Nasdaq Gains Over 1%; Williams-Sonoma Shares Plunge After Q4 Results

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining over 1% on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.56% to 41,814.36 while the NASDAQ climbed 1.16% to 17,706.90. The S&P 500 also rose, gaining, 0.78% to 5,658.21.

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Leading and Lagging Sectors

Information technology shares rose by 1.5% on Wednesday.

In trading on Wednesday, real estate shares fell by 0.2%.

Top Headline

Shares of Williams-Sonoma, Inc. WSM dipped more than 11% on Wednesday after the company released results for its fourth quarter.

Williams-Sonoma reported quarterly earnings of $3.28 per share which beat the analyst consensus estimate of $2.93 per share. The company reported quarterly sales of $2.46 billion which beat the analyst consensus estimate of $2.35 billion.

Equities Trading UP
                       

• Leishen Energy Holding Co., Ltd. LSE shares shot up 90% to $14.34 after jumping over 46% on Tuesday. The company recently reported FY24 financial results.
• Shares of Aterian, Inc. ATERgot a boost, surging 54% to $3.25 after the company reported better-than-expected fourth-quarter financial results.
• TEN Holdings, Inc. XHLD shares were also up, gaining 44% to $0.8440. TEN Holdings shares jumped 18% on Tuesday after the company announced a $1 million stock repurchase program.

Equities Trading DOWN

• Wellchange Holdings Company Limited WCT shares dropped 41% to $0.2347.
• Shares of Organovo Holdings, Inc. ONVO were down 23% to $0.3112 after the company announced a 1-for-12 reverse stock split.
• FST Corp. KBSX was down, falling 21% to $4.31 after gaining 310% on Tuesday.

Commodities

In commodity news, oil traded down 0.1% to $66.83 while gold traded down 0.1% at $3,037.30.

Silver traded down 1.5% to $34.290 on Wednesday, while copper rose 1.1% to $5.0695.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 fell 0.2%, Germany’s DAX 40 fell 0.8% and France’s CAC 40 gained 0.3%. Spain’s IBEX 35 Index rose 0.1%, while London’s FTSE 100 fell 0.2%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan’s Nikkei falling 0.25%, China’s Shanghai Composite Index falling 0.1%, Hong Kong’s Hang Seng Index gaining 0.12% and India’s BSE Sensex gaining 0.20%.

Economics

U.S. mortgage applications declined by 6.2% in the second week of March, following a cumulative 37% increase from the two prior weeks.

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