Crude Oil Falls; Thermo Fisher Scientific Earnings Top Views

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 350 points on Wednesday.

The Dow traded up 0.82% to 44,869.16 while the NASDAQ rose 0.16% to 20,925.86. The S&P 500 also rose, gaining, 0.44% to 6,337.46.

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Leading and Lagging Sectors

Industrials shares jumped by 1.1% on Wednesday.

In trading on Wednesday, utilities stocks dipped by 0.3%.

Top Headline

Thermo Fisher Scientific Inc. (NYSE:TMO) reported better-than-expected second-quarter financial results.

Thermo Fisher Scientific posted adjusted earnings of $5.36 per share, beating market estimates of $5.23 per share. The company's sales came in at $10.855 billion versus estimates of $10.684 billion.

Equities Trading UP
           

• ABIVAX Société Anonyme (NASDAQ:ABVX) shares shot up 561% to $66.10 after the company announced that Obefazimod met all its key secondary endpoints. JMP Securities raised its price target on the stock from $33 to $39.
• Shares of Alpha Modus Holdings, Inc. (NASDAQ:AMOD) got a boost, surging 60% to $1.8450 after the company announced it secured exclusive US rights to CashX kiosks.
• Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) shares were also up, gaining 75% to $3.21 after the company announced a reverse stock split with a ratio of at least 1-for-2500.

Equities Trading DOWN

• Fiserv, Inc. (NYSE:FI) shares dropped 18% to $136.99 following second-quarter financial results. Additionally, the company announced it entered into an equity purchase agreement to acquire part of TD’s merchant processing business in Canada.
• Shares of Texas Instruments Incorporated (NASDAQ:TXN) were down 12% to $188.47 following second-quarter results.
• Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) was down, falling 21% to $0.4124. The company announced the elimination of its series A preferred stock and its related obligations in exchange for 2.1 million common shares.

Commodities

In commodity news, oil traded down 1.7% to $65.09 while gold traded down 0.6% at $3,422.60.

Silver traded up 0.4% to $39.715 on Wednesday, while copper rose 2.8% to $5.8805.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 1.08%, while Spain's IBEX 35 Index rose 0.16%. London's FTSE 100 gained 0.56%, Germany's DAX 40 rose 0.63% and France's CAC 40 climbed 1.38% during the session.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei 225 surging 3.51%, Hong Kong's Hang Seng gaining 1.62%, China's Shanghai Composite gaining 0.01% and India's BSE Sensex rising 0.66%.

Economics

• U.S. existing-home sales declined 2.7% from the previous month to an annual rate of 3.93 million units in June.
• The volume of mortgage applications rose by 0.8% from the previous week during the third week of July.
• U.S. crude oil inventories declined by 3.169 million barrels in the week ended July 18, compared to market estimates of a 1.6 million fall.

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