Midway through trading Wednesday, the Dow traded up 0.01% to 28683.10 while the NASDAQ rose 0.11% to 11,876.67. The S&P also rose, gaining 0.06% to 3,514.04.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 7,859,360 cases with around 215,910 deaths. India confirmed a total of at least 7,239,380 confirmed cases and 110,580 deaths, while Brazil reported over 5,113,620 COVID-19 cases with 150,990 deaths. In total, there were at least 38,195,650 cases of COVID-19 worldwide with over 1,087,340 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
In trading on Wednesday, real estate shares fell 0.8%.
Goldman Sachs Group Inc (NYSE:GS) reported better-than-expected results for its third quarter.
Goldman Sachs reported quarterly earnings of $9.68 per share, beating analysts’ estimates of $5.57 per share. The company posted sales of $10.78 billion, surpassing expectations of $9.46 billion.
Equities Trading UP
Novan, Inc. (NASDAQ:NOVN) shares shot up 30% to $0.595 after the company announced in vitro results showing the effect of NITRICIL against Covid-19.
Shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) got a boost, shooting 30% to $10.81 after the company agreed to sell its CarePort Health business to WellSky for $1.35 billion.
AnaptysBio, Inc. (NASDAQ:ANAB) shares were also up, gaining 33% to $23.62 after Guggenheim upgraded the stock from Neutral to Buy and announced a price target of $36 per share. AnaptysBio yesterday reported positive topline data from GALLOP Phase 2 clinical trial of imsidolimab in moderate-to-severe generalized pustular psoriasis.
Equities Trading DOWN
Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) shares tumbled 47% to $3.76 following a couple of clinical trial updates from the company. Cyclerion said its mid-stage investigational asset olinciguat did not show adequate activity to support further internal clinical development of it as a potential treatment for sickle cell disease. Separately, the company announced positive results from a Phase 1 translational pharmacology study of IW-6463, a soluble guanylate cyclase stimulator being developed for CNS disorders.
Shares of Enzo Biochem, Inc. (NYSE:ENZ) were down 16% to $2.1901. Enzo Biochem reported fourth-quarter revenues of $19.5 million, down 6.6% year-over-year, while on a GAAP basis, the net loss narrowed from 11 cents per share to 7 cents per share.
AMC Entertainment Holdings, Inc. (NYSE:AMC) was down, falling 15% to $2.9980 The world’s biggest chain of theaters - AMC Entertainment is mulling options for respite from debt, that includes potential bankruptcy, Bloomberg reported.
In commodity news, oil traded up 1.5% to $40.81, while gold traded up 0.9% to $1,912.10.
Silver traded up 1.5% Wednesday to $24.50 while copper rose 0.2% to $3.0495.
European shares were mixed today. The eurozone’s STOXX 600 fell 0.08%, the Spanish Ibex Index rose 0.58%, while Italy’s FTSE MIB Index gained 0.34%. Meanwhile, the German DAX 30 gained 0.12%, French CAC 40 slipped 0.06% and London’s FTSE 100 slipped 0.49%.
Consumer prices in Spain fell 0.4% year-over-year in September after declining 0.5% in the previous month.
The Producer Price Index rose 0.4% for September, versus analysts’ expectations for a 0.2% increase.
Federal Reserve Bank of Dallas President Robert Kaplan will speak at 6:00 p.m. ET.