Dow Jumps 200 Points; Lowe's Issues Weak Earnings Outlook
I'm LongbridgeAI, I can summarize articles.U.S. stocks rose, with the Dow Jones up over 200 points, while Lowe's reported strong Q4 earnings but issued a weak earnings outlook for FY2026. The Dow gained 0.41%, NASDAQ 0.77%, and S&P 500 0.55%. Notable stock movements included XWELL, Inc. surging 172% after a private placement announcement, while CASI Pharmaceuticals dropped 64% due to a delisting decision. In commodities, oil fell 0.2%, and gold rose 0.1%. European and Asian markets also closed higher, reflecting positive global sentiment.
U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 200 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.41% to 49,375.99 while the NASDAQ surged 0.77% to 23,040.20. The S&P 500 also rose, gaining, 0.55% to 6,928.15.
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Leading and Lagging Sectors
Information technology shares gained by 0.8% on Wednesday.
In trading on Wednesday, energy stocks fell by 0.3%.
Top Headline
Lowe’s Companies (NYSE:LOW) reported upbeat earnings for the fourth quarter but issued weak earnings guidance.
The company posted quarterly earnings of $1.98 per share which beat the analyst consensus estimate of $1.94 per share. The company reported quarterly sales of $20.584 billion which beat the analyst consensus estimate of $20.334 billion.
Lowe’s said it sees FY2026 adjusted EPS of $12.25-$12.75, versus market estimates of $12.95. The company expects sales of $92.000 billion-$94.000 billion versus estimates of $93.229 billion.
Equities Trading UP
- XWELL, Inc. (NASDAQ:XWEL) shares shot up 172% to $1.02. The company announced a $31.3 million private placement.
- Shares of VS MEDIA Holdings Limited (NASDAQ:VSME) got a boost, surging 42% to $1.7098.
- Rayonier Advanced Materials Inc. (NYSE:RYAM) shares were also up, gaining 31% to $9.40.
Equities Trading DOWN
- CASI Pharmaceuticals, Inc. (NASDAQ:CASI) shares dropped 64% to $0.2888 as the company received the delisting decision from the Nasdaq Hearings Panel.
- Shares of Zenvia Inc. (NASDAQ:ZENV) were down 60% to $0.3321 after the company announced plan to voluntary delist from the Nasdaq Capital Market and deregister with the U.S. Securities and Exchange Commission.
- Oddity Tech Ltd. (NASDAQ:ODD) was down, falling 54% to $13.48 after the company reported fourth-quarter financial results and issued first-quarter sales guidance below estimates.
Commodities
In commodity news, oil traded down 0.2% to $65.53 while gold traded up 0.1% at $5,181.20.
Silver traded up 2.4% to $89.635 on Wednesday, while copper rose 1.2% to $6.0010.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.6%, while Spain's IBEX 35 Index rose 0.8%. London's FTSE 100 rose 0.9%, Germany's DAX gained 0.7% and France's CAC 40 rose 0.4% during the session.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 2.20%, Hong Kong's Hang Seng index gaining 0.66%, China's Shanghai Composite gaining 0.72% and India's BSE Sensex rising 0.06%.
Economics
The volume of mortgage applications in the US increased by 0.4% from the previous week during the third week of February, compared to a 2.8% gain in the earlier period.