Dow Gains 100 Points; Joby Aviation Shares Spike Higher

Author: Avi Kapoor | October 02, 2024 11:01am

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining around 100 points on Wednesday.

The Dow traded up 0.24% to 42,256.16 while the NASDAQ rose 0.27% to 17,958.08. The S&P 500 also rose, gaining, 0.16% to 5,717.63.

Leading and Lagging Sectors

Information technology shares jumped by 0.9% on Wednesday.

In trading on Wednesday, real estate shares dipped by 0.9%.

Top Headline

NIKE, Inc (NYSE:NKE) reported mixed first-quarter results on Tuesday.

The company reported first-quarter revenue of $11.59 billion, missing analyst estimates of $11.65 billion. The athletic footwear and apparel company reported first-quarter earnings of 70 cents per share, beating analyst estimates of 52 cents per share.

Equities Trading UP

Joby Aviation, Inc. (NYSE:JOBY) shares shot up 20% to $5.74 after the company announced that Toyota will invest an additional $500 million to support the certification and commercial production of the electric air taxi.
Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) got a boost, surging 10% to $11.77 after the company announced the receipt of several dredging awards totaling $342.3 million.
MMTec, Inc. (NASDAQ:MTC) shares were also up, gaining 38% to $0.6480. Shares of US-listed Chinese stocks traded higher on continued strength following recent stimulus measures and the start of the National Day Golden Week.

Equities Trading DOWN

Humana Inc. (NYSE:HUM) shares dropped 18% to $230.39 after the company provided update on decline in Stars performance for 2025 and how it will impact quality bonus payments in 2026.
Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) were down 36% to $2.28 after the company announced it will be delisted from the Nasdaq.
Aditxt Inc (NASDAQ:ADTX) was down, falling 31% to $3.05. Aditxt recently announced a 1-for-40 reverse stock split.

Commodities

In commodity news, oil traded up 0.6% to $70.22 while gold traded down 0.8% at $2,669.60.

Silver traded up 1% to $32.03 on Wednesday, while copper rose 1% to $4.6350.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.01%, Germany's DAX fell 0.38% and France's CAC 40 fell 0.09%. Spain's IBEX 35 Index fell 0.65%, while London's FTSE 100 gained 0.14%.

The unemployment rate in the Eurozone came in unchanged from the previous month at 6.4% in August.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 dipping 2.18% and Hong Kong's Hang Seng Index jumping 6.20%.

Economics

Private businesses in the U.S. added 143,000 workers to their payrolls during the month of September compared to a revised 103,000 gain in August and higher than market estimates of 124,000, the ADP said.
The EIA said crude oil inventories in the U.S. climbed by 3.889 million barrels for the week ended Sept. 27, versus market estimates of a 1.3 million decline.

Now Read This: