Nasdaq Gains Over 100 Points; Dollar Tree Post Upbeat Earnings

U.S. stocks traded mostly higher this morning, with the Nasdaq Composite gaining more than 100 points on Wednesday.

Following the market opening Wednesday, the Dow traded down 0.04% to 45,277.17 while the NASDAQ rose 0.66% to 21,420.84. The S&P 500 also rose, gaining, 0.37% to 6,439.91.

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Leading and Lagging Sectors

Communication services shares jumped by 3.2% on Wednesday.

In trading on Wednesday, consumer staples stocks fell by 0.3%.

Top Headline

Dollar Tree, Inc. (NASDAQ:DLTR) posted better-than-expected earnings for the second quarter.

The company posted adjusted earnings of 77 cents per share, beating market estimates of 41 cents per share. The company's quarterly sales came in at $4.567 billion versus expectations of $4.484 billion.

Equities Trading UP
           

• BT Brands, Inc. (NASDAQ:BTBD) shares shot up 132% to $4.2798 after the company announced it entered into a definitive merger agreement with Aero Velocity.
• Shares of Solidion Technology, Inc. (NASDAQ:STI) got a boost, surging 105% to $6.71.
• Senmiao Technology Limited (NASDAQ:AIHS) shares were also up, gaining 107% to $4.9709.

Equities Trading DOWN

• Chijet Motor Company, Inc. (NASDAQ:CJET) shares dropped 64% to $0.2044 after the company announced the pricing of a $8 million offering of 13.56 million shares and warrants at a combined price of $0.59 per share and accompanying warrant.
• Shares of Robot Consulting Co., Ltd. (NASDAQ:LAWR) were down 28% to $2.40.
• Wave Life Sciences Ltd. (NASDAQ:WVE) was down, falling 22% to $7.50. The company announced data from its 200 mg single and multidose and 400 mg single dose cohorts of its ongoing phase 1b/2a restoraation-2 study evaluating WVE-006 as treatment for AATD.

Commodities

In commodity news, oil traded down 2.1% to $64.19 while gold traded up 0.5% at $3,611.40.

Silver traded up 0.3% to $41.715 on Wednesday, while copper fell 0.5% to $4.6175.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.6%, while Spain's IBEX 35 Index rose 0.1%. London's FTSE 100 rose 0.4%, Germany's DAX 40 gained 0.7% and France's CAC 40 rose 0.9% during the session.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 falling 0.88%, Hong Kong's Hang Seng falling 0.60%, China's Shanghai Composite declining 1.16% and India's BSE Sensex gaining 0.51%.

Economics

The volume of mortgage applications in the US declined by 1.2% from the previous week in the week ending Aug. 2.

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