent,
while Italy’s FTSE MIB Index fell 0.69 percent. Meanwhile the German DAX gained 0.19 percent, and the French CAC 40 rose 0.59
percent while U.K. shares rose 0.47 percent.
Economics
The Consumer Price Index gained 0.6 percent for January, versus economists’ expectations for a 0.3 percent growth.
U.S. retail sales increased 0.4 percent for January, versus economists’ expectations for a 0.1 percent gain.
The Empire State manufacturing index increased to 18.70 in February, versus a prior reading of 6.50. Economists projected a
reading of 7.00.
U.S. industrial production declined 0.3 percent for January, versus economists’ expectations for a 0.1 percent growth.
U.S. business inventories rose 0.4 percent for December, versus economists’ estimates of 0.4 percent gain.
The NAHB housing market index slipped to 65.00 in February, versus a prior reading of 67.00. Economists projected a reading of
67.00.
Crude-oil supplies increased 9.5 million barrels to 518.1 million barrels for the week ended February 10, the U.S. Energy
Information Administration reported. Analysts were expecting a gain of 3.25 million barrels. Gasoline supplies increased 2.8
million barrels, while distillate stockpiles dropped 700,000 barrels last week.
Philadelphia Federal Reserve President Harker will speak at 12:45 p.m. ET.
The Treasury International Capital data for December will be released at 4:00 p.m. ET.
New York Federal Reserve Bank President William Dudley is set to speak in New York at 7:15 p.m. ET.
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