Crude Oil Falls; Thermo Fisher Scientific Earnings Top Views – Abivax (NASDAQ:ABVX), Alpha Modus Holdings (NASDAQ:AMOD)

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 350 points on Wednesday.

The Dow traded up 0.82% to 44,869.16 while the NASDAQ rose 0.16% to 20,925.86. The S&P 500 also rose, gaining, 0.44% to 6,337.46.

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Leading and Lagging Sectors

Industrials shares jumped by 1.1% on Wednesday.

In trading on Wednesday, utilities stocks dipped by 0.3%.

Top Headline

Thermo Fisher Scientific Inc. TMO reported better-than-expected second-quarter financial results.

Thermo Fisher Scientific posted adjusted earnings of $5.36 per share, beating market estimates of $5.23 per share. The company’s sales came in at $10.855 billion versus estimates of $10.684 billion.

Equities Trading UP
           

ABIVAX Société Anonyme ABVX shares shot up 561% to $66.10 after the company announced that Obefazimod met all its key secondary endpoints. JMP Securities raised its price target on the stock from $33 to $39.

Shares of Alpha Modus Holdings, Inc. AMOD got a boost, surging 60% to $1.8450 after the company announced it secured exclusive US rights to CashX kiosks.

Anebulo Pharmaceuticals, Inc. ANEB shares were also up, gaining 75% to $3.21 after the company announced a reverse stock split with a ratio of at least 1-for-2500.

Equities Trading DOWN

Fiserv, Inc. FI shares dropped 18% to $136.99 following second-quarter financial results. Additionally, the company announced it entered into an equity purchase agreement to acquire part of TD’s merchant processing business in Canada.

Shares of Texas Instruments Incorporated TXN were down 12% to $188.47 following second-quarter results.

Dragonfly Energy Holdings Corp. DFLI was down, falling 21% to $0.4124. The company announced the elimination of its series A preferred stock and its related obligations in exchange for 2.1 million common shares.

Commodities

In commodity news, oil traded down 1.7% to $65.09 while gold traded down 0.6% at $3,422.60.

Silver traded up 0.4% to $39.715 on Wednesday, while copper rose 2.8% to $5.8805.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 1.08%, while Spain’s IBEX 35 Index rose 0.16%. London’s FTSE 100 gained 0.56%, Germany’s DAX 40 rose 0.63% and France’s CAC 40 climbed 1.38% during the session.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan’s Nikkei 225 surging 3.51%, Hong Kong’s Hang Seng gaining 1.62%, China’s Shanghai Composite gaining 0.01% and India’s BSE Sensex rising 0.66%.

Economics

U.S. existing-home sales declined 2.7% from the previous month to an annual rate of 3.93 million units in June.

The volume of mortgage applications rose by 0.8% from the previous week during the third week of July.

U.S. crude oil inventories declined by 3.169 million barrels in the week ended July 18, compared to market estimates of a 1.6 million fall.

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