The Dow Jones extended gains later during the session, adding more than 150 points on Wednesday. Alphabet Inc. (NASDAQ:GOOGL) reported upbeat results for its fourth quarter and also announced a 20-for-1 stock split.
Toward the end of trading Wednesday, the Dow traded up 0.45% to 35,563.95 while the NASDAQ rose 0.16% to 14,368.31. The S&P also rose, gaining, 0.67% to 4,576.91.
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Leading and Lagging Sectors
Communication services shares jumped 3.3% on Wednesday. Meanwhile, top gainers in the sector included Communication Services (NASDAQ:GOOG), up 8% and Match Group, Inc. (NASDAQ:MTCH) up 5%.
In trading on Wednesday, consumer discretionary shares fell 1.1%.
Top Headline
Thermo Fisher Scientific Inc (NYSE:TMO) reported upbeat results for its fourth quarter.
Thermo Fisher Scientific posted Q4 revenues of $10.70 billion, up 1% Y/Y, beating the consensus of $9.29 billion. Adjusted EPS decreased 7.8% to $6.54, ahead of the consensus of $5.26.
Equities Trading UP
Helbiz, Inc. (NASDAQ:HLBZ) shares shot up 15% to $3.5281. Helbiz’s CEO bought 1 million shares at an average price of $3.64 per share.
Shares of Allegheny Technologies Incorporated (NYSE:ATI) got a boost, shooting 20% to $22.50 after the company posted upbeat Q4 results and announced a $150 million buyback plan.
Brinker International, Inc. (NYSE:EAT) shares were also up, gaining 10% to $38.19 after the company reported upbeat Q2 earnings.
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Equities Trading DOWN
Dynatrace, Inc. (NYSE:DT) shares tumbled 21% to $44.57 after the company reported Q3 earnings results. The non-GAAP operating margin contracted 400 basis points to 25%.
Shares of Electric Last Mile Solutions, Inc. (NASDAQ:ELMS) were down 37% to $3.5050 after the company reported leadership transition and financial update. The company said Executive Chairman Jason Luo has resigned from position as President, CEO and member of Board. Several analysts also downgraded the stock.
PayPal Holdings, Inc. (NASDAQ:PYPL) was down, falling 25% to $131.32 after the company reported worse-than-expected Q4 EPS results.
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Commodities
In commodity news, oil traded down 0.5% to $87.78, while gold traded up 0.5% to $1,809.70.
Silver traded up 0.7% Wednesday to $22.745 while copper rose 1.3% to $4.4915.
Euro zone
European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.45%, London’s FTSE 100 gained 0.63%, while Spain’s IBEX 35 Index fell 0.15%. The German DAX fell 0.04%, French CAC 40 gained 0.22% and Italy’s FTSE MIB Index climbed 0.60%.
Annual inflation rate in the Eurozone rose to a new record high of 5.1% in January from 5% in December, while annual inflation rate in Italy rose to 4.8% from 3.9%. French government budget deficit narrowed to EUR 170.7 billion in 2021 from EUR 178.1 billion in the previous year.
The number of people registered as unemployed in Spain increased by 17,173 from a month ago to 3.12 million in January, while number of foreign tourist arrivals jumped 355% year-over-year to 2.95 million in December.
Economics
Private businesses in the US cut 301,000 workers in January, recording the first job loss since December 2020, the ADP said.
US crude-oil inventories dropped 1 million barrels last week, the Energy Information Administration said.
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Check out the full economic calendar here
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 76,516,200 cases with around 913,920 deaths. India confirmed a total of at least 41,630,880 cases and 497,990 deaths, while Brazil reported over 25,625,130 COVID-19 cases with 628,130 deaths. In total, there were at least 382,633,130 cases of COVID-19 worldwide with more than 5,707,900 deaths.
