Nasdaq Jumps 250 Points; Disney Earnings Beat Estimates

Author: Avi Kapoor | August 07, 2024 10:38am

U.S. stocks traded higher this morning, with the Dow Jones index gaining around 1% on Wednesday.

The Dow traded up 0.96% to 39,372.63 while the NASDAQ rose 1.55% to 16,619.78. The S&P 500 also rose, gaining, 1.37% to 5,312.03.

Leading and Lagging Sectors

Information technology shares climbed by 2% on Wednesday.

In trading on Wednesday, health care shares rose by just 0.2%.

Top Headline

Walt Disney Co (NYSE:DIS) reported better-than-expected fiscal third-quarter earnings.

The company posted revenue growth of 4% year-on-year to $23.16 billion, marginally beating the analyst consensus estimate of $23.11 billion. Adjusted EPS of $1.39 beat the analyst consensus estimate of $1.20.

Equities Trading UP
                       

• Aditxt, Inc. (NASDAQ:ADTX) shares shot up 81% to $1.7698. Aditxt said its subsidiary, Pearsanta, Inc. submitted a proposal for the Clinical Trial Translational Endpoints Research Award to the Congressionally Directed Medical Research Programs (CDMRP) of the Department of Defense.
• Shares of G1 Therapeutics, Inc. (NASDAQ:GTHX) got a boost, surging 67% to $7.08 after the company announced it will be acquired by Pharmacosmos Group in an all-cash transaction valued at $405 million.
• Richtech Robotics Inc. (NASDAQ:RR) shares were also up, gaining 55% to $0.5729.

Equities Trading DOWN

• Scorpius Holdings, Inc. (NYSE:SCPX) shares dropped 47% to $1.09 after gaining 19% on Tuesday. Scorpius announced that it has surpassed $100 million in near-term business development opportunities across government and commercial sectors.
• Shares of Expion360 Inc. (NASDAQ:XPON) were down 68% to $0.0843 after the company reported the pricing of $10 million underwritten public offering.
• Talis Biomedical Corporation (NASDAQ:TLIS) was down, falling 47% to $4.8150. The company announced board restructuring, appointed new directors and updated investors on potential bankruptcy proceedings.

Commodities

In commodity news, oil traded up 1.9% to $74.59 while gold traded up 0.4% at $2,441.10.

Silver traded down 0.7% to $27.015 on Wednesday, while copper fell 1.5% to $3.9630.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 1.7%, Germany's DAX rose 1.6% and France's CAC 40 climbed 1.9%. Spain's IBEX 35 Index gained 2.2%, while London's FTSE 100 rose 1.7%.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei 225 jumping 1.19%, Hong Kong's Hang Seng Index gaining 1.38%, China's Shanghai Composite Index rising 0.09% and S&P BSE Sensex jumping 1.11%.

Economics

• The Manheim Used Vehicle Value Index rose 2.8% month-over-month for July.
• Mortgage applications rose by 6.9% from the prior week in the period ending August 2.

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Posted In: ADTX DIS GTHX RR SCPX TLIS XPON