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Midway through trading Wednesday, the Dow traded up 1.94% to 23466.54 while the NASDAQ rose 2.33% to 8,455.79. The S&P also rose, gaining 2.07% to 2,793.20.
The U.S. is the epicenter of the coronavirus pandemic with the highest number of cases and deaths around the world. U.S. reported a total of 825,300 coronavirus cases with around 45,070 deaths. Spain confirmed a total of over 208,380 coronavirus cases with 21,710 deaths, while Italy reported a total of at least 183,950 confirmed cases and 24,640 deaths. In total, there were at least 2,585,460 cases of COVID-19 worldwide with over 178,840 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Energy shares climbed 3.4% on Wednesday. Meanwhile, top gainers in the sector included Delek Logistics Partners, LP (NYSE:DKL), up 60%, and Gulfport Energy Corporation (NASDAQ:GPOR), up 18%.
In trading on Wednesday, consumer staples shares rose by just 0.8%.
Top Headline
Kimberly-Clark Corp (NYSE:KMB) reported better-than-expected results for its first quarter.
Kimberly-Clark posted quarterly earnings of $2.13 per share, beating analysts’ estimates of $1.96 per share. Its sales came in at $5.00 billion, versus expectations of $4.88 billion.
Equities Trading UP
The Peck Company Holdings, Inc. (NASDAQ:PECK) shares shot up 76% to $6.15 after the company announced it would align capital for the construction of new solar projects with GreenBond Advisors from Green Bond Partnership.
Shares of SAExploration Holdings, Inc. (NASDAQ:SAEX) got a boost, shooting 111% to $2.36 after the company disclosed a new project in Greece.
Delek Logistics Partners, LP (NYSE:DKL) shares were also up, gaining 60% to $14.09. Delek Logistics Partners increased its quarterly dividend to $0.89 per share.
Equities Trading DOWN
American Eagle Outfitters, Inc. (NYSE:AEO) shares tumbled 16% to $7.03 after the company suspended its buyback program and deferred payment of its Q1 dividend.
Shares of Actinium Pharmaceuticals, Inc. (NASDAQ:ATNM) were down 28% to $0.1689. Actinium Pharmaceuticals priced its 183 million share public offering at $0.15 per share.
VBI Vaccines Inc. (NASDAQ:VBIV) was down, falling 28% to $1.13. VBI Vaccines priced its 45.45 million share offering at $1.10 per share.
Commodities
In commodity news, oil traded up 25.2% to $14.49, while gold traded up 2.5% to $1,730.40.
Silver traded up 1.7% Wednesday to $15.13, while copper rose 2.4% to $2.2835.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 1.79%, the Spanish Ibex Index rose 1.2%, while Italy’s FTSE MIB Index rose 1.9%. Meanwhile, the German DAX gained 1.6%, and the French CAC 40 rose 1.31% while UK shares rose 2.3%.
Economics
The FHFA house price index climbed increased 0.7% in February, versus a revised 0.5% rise in January.
U.S. crude supplies climbed 15 million barrels for the week ended April 17, the Energy Information Administration reported. However, analysts were estimating a gain of 12.9 million barrels. Gasoline supplies surged 1 million barrels, while distillate stockpiles increased 7.9 million barrels last week.
