Gold Gains 1%; Performance Food Group Shares Fall After Q4 Results

U.S. stocks traded mostly higher midway through trading, with the Dow Jones index gaining around 0.1% on Wednesday.

The Dow traded up 0.09% to 53,838.24 while the NASDAQ rose 0.47% to 26,569.48. The S&P 500 also rose, gaining, 0.24% to 7,746.41.

Leading and Lagging Sectors

Information technology shares jumped by 1.1% on Wednesday.

In trading on Wednesday, communication services stocks fell by 1.3%.

Top Headline

Performance Food Group Co (NYSE:PFGC) shares fell over 6% on Wednesday after the company reported worse-than-expected fourth-quarter financial results and issued first-quarter guidance below estimates.

Performance Food reported quarterly earnings of $1.59 per share which missed the analyst consensus estimate of $1.60 per share. The company reported quarterly sales of $18.029 billion which missed the analyst consensus estimate of $18.088 billion.

Equities Trading UP
           

• American Integrity Insurance Group Inc (NYSE:AII) shares shot up 17% to $23.58 after the company reported better-than-expected quarterly financial results.
• Shares of ERock Inc (NYSE:EROC) got a boost, surging 20% to $13.51 after the company reported better-than-expected quarterly financial results.
• Boxlight Corp (NASDAQ:BOXL) shares were also up, gaining 69% to $4.96 after the company announced it closed a private placement for up to $7.5 million in newly created Series D Convertible Preferred Stock.

Equities Trading DOWN

• National CineMedia, Inc. (NASDAQ:NCMI) shares dropped 31% to $2.62 after the company reported worse-than-expected second-quarter financial results. Also, the company acquired Captivate Holdings.
• Shares of United States Antimony Corp (NYSE:UAMY) were down 22% to $5.15 after the company reported worse-than-expected second-quarter financial results and cut its FY26 sales guidance below estimates.
• Sutro Biopharma Inc (NASDAQ:STRO) was down, falling 16% to $21.00 after the company announced downbeat quarterly results.

Commodities

In commodity news, oil traded down 0.1% to $83.10 while gold traded up 1.1% at $4,488.30.

Silver traded up 2.2% to $66.335 on Wednesday, while copper rose 0.4% to $6.66.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 gained 0.1%, while Spain’s IBEX 35 Index rose 0.2% London’s FTSE 100 fell 0.1%, Germany’s DAX gained 0.3%, while France’s CAC 40 fell 0.3%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan’s Nikkei 225 gaining 0.83%, Hong Kong’s Hang Seng index dipping 0.83%, China’s Shanghai Composite rising 0.32% and India’s BSE Sensex declining 0.24%.

Economics

• The Consumer Price Index (CPI) rose 3.4% year-over-year in July, line with the annual inflation economists expected and down from June’s 3.5% increase, the Bureau of Labor Statistics reported Wednesday.
• On a monthly basis, consumer prices rose 0.1% in July, a rebound from June’s 0.4% decline and matching the 0.1% economists expected.
• The volume of mortgage applications increased by 3.6% in the first week of August, recording the largest gain in two months.
• U.S. crude inventories jumped by 17.422 million barrels to 424.4 million barrels during the week ended Aug. 7, versus market estimates of a 1.4 million-barrel decline.

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