U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining over 1% on Wednesday.
The Dow traded down 0.24% to 49,638.96 while the NASDAQ gained 1.18% to 26,395.66. The S&P 500 also rose, gaining, 0.60% to 7,445.55.
Leading and Lagging Sectors
Communication services shares jumped by 1.6% on Wednesday.
In trading on Wednesday, utilities stocks fell by 1.4%.
Top Headline
Alibaba Group Holding Ltd. (NYSE:BABA) shares gained around 6% on Wednesday after the e-commerce and cloud-computing company reported mixed fiscal fourth-quarter 2026 results.
The company reported quarterly revenue of $35.28 billion, up 3% from a year earlier and slightly ahead of analyst estimates of $35.23 billion. Excluding the divested Sun Art and Intime businesses, revenue increased 11% on a like-for-like basis.
Adjusted earnings per American Depositary Share came in at 9 cents, missing analyst expectations of $1.12.
Equities Trading UP
- Velo3D Inc (NASDAQ:VELO) shares shot up 47% to $20.66 after the company reported better-than-expected first-quarter financial results.
- Shares of C4 Therapeutics, Inc (NASDAQ:CCCC) got a boost, surging 22% to $3.88 following upbeat quarterly results.
- Tower Semiconductor Ltd (NASDAQ:TSEM) shares were also up, gaining 12% to $246.84 after the company reported better-than-expected first-quarter financial results and issued second-quarter sales guidance with its midpoint above estimates. Also, the company announced it signed a silicon photonics contract for $1.3 billion.
Equities Trading DOWN
- Wix.Com Ltd (NASDAQ:WIX) shares dropped 30% to $53.31 after the company reported worse-than-expected first-quarter financial results.
- Shares of National Vision Holdings Inc (NASDAQ:EYE) were down 25% to $15.77 after the company reported mixed first-quarter financial results.
- TriSalus Life Sciences, Inc. (NASDAQ:TLSI) was down, falling 48% to $2.38 after the company reported mixed first-quarter financial results and cut its FY26 sales guidance below estimates.
CommoditiesIn commodity news, oil traded up 0.2% to $102.37 while gold traded up 0.4% at $4,705.70.
Silver traded up 4.4% to $89.390 on Wednesday, while copper rose 2.4% to $6.6880.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.65%, while Spain's IBEX 35 Index rose 0.25%. London's FTSE 100 rose 0.3%, Germany's DAX rose 0.61%, while France's CAC 40 gained 0.23%.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 0.84%, Hong Kong's Hang Seng Index gaining 0.15%, China's Shanghai Composite gaining 0.67% and India's BSE Sensex rising 0.07%
Economics
- U.S. producer prices rose 1.4% month-over-month in April, recording the biggest gain since March 2022, compared to a revised 0.7% rise in March and higher than market estimates of 0.5%.
- U.S. mortgage applications climbed by 1.7% from the previous week during the first week of May.
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