I'm LongbridgeAI, I can summarize articles.U.S. stocks traded mixed on Wednesday, with the Dow rising 0.32% while the Nasdaq and S&P 500 declined slightly. The S&P Global manufacturing PMI was revised lower to 53.9 for June. In commodities, gold gained over 1% to $4,085.80, while oil fell. European markets were mostly lower, whereas Asian indices closed higher. Individual stock movements varied, driven by earnings, acquisitions, and merger news.
U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling over 100 points on Wednesday.
The Dow traded up 0.32% to 52,488.18 while the NASDAQ fell 0.43% to 26,102.23. The S&P 500 also fell, dropping, 0.01% to 7,499.07.
Leading and Lagging Sectors
Communication services shares jumped by 2% on Wednesday.
In trading on Wednesday, information technology stocks fell by 1.9%.
Top Headline
The S&P Global manufacturing PMI was revised lower to 53.9 in June, from the preliminary reading of 55.7 and also down from May’s final reading of 55.1.
Equities Trading UP
- Progress Software Corp (NASDAQ:PRGS) shares shot up 15% to $38.52 after the company after the company posted better-than-expected second-quarter results.
- Shares of Linkhome Holdings Inc (NASDAQ:LHAI) got a boost, surging 108% to $1.37 after the company announced it has completed the acquisition of 100% of the equity interests of Mortgage One Group.
- PowerFleet Inc (NASDAQ:AIOT) shares were also up, gaining 12% to $4.30 as the company announced a new $30 million stock repurchase program.
Equities Trading DOWN
- INLIF Ltd (NASDAQ:INLF) shares dropped 45% to $0.032 after the company announced a 1-for-200 reverse stock split.
- Shares of Nebius Group NV (NASDAQ:NBIS) were down 14% to $238.48 after a Bloomberg report said Meta Platforms Inc. (NASDAQ:META) is exploring a cloud infrastructure business that would sell access to raw computing capacity, fueling concerns about intensifying competition in the AI cloud market.
- Shutterstock Inc (NYSE:SSTK) was down, falling 30% to $9.74 after Getty Images’ board terminated its merger agreement with the company.
Commodities
In commodity news, oil traded down 0.6% to $69.11 while gold traded up 1.2% at $4,085.80.
Silver traded up 1.3% to $60.685 on Wednesday, while copper fell 0.8% to $6.2060.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.4%, while Spain’s IBEX 35 Index fell 0.5%. London’s FTSE 100 fell 0.4%, Germany’s DAX gained 0.1%, while France’s CAC 40 dipped 0.8%.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan’s Nikkei 225 gaining 0.59%, China’s Shanghai Composite rising 0.44% and India’s BSE Sensex gaining 0.58%.
Economics
- U.S. private businesses added 98,000 jobs in June, down from 122,000 in May and market estimates of 113,000.
- U.S. volume of mortgage applications came in unchanged from the previous week during the last week of June.
- The S&P Global manufacturing PMI was revised lower to 53.9 in June, from the preliminary reading of 55.7 and also down from May’s final reading of 55.1.
Photo via Shutterstock