Dow Jumps More Than 400 Points; IHS Holding Posts Upbeat Q3 Results

U.S. stocks traded mixed this morning, with the Dow Jones index gaining more than 400 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.87% to 48,343.46 while the NASDAQ fell 0.23% to 23,414.10. The S&P 500 also rose, gaining, 0.13% to 6,855.64.

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Leading and Lagging Sectors

Financial shares jumped by 1.2% on Wednesday.

In trading on Wednesday, communication services stocks fell by 1%.

Top Headline

IHS Holding Limited (NYSE:IHS) reported better-than-expected third-quarter results and raised its FY2025 sales guidance.

IHS reported quarterly earnings of 44 cents per share which beat the analyst consensus estimate of 10 cents per share. The company reported quarterly sales of $455.100 million which beat the analyst consensus estimate of $424.395 million.

Equities Trading UP
           

• Leap Therapeutics, Inc. (NASDAQ:LPTX) shares shot up 87% to $0.8153 after the company reported better-than-expected third-quarter EPS results.
• Shares of Creative Media & Community Trust Corporation (NASDAQ:CMCT) got a boost, surging 65% to $7.91 after the company announced an agreement to sell its lending division to PG FR Holding.
• Salarius Pharmaceuticals, Inc. (NASDAQ:SLRX) shares were also up, gaining 46% to $1.4201. Salarius Pharmaceuticals announced the pricing of a $7 million underwritten public offering.

Equities Trading DOWN

• VisionSys AI Inc. (NASDAQ:VSA) shares dropped 77% to $0.2932 after the company announced the pricing of a $12 million registered direct offering.
• Shares of Leifras Co., Ltd. (NASDAQ:LFS) were down 33% to $7.59. According to Benzinga Pro data, shares of the youth sports company surged 576.79% to close at $11.37 in regular trading on Tuesday.
• Graphjet Technology (NASDAQ:GTI) was down, falling 27% to $2.8473.

Commodities

In commodity news, oil traded down 2.1% to $59.74 while gold traded up 0.6% at $4,139.70.

Silver traded up 1.9% to $51.71 on Wednesday, while copper rose 1.4% to $5.1370.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.7%, while Spain’s IBEX 35 Index gained 1.4%. London’s FTSE 100 rose 0.1%, Germany’s DAX 40 gained 1.1% and France’s CAC 40 climbed 1.2% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan’s Nikkei 225 gaining 0.43%, Hong Kong’s Hang Seng surging 0.85%, China’s Shanghai Composite declining 0.07% and India’s BSE Sensex rising 0.71%.

Economics

The volume of mortgage applications rose by 0.6% from the previous week during the first week of November.

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