Gold Gains 1%; Wingstop Shares Spike Higher

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite gaining around 0.5% on Wednesday.

The Dow traded up 0.02% to 44,639.69 while the NASDAQ rose 0.46% to 21,195.54. The S&P 500 also rose, gaining, 0.21% to 6,384.38.

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Leading and Lagging Sectors

Utilities shares jumped by 0.8% on Wednesday.

In trading on Tuesday, energy stocks dipped by 1.2%.

Top Headline

Crude oil inventories in the U.S. increased by 7.698 million barrels in the week ended July 25, compared to market estimates of a 2 million decline.

Equities Trading UP
           

• Wingstop Inc. (NASDAQ:WING) shares shot up 24% to $360.20 after the company reported better-than-expected second-quarter EPS and sales.
• Shares of FTAI Aviation Ltd. (NASDAQ:FTAI) got a boost, surging 20% to $137.34 after the company reported better-than-expected quarterly EPS and sales.
• Rocky Brands Inc (NASDAQ:RCKY) shares were also up, gaining 26% to $29.00 after the company announced better-than-expected quarterly earnings.

Equities Trading DOWN

• Vyne Therapeutics Inc (NASDAQ:VYNE) shares dropped 74% to $0.3764 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 55% to $2.7184 after the company announced the pricing of $7.5 million registered direct offering.
• Avis Budget Group, Inc. (NASDAQ:CAR) was down, falling 15% to $172.40 following worse-than-expected quarterly EPS and sales.

Commodities

In commodity news, oil traded up 0.8% to $69.73 while gold traded up 1% at $3,356.50.

Silver traded down 1.3% to $37.775 on Wednesday, while copper fell 0.9% to $5.5750.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.01%, while Spain's IBEX 35 Index gained 0.21%. London's FTSE 100 fell 0.08%, Germany's DAX 40 gained 0.20% and France's CAC 40 rose 0.26% 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.
• Crude oil inventories in the U.S. increased by 7.698 million barrels in the week ended July 25, compared to market estimates of a 2 million decline.

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