US Stocks Mixed; Walt Disney Posts Upbeat Earnings

U.S. stocks traded mixed this morning, with the Nasdaq Composite falling around 100 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.08% to 44,590.52 while the NASDAQ fell 0.55% to 19,545.97. The S&P 500 also fell, dropping, 0.17% to 6,027.54.

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Leading and Lagging Sectors

Utilities shares surged by 1.1% on Wednesday.

In trading on Wednesday, communication services shares fell by 2.6%.

Top Headline

The Walt Disney Company DIS reported better-than-expected first-quarter financial results.

Walt Disney reported quarterly earnings of $1.76 per share which beat the analyst consensus estimate of $1.45 per share. The company reported quarterly sales of $24.70 billion which beat the analyst consensus estimate of $24.62 billion.

Equities Trading UP
                       

• Oragenics Inc OGEN shares shot up 94% to $0.55.
• Shares of Pasithea Therapeutics Corp KTTAgot a boost, surging 59% to $3.32 after a Safety Review Committee recommended proceeding to Cohort 5 in its Phase 1 trial of PAS-004 without modification.
• Aurora Cannabis Inc ACB shares were also up, gaining 41% to $5.18 after the company reported a 37% YoY increase in third-quarter total net revenue.

Equities Trading DOWN

• Volcon Inc VLCN shares dropped 39% to $1.96 after the company announced the pricing of $12.0 million underwritten public offering.
• Shares of FMC Corp FMC were down 36% to $34.70 following weak guidance.
• Lottery.com Inc LTRY was down, falling 29% to $0.42. Lottery.com recently announced an international operations expansion by targeting Europe, Africa, and other emerging markets.

Commodities

In commodity news, oil traded down 1.2% to $71.86 while gold traded up 0.5% at $2,889.50.

Silver traded down 0.4% to $32.880 on Wednesday, while copper rose 0.2% to $4.3620.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 rose 0.2%, Germany’s DAX 40 slipped 0.1% and France’s CAC 40 fell 0.2%. Spain’s IBEX 35 Index rose 1.2%, while London’s FTSE 100 rose 0.2%.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan’s Nikkei 225 gaining 0.09%, China’s Shanghai Composite Index falling 0.65%, Hong Kong’s Hang Seng Index falling 0.93% and India’s BSE Sensex falling 0.40%.

Economics

• The U.S. trade deficit increased to $98.4 billion in December versus a revised $78.9 billion gap in the previous month and compared to market estimates of a $96.6 billion gap.
• U.S. private businesses added 183,000 workers to their payrolls in January, compared to a revised 176,000 gain in December and above expectations of 150,000.

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