U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining more than 100 points on Wednesday.
The Dow traded down 0.20% to 46,001.48 while the NASDAQ gained 0.64% to 22,576.57. The S&P 500 also rose, gaining, 0.35% to 6,640.59.
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Leading and Lagging SectorsCommunication services shares rose by 1.4% on Wednesday.
In trading on Wednesday, energy stocks fell by 1.6%.
Top Headline
Target Corporation (NYSE:TGT) reported a third-quarter profit beat but posted underwhelming sales and trimmed its full-year earnings outlook heading into the crucial holiday stretch.
The company reported third-quarter adjusted earnings per share of $1.78, beating the analyst consensus estimate of $1.72. Quarterly sales of $25.27 billion (down 1.5% year over year) missed the Street view of $25.337 billion. This reflected a merchandise sales decrease of 1.9%
Target tightened its 2025 adjusted EPS outlook to $7.00–$8.00, down from $7.00–$9.00 and below the $7.36 consensus estimate. The firm cut its 2025 GAAP EPS forecast to $7.70–$8.70 from $8.00–$10.00, compared with the $8.12 consensus estimate.
Equities Trading UP
- WeShop Holdings Limited (NASDAQ:WSHP) shares shot up 148% to $82.00 amid volatility following the stock’s recent Nasdaq debut.
- Shares of Freight Technologies, Inc. (NASDAQ:FRGT) got a boost, surging 77% to $1.1712 after the company announced the commercial launch of Zayren, its AI-powered freight rate prediction and carrier matching platform.
- Semrush Holdings, Inc. (NYSE:SEMR) shares were also up, gaining 74% to $11.79 after Adobe announced plans to acquire Semrush.
Equities Trading DOWN
- Inspire Veterinary Partners, Inc. (NASDAQ:IVP) shares dropped 53% to $0.1273.
- Shares of Carver Bancorp, Inc. (NASDAQ:CARV) were down 48% to $1.5499 after the company announced it will degregister its common stock with the SEC and deist from the Nasdaq to the OTCQX market.
- Tempest Therapeutics, Inc. (NASDAQ:TPST) was down, falling 50% to $4.63 after the company announced it has signed agreements to acquire Factor Bioscience’s Dual-CAR T programs in an all-stock transaction.
CommoditiesIn commodity news, oil traded down 2.3% to $59.35 while gold traded up 0.6% at $4,091.20.
Silver traded up 1.5% to $51.295 on Wednesday, while copper rose 0.5% to $4.9975.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.2%, while Spain's IBEX 35 Index rose 0.7%. London's FTSE 100 fell 0.3%, Germany's DAX 40 gained 0.2% and France's CAC 40 rose 0.1% during the session.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.34%, Hong Kong's Hang Seng falling 0.38%, China's Shanghai Composite gaining 0.18% and India's BSE Sensex gaining 0.61%.
Economics
- U.S. crude oil inventories declined by 3.426 million barrels in the week ending Nov. 14, compared to market estimates of a 0.6-million fall.
- U.S. exports of goods and services increased $0.2 billion to $280.8 billion in August, while US imports declined 5.1% to $340.4 billion.
- The U.S. trade deficit shrank to $59.6 billion in August from $78.2 billion in the previous month, compared to market expectations of a $61 billion gap.
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