Nasdaq Surges Over 2%; Goldman Sachs Posts Upbeat Q4 Results
U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 2% on Wednesday.
The Dow traded up 1.68% to 43,232.26 while the NASDAQ rose 2.34% to 19,489.33. The S&P 500 also rose, gaining, 1.77% to 5,946.09.
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Leading and Lagging Sectors
Consumer discretionary shares surged by 2.6% on Tuesday.
In trading on Tuesday, consumer staples shares rose by just 0.2%.
Top Headline
Goldman Sachs Group Inc. (NYSE:GS) reported better-than-expected fourth-quarter financial results.
Goldman Sachs reported fourth-quarter revenue of $13.87 billion, beating the consensus of $12.39 billion. Revenue increased by 23% year-over-year, reflecting growth across all segments, with significant growth in Global Banking & Markets.
Goldman Sachs clocked fourth-quarter GAAP EPS of $11.95, beating the consensus of $8.30. Full-year GAAP EPS was $40.54, beating the consensus of $36.55.
Equities Trading UP
- Safe & Green Holdings Corp. (NASDAQ:SGBX) shares shot up 154% to $1.37. Safe & Green Holdings announced the execution of a binding Letter of Intent to acquire 100% of the outstanding securities of New Asia Holdings Inc.
- Shares of Vision Marine Technologies Inc. (NASDAQ:VMAR)got a boost, surging 41% to $1.97 after the company announced it filed its latest patent application with the United States Patent and Trademark Office for a Battery Authentication Encryption Technology.
- Compass Inc (NYSE:COMP) shares were also up, gaining 16% to $6.49 after the company raised its FY24 guidance.
Equities Trading DOWN
- Keros Therapeutics Inc (NASDAQ:KROS) shares dropped 15% to $10.64 after the company announced an update on its Phase 2 TROPOS trial and halted all dosing based on the ongoing safety review.
- Shares of Aclarion, Inc. (NASDAQ:ACON) were down 55% to $0.043 after the company reported the pricing of $14.4m public offering of common stock and warrants.
- Azitra, Inc. (NYSE:AZTR) was down, falling 39% to $0.25 after the company announced the pricing of a $1.5 million public offering.
Commodities
In commodity news, oil traded up 2% to $79.00 while gold traded up 0.6% at $2,699.30.
Silver traded up 2.2% to $31.005 on Wednesday, while copper rose 0.8% to $4.3775.
Euro zone
European shares were higher today. The eurozone's STOXX 600 surged 1.27%, Germany's DAX 40 gained 1.53% and France's CAC 40 gained 0.95%. Spain's IBEX 35 Index gained 1.20%, while London's FTSE 100 gained 1.04%.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.08%, China's Shanghai Composite Index declining 0.43%, Hong Kong's Hang Seng Index gaining 0.34% and India's BSE Sensex rising 0.29%.
Economics
The headline Consumer Price Index rose 2.9% year-over-year in December, according to Wednesday's data from the Bureau of Labor Statistics.
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