Midway through trading Wednesday, the Dow traded down 0.43 percent to 23,340.74 while the NASDAQ declined 0.99 percent to
6,533.33. The S&P also fell, dropping 0.71 percent to 2,551.00.
Leading and Lagging Sectors
On Wednesday, the non-cyclical consumer goods & services shares slipped by just 0.3 percent.
In trading on Wednesday, telecommunications services shares tumbled 1.27 percent. Meanwhile, top losers in the sector included
America Movil SAB de CV (ADR) (NYSE: AMX), down 6
percent, and NQ Mobile Inc (ADR) (NYSE: NQ) down 4
percent.
Top Headline
The Coca-Cola Co (NYSE: KO) reported upbeat earnings
for its third quarter.
Coca-Cola posted quarterly adjusted earnings of $0.50 per share on revenue of $9.08 billion. However, analysts expected earnings
of $0.49 per share on revenue of $8.72 billion.
Equities Trading UP
Bon-Ton Stores Inc (NASDAQ: BONT) shares shot up
67 percent to $1.02. Bon-Ton reported amendment to its $880 million ABL Tranche A and Tranche A-1 credit facility.
Shares of Cellect Biotechnology Ltd. (NASDAQ: APOP) got a boost, shooting up 16 percent to $9.25 after the company reported a
major breakthrough of its ApoGraft technology. The company disclosed positive results from a 20 patients trial with Tel-Aviv
Ichilov Medical Center.
MacroGenics Inc (NASDAQ: MGNX) shares were also
up, gaining 22 percent to $19.72. Incyte and MacroGenics disclosed a collaboration and licensing agreement for anti-PD-1 monoclonal
antibody MGA012.
Equities Trading DOWN
Acadia Healthcare Company Inc (NASDAQ: ACHC)
shares dropped 25 percent to $32.89 after the company reported downbeat earnings for its third quarter and issued a weak FY17
forecast.
Shares of Trivago NV - ADR (NASDAQ: TRVG) were
down 19 percent to $8.69 after the company reported quarterly results.
Chipotle Mexican Grill, Inc. (NYSE: CMG) was down,
falling around 14 percent to $278.80 after the company reported weaker-than-expected results for its third quarter on Tuesday.
Commodities
In commodity news, oil traded down 0.53 percent to $52.19 while gold traded down 0.05 percent to $1,277.60.
Silver traded down 0.18 percent Wednesday to $16.935, while copper fell 0.52 percent to $3.1815.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 declined 0.61 percent, the Spanish Ibex Index fell 0.55 percent,
while Italy’s FTSE MIB Index slipped 0.78 percent. Meanwhile the German DAX slipped 0.50 percent, and the French CAC 40 declined
0.44 percent while U.K. shares fell 1.16 percent.
Economics
U.S. durable goods orders rose 2.2 percent for September, versus economists’ expectations for a 1 percent growth.
New home sales rose 18.9 percent at an annual rate of 667,000 for September. However, economists were expecting a 550,000
rate.
Domestic crude supplies increased 856,000 barrels for the week ended October 20, the U.S. Energy Information Administration
reported. However, analysts expected a drop of 2.58 million barrels. Gasoline stockpiles slipped 5.46 million barrels, while
distillate stockpiles dropped 5.25 million barrels for the week.
The Treasury will auction 5-year notes at 1:00 p.m. ET.
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