U.S. equity markets traded mixed on Wednesday, a day after snapping their losing streaks.

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The Dow Jones Industrial Average gained 11 points, or 0.04% while the S&P 500 and the Nasdaq Composite were off 0.28% and 0.58%, respectively.

TickerSecurityLastChangeChange %I:DJIDOW JONES AVERAGES27157.74-130.44-0.48%SP500S&P 5003289.48-26.09-0.79%I:COMPNASDAQ COMPOSITE INDEX10828.804372-134.83-1.23%

The Dow on Tuesday snapped its three-day skid as the S&P and Nasdaq ended their losing streaks at four days.

Looking at stocks, Tesla Inc.’s Battery Day event failed to deliver the 1 million-mile battery that Wall Street analysts were expecting. The headlines were instead a new battery pack that will reduce kilowatt-hour costs by 50% and improve vehicle range by 16%.

TickerSecurityLastChangeChange %TSLATESLA INC.391.93-32.30-7.61%JNJJOHNSON & JOHNSON145.87+1.69+1.17%

Johnson & Johnson’s single-shot COVID-19 vaccine candidate is moving ahead to a Phase 3 trial that will include up to 60,000 adults. There is no clear timeline for when a successful vaccine would be available for distribution.

Looking at earnings, Nike Inc. shares soared to a record high after the sports-apparel giant reported quarterly profit rose 11% from a year ago as COVID-19 resulted in surging online sales of sneakers and workout apparel.

KB Home beat on both the top and bottom lines, but the number of homes delivered fell 16% year-over-year to 2,545 amid disruptions caused by the pandemic.

TickerSecurityLastChangeChange %NKENIKE INC.128.22+11.24+9.61%KBHKB HOME38.55-1.94-4.79%SFIXSTITCH FIX26.29-5.09-16.22%

Stitch Fix Inc. reported a deeper-than-expected loss while sales grew 9% from the prior quarter as the subscription-based personal shopping platform worked through supply chain issues caused by COVID-19.

Elsewhere, Lululemon Athletica Inc. resumed its share buyback program that was paused amid the COVID-19 pandemic. The program, which expires on Jan. 31, 2021, has $263.6 million remaining.

TickerSecurityLastChangeChange %LULULULULEMON ATHLETICA INC.320.78+7.18+2.29%

Looking at commodities, gold fell $37.10 to $1,870.50 an ounce and West Texas Intermediate crude oil inched up 67 cents to $40.47 per barrel.

U.S. Treasurys fell, causing the yield on the 10-year note to climb 2.5 basis points to 0.689%.

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European markets were sharply higher with Britain’s FTSE trading up 1.58%, France’s CAC advancing 1.12% and Germany’s DAX gaining 0.9%.

In Asia, markets ended little changed with Japan’s Nikkei off 0.06% while Hong Kong’s Hang Seng and China’s Shanghai Composite edged up 0.11% and 0.16%, respectively.

Source Link:
https://www.foxbusiness.com/markets/us-stocks-sept-23-2020

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