Dow Dips Over 100 Points; TJX Earnings Top Views

U.S. stocks traded mixed toward the end of trading, with the Dow Jones index falling more than 100 points on Wednesday.

The Dow traded down 0.32% to 43,482.16 while the NASDAQ gained 0.07% to 19,038.99. The S&P 500 also fell, dropping, 0.01% to 5,954.69.

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Leading and Lagging Sectors

Information technology shares jumped by 0.6% on Wednesday.

In trading on Wednesday, consumer staples shares fell by 1.5%.

Top Headline

TJX Companies Inc TJX posted better-than-expected fourth-quarter FY25 earnings results.

The company’s fourth-quarter FY25 sales remained flat year-on-year to $16.4 billion, beating the analyst consensus estimate of $16.20 billion.

Overall comp store sales increased 5%, well above the Company’s plan, and were driven by an increase in customer transactions. Adjusted EPS of $1.23 beat the consensus estimate of $1.16.

Equities Trading UP
                       

• Enveric Biosciences, Inc. ENVB shares shot up 116% to $2.54 after the company announced its non-hallucinogenic psychedelic compounds showed promise for treating addiction and ADHD.
• Shares of Mullen Automotive, Inc. MULNgot a boost, surging 59% to $3.72 after the company announced that its Mullen ONE and Mullen THREE vehicles have been added to National Auto Fleet Group’s Sourcewell contract for public sector government purchasing.
• Porch Group, Inc. PRCH shares were also up, gaining 80% to $6.80 after the company reported fourth-quarter financial results.

Equities Trading DOWN

• Flywire Corporation FLYW shares dropped 40% to $10.67 after the company reported worse-than-expected fourth-quarter financial results.
• Shares of AppLovin Corporation APP were down 17% to $311.57 with two new short reports adding to the targets against the high-rising stock.
• Geron Corporation GERN was down, falling 31% to $1.6250 after the company posted quarterly results.

Commodities

In commodity news, oil traded down 0.2% to $68.79 while gold traded up 0.4% at $2,930.50.

Silver traded up 1.1% to $32.165 on Wednesday, while copper rose 1.2% to $4.5795.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.99%, Germany’s DAX 40 gained 1.71% and France’s CAC 40 climbed 1.15%. Spain’s IBEX 35 Index rose 1.64%, while London’s FTSE 100 rose 0.72%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan’s Nikkei falling 0.25%, China’s Shanghai Composite Index gaining 1.02% and Hong Kong’s Hang Seng Index surging 3.27%.

Economics

• U.S. mortgage applications declined by 1.2% from the previous week during the week ending Feb. 21
• U.S. crude oil inventories declined by 2.332 million barrels in the week ended Feb. 21, compared to market estimates of a 2.54 million gain, the EIA said.
• Sales of new single-family homes in the U.S. dipped 10.5% to an annualized rate of 657,000 in January.
• Building permits declined by 0.6% to an annualized rate of 1.473 million in January.

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