Dow Surges Over 200 Points; Ollie's Bargain Outlet Shares Gain After Q2 Earnings

U.S. stocks traded mostly higher this morning, with the Dow Jones index gaining more than 200 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.42% to 52,986.22 while the NASDAQ gained 0.01% to 26,100.26. The S&P 500 also rose, gaining, 0.11% to 7,639.90.

Leading and Lagging Sectors

Materials shares jumped by 1.5% on Wednesday.

In trading on Wednesday, real estate stocks fell by 1.2%.

Top Headline

Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) shares gained around 5% on Wednesday after the company posted results for the second quarter.

The company posted adjusted EPS of $1.42, beating market estimates of $1.14. The company’s sales came in at $741.305 million, missing expectations of $752.852 million.

Equities Trading UP
           

• Linkhome Holdings Inc (NASDAQ:LHAI) shares shot up 44% to $1.18 after the company announced its formed subsidiary, Linkhome Technologies, initiated a preliminary evaluation of a proposed AI computing infrastructure project in Europe that could deploy up to 144 NVIDIA GB300 GPUs.
• Shares of Purple Biotech Ltd – ADR (NASDAQ:PPBT) got a boost, surging 36% to $2.26 after the company announced the U.S. PTO issued a Notice of Allowance for a patent application covering tri-specific antibody constructs and methods of use.
• bioAffinity Technologies Inc (NASDAQ:BIAF) shares were also up, gaining 45% to $9.55. bioAffinity Technologies recently announced plans to advance the application of its CyPath Lung test.

Equities Trading DOWN

• Tscan Therapeutics Inc (NASDAQ:TCRX) shares dropped 26% to $0.49 after the company announced it paused further enrollment in the Phase 3 ALLOHA-2 study of TSC-101 due to insufficient capital needed to complete the trial. Also, the company will reduce its workforce by 75%.
• Shares of CDT Equity Inc (NASDAQ:CDT) were down 22% to $1.15 after the company disclosed two Form 8-K filings covering a recent share issuance, Nasdaq listing status and changes to its executive leadership.
• Alpha Modus Holdings Inc (NASDAQ:AMOD) was down, falling 21% to $2.20.

Commodities

In commodity news, oil traded down 0.4% to $89.85 while gold traded down 0.4% at $4,378.90.

Silver traded down 0.8% to $64.845 on Wednesday, while copper rose 0.1% to $6.6095.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 slipped 0.4%, while Spain’s IBEX 35 Index rose 0.1%, London’s FTSE 100 fell 0.4%, Germany’s DAX dipped 0.4%, while France’s CAC 40 fell 0.1%.

Asia Pacific Markets

Asian markets closed lower on Wednesday, with Japan’s Nikkei 225 falling 2.85%, Hong Kong’s Hang Seng index declining 0.07%, China’s Shanghai Composite declining 0.97% and India’s BSE Sensex falling 0.02%.

Economics

• U.S. private businesses added 38,000 jobs in August, compared to a revised 46,000 gain in July and down from market estimates of 47,000.
• The volume of mortgage applications rose by 0.8% during the last week of August.

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