Midway through trading Wednesday, the Dow traded up 0.21 percent to 26,549.00 while the NASDAQ climbed 0.25 percent to 8,027.28. The S&P also rose, gaining 0.22 percent to 2,921.85.
Leading and Lagging Sectors
On Wednesday, the communication services shares rose 0.67 percent. Meanwhile, top gainers in the sector included Intelsat S.A. (NYSE: I ) up 2 percent, and China Telecom Corporation Limited (NYSE: CHA ) up 2 percent.
In trading on Wednesday, materials shares fell 0.73 percent.
CarMax, Inc (NYSE: KMX ) reported better-than-expected results for its second quarter.
CarMax posted quarterly adjusted earnings of $1.24 per share on sales of $4.77 billion. However, analysts were expecting earnings of $1.21 per share on sales of $4.65 billion.
Equities Trading UP
Aldeyra Therapeutics Inc (NASDAQ: ALDX ) shares shot up 34 percent to $13.2795 after announcing positive Phase 2b results for its topical ocular reproxalap in patients with dry eye disease.
Shares of India Globalization Capital, Inc. (NYSE: IGC ) got a boost, shooting up 29 percent to $3.0100 after the company late Tuesday won an agreement for global rights to develop CBD-infused drinks.
Electromed, Inc. (NYSE: ELMD ) shares were also up, gaining 21 percent to $6.64 following Q4 results. Electromed posted Q4 earnings of $0.13 per share on sales of $8.2 million.
Equities Trading DOWN
Digital Ally, Inc. (NASDAQ: DGLY ) shares dropped 14 percent to $3.05. Digital Ally priced its 2.4 million share offering at $3.05 per share.
Shares of Aceto Corporation (NASDAQ: ACET ) were down 9 percent to $2.585. Garrett Motion Inc. will replace Aceto in the S&P SmallCap 600 on Tuesday, October 2.
Entasis Therapeutics Holdings Inc. (NASDAQ: ETTX ) was down, falling around 17 percent to $12.47. Entasis Therapeutics priced its upsized offering of 5 million shares at $15, below the estimated price range of $16 to $18.
In commodity news, oil traded down 0.35 percent to $72.03 while gold traded down 0.51 percent to $1,198.9.
Silver traded down 0.47 percent Wednesday to $14.425, while copper rose 0.5 to $2.8375.
European shares were mostly higher today. The eurozone's STOXX 600 climbed 0.04 percent, the Spanish Ibex Index rose 0.19 percent, while Italy's FTSE MIB Index declined 0.35 percent. Meanwhile the German DAX dropped 0.15 percent, and the French CAC 40 rose 0.46 percent while U.K. shares fell 0.07 percent.
U.S. new home sales rose 3.5 percent at an annual rate of 629,000 for August. However, economists were expecting a 630,000 rate.
Domestic crude supplies increased 1.9 million barrels for the week ended September 21, the Energy Information Administration reported. However, analysts were projecting a decline of 2.2 million barrels. Gasoline stockpiles climbed 1.5 million barrels, while distillate stockpiles dropped 2.2 million barrels for the week.
The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET.
The Fed Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.
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