Dow Jumps Over 1,300 Points; Delta Air Lines Shares Gain After Q1 Results

U.S. stocks traded higher this morning, with the Nasdaq Composite surging more than 3% on Wednesday.

Following the market opening Wednesday, the Dow traded up 2.85% to 47,910.78 while the NASDAQ surged 3.33% to 22,751.02. The S&P 500 also rose, gaining, 2.54% to 6,785.02.

Leading and Lagging Sectors

Consumer discretionary shares climbed by 3.9% on Wednesday.

In trading on Wednesday, energy stocks fell by 6.6%.

Top Headline

Shares of Delta Air Lines Inc (NYSE:DAL) jumped more than 10% on Wednesday after the company reported upbeat sales results for the first quarter.

The company posted quarterly earnings of 64 cents per share which missed the analyst consensus estimate of 65 cents per share. The company reported quarterly sales of $15.854 billion which beat the analyst consensus estimate of $13.944 billion.

Equities Trading UP
           

• Odyssey Marine Exploration Inc (NASDAQ:OMEX) shares shot up 121% to $1.84. Odyssey Marine Exploration and American Ocean Minerals signed a $1 billion merger agreement.
• Shares of Quince Therapeutics Inc (NASDAQ:QNCX) got a boost, surging 125% to $0.37 after jumping 86% on Tuesday. Quince Therapeutics recently announced a settlement of its outstanding obligations under a loan from the European Investment Bank for a payment of $5.5 million.
• U Power Ltd (NASDAQ:UCAR) shares were also up, gaining 99% to $1.10 after entering subscription agreements with seven purchasers to sell 2.9 million Class A shares.

Equities Trading DOWN

• Captivision Inc (NASDAQ:CAPT) shares dropped 81% to $0.073 after the company received delisting notice from the Nasdaq after failing to meet filing deadline.
• Shares of WM Technology Inc (NASDAQ:MAPS) were down 48% to $0.37 after the company announced plans to voluntarily delist its shares from Nasdaq.
• Ridgetech Inc (NASDAQ:RDGT) was down, falling 32% to $2.7699.

Commodities

In commodity news, oil traded down 17.9% to $92.74 while gold traded up 2.9% at $4,818.40.

Silver traded up 7.1% to $77.13 on Wednesday, while copper rose 3.6% to $5.7610.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 4.4%, while Spain's IBEX 35 Index rose 4.5%. London's FTSE 100 jumped 3.1%, Germany's DAX climbed 5.3% and France's CAC 40 surged 5% during the session.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 5.39%, China's Shanghai Composite gaining 2.69%, Hong Kong's Hang Seng Index jumping 3.09% and India's BSE Sensex gaining 3.95%.

Economics

U.S. mortgage applications fell by 0.8% from the previous week during the week ending April 3, compared to the cumulative 28.5% fall from the three prior weeks.

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