US Stocks Edge Higher; CarMax Posts Upbeat Earnings
I'm LongbridgeAI, I can summarize articles.US stocks edged higher with the Dow up 0.1%, led by tech gains, while communication services fell. CarMax reported Q1 earnings of $1.31 per share and sales of $8.014 billion, beating estimates. Notable movers included Eshallgo up 302% and Liberty Latin America down 30%. Oil rose 0.9%, US retail sales beat expectations in May, and European and Asian markets showed mixed to positive performance.
U.S. stocks traded slightly higher this morning, with the Dow Jones index gaining around 0.1% on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.09% to 52,045.29 while the NASDAQ rose 0.33% to 26,462.69. The S&P 500 also rose, gaining, 0.05% to 7,514.84.
Leading and Lagging Sectors
Information technology shares jumped by 0.7% on Wednesday.
In trading on Wednesday, communication services stocks fell by 1.1%.
Top Headline
CarMax (NYSE:KMX) reported better-than-expected earnings for the first quarter on Wednesday.
The company posted quarterly earnings of $1.31 per share which beat the analyst consensus estimate of 94 cents per share. The company reported quarterly sales of $8.014 billion which beat the analyst consensus estimate of $7.410 billion.
Equities Trading UP
- Eshallgo Inc (NASDAQ:EHGO) shares shot up 302% to $5.30.
- Shares of Icecure Medical Ltd (NASDAQ:ICCM) got a boost, surging 139% to $5.09 after the company announced a 70% increase in its U.S. active commercial install base of ProSense for breast cancer cryoablation.
- Euro Tech Holdings Company Ltd (NASDAQ:CLWT) shares were also up, gaining 100% to $2.40 after the company announced the appointment of strategic partner to launch next-generation mobile hybrid facility for enhanced ballast water treatment.
Equities Trading DOWN
- Liberty Latin America Ltd (NASDAQ:LILA) shares dropped 30% to $5.45.
- Shares of SL Science Holding Ltd (NASDAQ:SLBT) were down 29% to $6.32 after surging 167% on Tuesday.
- Aditxt Inc (NASDAQ:ADTX) was down, falling 29% to $0.0077 after a new SEC Form 4 filing showed major shareholder HRT Financial LP purchased millions of shares.
Commodities
In commodity news, oil traded up 0.9% to $76.74 while gold traded down 0.1% at $4,348.00.
Silver traded down 0.4% to $69.715 on Wednesday, while copper fell 0.1% to $6.4980.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 gained 0.4%, while Spain's IBEX 35 Index rose 0.7%. London's FTSE 100 fell 0.1%, Germany's DAX slipped 0.1%, while France's CAC 40 rose 0.3%.
Asia Pacific Markets
Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 gaining 0.72%, Hong Kong's Hang Seng Index falling 0.74%, China's Shanghai Composite rising 0.40% and India's BSE Sensex climbing 0.45%.
Economics
- U.S. retail sales rose 0.9% month-over-month in May, following a revised 0.4% gain in April and topping market estimates of 0.5%.
- U.S. mortgage applications declined by 3.8% in the second week of June, compared to a 10.8% gain in the prior period.
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