Nasdaq Down Over 100 Points; AT&T Shares Gain After Upbeat Earnings
Complete. Here is the key summaryU.S. stocks traded mixed with the Nasdaq falling over 100 points, while the Dow rose slightly and the S&P 500 dipped. AT&T shares surged 4% after beating earnings expectations. Energy stocks led gains, whereas tech declined. European markets rose, but Asian indices closed mostly lower. Oil and gold prices increased.
U.S. stocks traded mixed this morning, with the Nasdaq Composite falling more than 100 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.02% to 52,237.67 while the NASDAQ declined 0.52% to 25,703.94. The S&P 500 also fell, dropping, 0.20% to 7,493.98.
Leading and Lagging Sectors
Energy shares jumped by 1.1% on Wednesday.
In trading on Wednesday, information technology stocks fell by 0.7%.
Top Headline
AT&T Inc. (NYSE:T) stock gained more than 4% on Wednesday after the telecom giant reported second-quarter fiscal 2026 earnings that topped Wall Street expectations.
The company, which is navigating an increasingly competitive U.S. wireless market, reported revenue of $31.56 billion, up 2.3% from a year earlier but below the analyst consensus estimate of $31.80 billion. Adjusted earnings were 65 cents per share, beating analysts’ expectations of 59 cents.
Equities Trading UP
- Lakewood-amedex Biotherapeutics Inc (NASDAQ:LABT) shares shot up 211% to $5.78 after the company announced resistance data for Nu-3.
- Shares of Zhongchao Inc (NASDAQ:ZCMD) got a boost, surging 96% to $2.88.
- INLIF Ltd (NASDAQ:INLF) shares were also up, gaining 48% to $3.30.
Equities Trading DOWN
- Wetour Robotics Ltd (NASDAQ:WETO) shares dropped 84% to $0.13 after the company announced its subsidiary, Wetour Travel Tech, entered into a definitive 24-month multi-site commercial agreement with an international trade and logistics company.
- Shares of China Pharma Holdings Inc (NYSE:CPHI) were down 69% to $2.54 after the company announced the pricing of $5 million registered direct offering.
- Ohmyhome Ltd (NASDAQ:OMH) was down, falling 56% to $0.36.
Commodities
In commodity news, oil traded up 2.3% to $86.27 while gold traded up 1.6% at $4,142.50.
Silver traded up 1.5% to $59.99 on Wednesday, while copper fell 0.6% to $6.5115.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.8%, while Spain’s IBEX 35 Index rose 1.3% London’s FTSE 100 rose 1.5%, Germany’s DAX gained 0.6%, while France’s CAC 40 surged 1.1%.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan’s Nikkei 225 falling 0.18%, Hong Kong’s Hang Seng index falling 0.95%, China’s Shanghai Composite rising 0.07% and India’s BSE Sensex falling 0.92%.
Economics
The volume of mortgage applications surged by 1.9% in the week ending July 17.
Photo via Shutterstock