U.S. stocks traded higher midway through trading, with the Dow Jones index gaining around 1% on Wednesday.

The Dow traded up 1% to 49,856.91 while the NASDAQ gained 1.27% to 26,199.40. The S&P 500 also rose, gaining, 0.87% to 7,417.31.

Leading and Lagging Sectors

Information technology shares jumped by 0.8% on Wednesday.

In trading on Wednesday, consumer staples stocks fell by 1.4%.

Top Headline

Lowe's Companies, Inc. (NYSE:LOW) posted upbeat first-quarter earnings and revenue.

The home improvement retailer reported first-quarter fiscal 2026 adjusted EPS of $3.03, beating analyst estimates of $2.97, while revenue of $23.1 billion topped estimates of $22.98 billion.

Equities Trading UP
         

• Immunovant Inc (NASDAQ:IMVT) shares shot up 28% to $33.55 following fourth-quarter results.
• Shares of Roivant Sciences Ltd (NASDAQ:ROIV) got a boost, surging 12% to $31.72 after the company reported better-than-expected fourth-quarter adjusted EPS results.
• TAT Technologies Ltd (NASDAQ:TATT) shares were also up, gaining 15% to $37.60 after the company reported better-than-expected first-quarter financial results.

Equities Trading DOWN

• Perion Network Ltd (NASDAQ:PERI) shares dropped 16% to $8.95 after the company reported mixed first-quarter financial results.
• Shares of Mayville Engineering Company Inc (NYSE:MEC) were down 10% to $21.15 after the company announced the pricing of its $86.9 million proposed public offering of 4.348 million shares at $20 per share.
• Corvex Inc (NASDAQ:MOVE) was down, falling 8% to $20.50 following first-quarter results.

Commodities

In commodity news, oil traded down 5.1% to $98.84 while gold traded down 0.5% at $4,490.50.

Silver traded up 0.1% to $75.160 on Wednesday, while copper rose 1.1% to $6.2750.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.5%, while Spain's IBEX 35 Index rose 0.5%. London's FTSE 100 gained 0.4%, Germany's DAX rose 0.6%, while France's CAC 40 rose 0.9%.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 falling 1.23%, Hong Kong's Hang Seng Index falling 0.57%, China's Shanghai Composite declining 0.18% and India's BSE Sensex gaining 0.16%

Economics

• U.S. mortgage applications declined by 2.3% in the second week of May, following a 1.7% gain in the previous period.
• Crude oil inventories in the US fell by 7.9 million barrels in the week ending May 15, compared to market estimates of a 2.9 million draw, the Energy Information Administration reported. 

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