Following the market opening Wednesday, the Dow traded down 0.07 percent to 20,729.49 while the NASDAQ declined 0.20 percent to
5,853.95. The S&P also fell, dropping 0.19 percent to 2,360.85.
Leading and Lagging Sectors
Non-cyclical consumer goods & services shares climbed by 0.35 percent in trading on Wednesday.
In trading on Wednesday, energy shares fell by 0.97 percent. Meanwhile, top losers in the sector included SunPower
Corporation (NASDAQ: SPWR), down 6 percent, and
Tesoro Logistics LP (NYSE: TLLP), down 6 percent.
Top Headline
DISH Network Corp (NASDAQ: DISH) reported
better-than-expected earnings for its fourth quarter.
DISH posted Q4 earnings of $0.70 per share on revenue of $3.72 billion. However, analysts were expecting earnings of $0.66 per
share on revenue of $3.76 billion.
During the quarter, Dish added around 28,000 net Pay-TV subscribers.
Equities Trading UP
Microbot Medical Inc (NASDAQ: MBOT) shares shot up
67 percent to $8.56 after reporting a technology patent allowance in the U.S.
Shares of Internap Corp (NASDAQ: INAP) got a
boost, shooting up 30 percent to $2.36 as the company reported that it has raised $43 million in a common equity private
placement.
Lantheus Holdings Inc (NASDAQ: LNTH) shares were
also up, gaining 20 percent to $11.18 after reporting strong Q4 results.
Equities Trading DOWN
Argos Therapeutics Inc (NASDAQ: ARGS) shares
dropped 69 percent to $1.38 after the company disclosed that an independent data monitoring committee has recommended
discontinuation of ADAPT Phase 3 trial of rocapuldencel-T in metastatic renal cell carcinoma.
Shares of Servicesource International Inc (NASDAQ: SREV) were down around 33 percent to $4.07 after the company posted downbeat Q4
results and issued a weak revenue forecast.
Entellus Medical Inc (NASDAQ: ENTL) was down,
falling around 19 percent to $13.85 after the company posted a wider-than-expected quarterly loss.
Commodities
In commodity news, oil traded down 1.03 percent to $53.77 while gold traded up 0.10 percent to $1,240.10.
Silver traded down 0.13 percent Wednesday to $18.05, while copper fell 0.74 percent to $2.74.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 slipped 0.16 percent, the Spanish Ibex Index fell 0.93
percent, while Italy’s FTSE MIB Index declined 1.15 percent. Meanwhile the German DAX gained 0.05 percent, and the French CAC 40
fell 0.18 percent while U.K. shares rose 0.10 percent.
Economics
Existing-home sales rose 3.3 percent to an annual pace of 5.69 million in January, the National Association of Realtors
reported. However, economists were expecting a 5.54 million rate.
Federal Reserve Gov. Jerome Powell is set to speak at the Forecaster's Club of New York at 1:00 p.m. ET.
The Treasury will auction 5-year notes at 1:00 p.m. ET.
The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET.
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