Dow Gains 250 Points; Salesforce Shares Jump After Q3 Results

Author: Avi Kapoor | December 04, 2024 10:51am

U.S. stocks traded higher this morning, with the Dow Jones index gaining around 250 points on Wednesday.

The Dow traded up 0.56% to 44,957.85 while the NASDAQ rose 0.61% to 19,599.96. The S&P 500 also rose, gaining, 0.29% to 6,067.20.

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Leading and Lagging Sectors

Information technology shares jumped by 1% on Wednesday.

In trading on Wednesday, energy shares fell by 0.6%.

Top Headline

Shares of Salesforce Inc. (NYSE:CRM) jumped around 10% on Wednesday after the company reported results for its third quarter.

Salesforce reported third-quarter revenue of $9.44 billion, beating the consensus estimate of $9.35 billion. The enterprise cloud solutions company reported adjusted earnings of $2.41 per share, missing analyst estimates of $2.44 per share, according to Benzinga Pro.

Equities Trading UP

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) shares shot up 273% to $6.00.
Shares of CN Energy Group. Inc. (NASDAQ:CNEY) got a boost, surging 123% to $0.7049 after the company announced it has been granted a 180-day extension by Nasdaq to regain compliance with its $1.00 minimum bid price requirement.
SRM Entertainment, Inc. (NASDAQ:SRM) shares were also up, gaining 111% to $1.33 after the company announced its online sales on Amazon grew 417% since September.

Equities Trading DOWN

Relmada Therapeutics, Inc. (NASDAQ:RLMD) shares dropped 76% to $0.6698 after the company announced its Reliance II Phase 3 study indicated results were futile and unlikely to meet the primary efficacy endpoint with statistical significance.
Shares of Oriental Rise Holdings Limited (NASDAQ:ORIS) were down 39% to $7.30.
PSQ Holdings, Inc. (NYSE:PSQH) was down, falling 33% to $5.11 after the company announced a $36.2 million registered direct offering of common stock.

Commodities

In commodity news, oil traded up 0.2% to $70.05 while gold traded up 0.2% at $2,674.40.

Silver traded up 0.8% to $31.730 on Wednesday, while copper rose 0.1% to $4.2060.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.5%, Germany's DAX climbed 0.9% and France's CAC 40 rose 0.9%. Spain's IBEX 35 Index rose 0.8%, while London's FTSE 100 fell 0.2%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 gaining 0.07%, Hong Kong's Hang Seng Index falling 0.02%, China's Shanghai Composite Index falling 0.42% and India's BSE Sensex gaining 0.14%.

Economics

U.S. Private businesses added 146K workers to their payrolls for the month of November compared to a revised 184K gain in October, and versus market estimates of 150K.

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