Dow Surges Over 200 Points; AT&T Posts Upbeat Earnings
U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 200 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.49% to 44,721.78 while the NASDAQ rose 0.05% to 20,903.11. The S&P 500 also rose, gaining, 0.26% to 6,326.17.
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Leading and Lagging Sectors
Health care shares jumped by 1.2% on Wednesday.
In trading on Wednesday, communication services stocks dipped by 0.3%.
Top Headline
AT&T Inc. (NYSE:T) announced strong financial results for its fiscal second quarter of 2025 on Wednesday, surpassing analyst expectations for both revenue and earnings.
The telecom giant reported operating revenues of $30.80 billion, marking a 3.5% increase compared to the same period last year and exceeding the consensus estimate of $30.45 billion. Adjusted earnings per share (EPS) stood at $0.54, also beating the analyst forecast of $0.52.
Equities Trading UP
- ABIVAX Société Anonyme (NASDAQ:ABVX) shares shot up 548% to $64.81 after the company announced that Obefazimod met all its key secondary endpoints. JMP Securities raised its price target on the stock from $33 to $39.
- Shares of Alpha Modus Holdings, Inc. (NASDAQ:AMOD) got a boost, surging 76% to $2.04 after the company announced it secured exclusive US rights to CashX kiosks.
- Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) shares were also up, gaining 75% to $3.1900 after the company announced a reverse stock split with a ratio of at least 1-for-2500.
Equities Trading DOWN
- Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) shares dropped 28% to $1.6102.
- Shares of INVO Fertility, Inc. (NASDAQ:IVF) were down 22% to $2.6896.
- Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) was down, falling 21% to $0.4119. The company announced the elimination of its series A preferred stock and its related obligations in exchange for 2.1 million common shares.
Commodities
In commodity news, oil traded down 2% to $64.93 while gold traded down 0.6% at $3,423.30.
Silver traded up 0.5% to $39.765 on Wednesday, while copper rose 3.3% to $5.9125.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 1%, while Spain's IBEX 35 Index rose 0.1%. London's FTSE 100 gained 0.5%, Germany's DAX 40 rose 0.5% and France's CAC 40 climbed 1.3% during the session.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 surging 3.51%, Hong Kong's Hang Seng gaining 1.62%, China's Shanghai Composite gaining 0.01% and India's BSE Sensex rising 0.66%.
Economics
- U.S. existing-home sales declined 2.7% from the previous month to an annual rate of 3.93 million units in June.
- The volume of mortgage applications rose by 0.8% from the previous week during the third week of July.
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