Following the market opening Wednesday, the Dow traded down 0.30% to 35,706.59 while the NASDAQ fell 0.61% to 15,678.70. The S&P also fell, dropping 0.34% to 4,674.85.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 48,835,210 cases with around 796,310 deaths. India confirmed a total of at least 34,535,760 cases and 466,580 deaths, while Brazil reported over 22,038,730 COVID-19 cases with 613,240 deaths. In total, there were at least 259,206,800 cases of COVID-19 worldwide with more than 5,186,780 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
In trading on Wednesday, information technology shares fell 0.6%.
Deere & Company (NYSE: DE) reported upbeat results for its fourth quarter on Wednesday.
Deere posted quarterly earnings of $4.12 per share, beating analysts’ estimates of $3.90 per share. The company’s quarterly sales came in at $11.33 billion, versus expectations of $10.44 billion.
Deere said it sees FY22 net income of $6.5 billion to $7 billion.
Equities Trading UP
Biofrontera Inc. (NASDAQ: BFRI) shares shot up 115% to $5.66 after Roth Capital initiated coverage on the stock with a Buy rating and a $20 price target.
Shares of Longeveron Inc. (NASDAQ: LGVN) got a boost, shooting 50% to $25.82 after tumbling 39% on Tuesday. The company last week announced the FDA granted Rare Pediatric Disease designation for Lomecel-B for the treatment of Hypoplastic Left Heart Syndrome.
Better Therapeutics, Inc. (NASDAQ: BTTX) shares were also up, gaining 41% to $9.13 after Chardan Capital initiated coverage on the stock with a Buy rating and a $17 price target.
Equities Trading DOWN
Qualigen Therapeutics, Inc. (NASDAQ: QLGN) shares tumbled 36% to $1.64 after jumping around 105% on Tuesday.
Shares of Vallon Pharmaceuticals, Inc. (NASDAQ: VLON) were down 31% to $5.01 after jumping over 80% on Tuesday.
Petros Pharmaceuticals, Inc. (NASDAQ: PTPI) was down, falling 29% to $1.6499 after jumping over 75% on Tuesday.
In commodity news, oil traded down 0.5% to $78.11, while gold traded up 0.3% to $1,789.50.
Silver traded up 0.6% Wednesday to $23.575 while copper rose 0.7% to $4.4555.
European shares were lower today. The eurozone’s STOXX 600 fell 0.1%, the Spanish Ibex Index fell 0.2% and the German DAX 30 dropped 0.6%. Meanwhile, the London’s FTSE 100 fell 0.1%, French CAC 40 fell 0.5% and Italy’s FTSE MIB slipped 0.1%.
The Ifo Business Climate indicator for Germany dropped for the fifth month to 96.5 in November, while manufacturing climate indicator in France climbed to 109 in November from 107.
US durable goods orders dropped 0.5% month-over-month in…