Following the market opening Wednesday, the Dow traded up 0.59 percent to 26,930.94 while the NASDAQ climbed 0.54 percent to 8,043.08. The S&P also rose, gaining 0.53 percent to 2,938.87.
Leading and Lagging Sectors
Wednesday morning, the financial shares rose 0.59 percent. Meanwhile, top gainers in the sector included Greenpro Capital Corp. (NASDAQ: GRNQ ) up 24 percent, and Jupai Holdings Limited (NYSE: JP ) up 13 percent.
In trading on Wednesday, materials shares fell 0.31 percent.
Lennar Corporation (NYSE: LEN ) reported better-than-expected results for its third quarter.
Lennar posted quarterly adjusted earnings of $1.61 per share on sales of $5.67 billion. However, analysts were expecting earnings of $1.19 per share on sales of $5.64 billion. Lennar's orders surged 51.6 percent to 31,473 homes for the quarter.
Equities Trading UP
vTv Therapeutics Inc. (NASDAQ: VTVT ) shares shot up 150 percent to $5.00 after surging 158.77 percent on Tuesday.
Shares of Neovasc Inc. (NASDAQ: NVCN ) got a boost, shooting up 27 percent to $2.86 after reporting positive 12-week follow-up data from the first U.S. patient implanted with a Neovasc Reducer. The patient reported improvement in walking abilities and decreased pain.
Endologix, Inc. (NASDAQ: ELGX ) shares were also up, gaining 13 percent to $1.94 after the company reported third-quarter preliminary sales of $34.3 million to $34.7 million. The company narrowed FY18 sales guidance from $145 millionto $155 million, to $150 million to $155 million.
Equities Trading DOWN
Oragenics, Inc. (NASDAQ: OGEN ) shares dropped 30 percent to $2.49 after climbing 123.12 percent on Tuesday.
Shares of Kala Pharmaceuticals, Inc. (NASDAQ: KALA ) were down 15 percent to $7.86. Kala Pharma said it commenced an underwritten public offering of 7.50 million shares. Separately, the company said it closed its $110 million credit facility with funds managed by Athyrium Capital Management.
India Globalization Capital, Inc. (NYSE: IGC ) was down, falling around 24 percent to $9.88 after rising 46.34 percent on Tuesday.
In commodity news, oil traded down 0.44 percent to $74.90 while gold traded up 0.02 percent to $1,207.20.
Silver traded up 0.35 percent Wednesday to $14.745, while copper fell 0.14 to $2.8025.
European shares were mostly higher today. The eurozone's STOXX 600 climbed 0.60 percent, the Spanish Ibex Index rose 1.01 percent, while Italy's FTSE MIB Index gained 1.07 percent. Meanwhile the German DAX dropped 0.42 percent, and the French CAC 40 rose 0.53 percent while U.K. shares rose 0.53 percent.
Private-sector employers added 230,000 jobs in September, Automatic Data Processing Inc. reported. However, economists were expecting a rise of 187,000 jobs.
The Markit services PMI rose to 53.50 for September, versus prior reading of 52.90. Economists projected a reading of 52.90.
The ISM's non-manufacturing index rose to 61.60 for September, versus previous reading of 58.50. However, economists projected a reading of 58.10.
The Energy Information Administration's weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.
Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in Baltimore, MD at 12:00 p.m. ET.
Federal Reserve Board of Governors member Lael Brainard will speak in Chicago at 1:00 p.m. ET.
Cleveland Federal Reserve Bank President Loretta Mester is set to speak in St. Louis at 2:15 p.m. ET.
Federal Reserve Chairman Jerome Powell will speak in Washington D.C. at 4:00 p.m. ET.
Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Lawrence, Kansas at 8:00 p.m. ET.
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