US Stocks Edge Higher; Kraft Heinz Earnings Top Views

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 0.06% to 44,660.57 while the NASDAQ rose 0.19% to 21,138.92. The S&P 500 also rose, gaining, 0.10% to 6,377.27.

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Leading and Lagging Sectors

Utilities shares jumped by 0.7% on Wednesday.

In trading on Tuesday, energy stocks dipped by 0.7%.

Top Headline

Kraft Heinz Co (NASDAQ:KHC) reported better-than-expected earnings for the second quarter on Wednesday.

The company posted quarterly earnings of 69 cents per share which beat the analyst consensus estimate of 64 cents per share. The company reported quarterly sales of $6.352 billion which beat the analyst consensus estimate of $6.261 billion.

Equities Trading UP
           

• Replimune Group Inc (NASDAQ:REPL) shares shot up 62% to $6.09 after gaining 18% on Tuesday.
• Shares of BioNexus Gene Lab Corp (NASDAQ:BGLC) got a boost, surging 59% to $7.10 after the company and Fidelion signed a term sheet.
• Rocky Brands Inc (NASDAQ:RCKY) shares were also up, gaining 27% to $29.24 after the company announced better-than-expected quarterly earnings.

Equities Trading DOWN

• Vyne Therapeutics Inc (NASDAQ:VYNE) shares dropped 72% to $0.41 after the company announced that Phase 2b trial with Repibresib Gel in nonsegmental vitiligo did not meet primary endpoint or key secondary endpoint of F-VASI50 and F-VASI75.
• Shares of Sos Ltd – ADR (NASDAQ:SOS) were down 50% to $3.03 after the company announced the pricing of $7.5 million registered direct offering.
• Pheton Holdings Ltd (NASDAQ:PTHL) was down, falling 44% to $0.92.

Commodities

In commodity news, oil traded up 0.6% to $69.60 while gold traded up 1% at $3,356.50.

Silver traded up 1.2% to $37.810 on Wednesday, while copper fell 0.6% to $5.5935.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.1%, while Spain's IBEX 35 Index gained 0.1%. London's FTSE 100 fell 0.1%, Germany's DAX 40 gained 0.3% and France's CAC 40 rose 0.5% during the session.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.05%, Hong Kong's Hang Seng falling 1.36%, China's Shanghai Composite rising 0.17% and India's BSE Sensex gaining 0.18%.

Economics

• U.S. pending home sales declined by 0.8% from the previous month in May following a 1.8% gain in April.
• The U.S. economy expanded at an annualized rate of 3% in the second quarter following a 0.5% contraction in the previous quarter.
• Private businesses in the U.S. added 104,000 jobs in July, compared to market estimates of a 75,000 increase.

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