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Dow Dips Over 300 Points; Dick's Sporting Goods Posts Upbeat Earnings
U.S. stocks traded lower this morning, with the Dow Jones index falling more than 300 points on Wednesday.
Following the market opening Wednesday, the Dow traded down 0.90% to 38,505.03 while the NASDAQ fell 0.72% to 16,897.33. The S&P 500 also fell, dropping, 0.73% to 5,267.41 .
Check This Out: CrowdStrike To Rally Over 15%? Here Are 10 Top Analyst Forecasts For Wednesday
Leading and Lagging SectorsInformation technology shares jumped by 1.4% on Wednesday.
In trading on Wednesday, industrials shares fell by 1.3%.
Top Headline
Dick’s Sporting Goods Inc (NYSE:DKS) reported better-than-expected first-quarter FY24 earnings and raised the outlook.
The company reported first-quarter FY24 sales growth of 6.2% year-on-year to $3.02 billion, beating the analyst consensus estimate of $2.94 billion.
Comparable store sales increased 5.3% versus a 3.6% growth a year ago. Adjusted EPS of $3.30 beat the analyst consensus estimate of $2.95.
Equities Trading UP
ReShape Lifesciences Inc. (NASDAQ:RSLS) shares shot up 128% to $0.4750 a day after it received the nod from the U.S. Patent And Trademark Office to issue a patent for its obesity treatment.
Shares of Brand Engagement Network, Inc. (NASDAQ:BNAI) got a boost, surging 49% ...