Wednesday's session on Wall Street began with sizable increases in the various indexes. At one point, contracts on the US100 were up more than 2.5%. By now, however, most of these increases have been erased. At this point, the previously mentioned US100 is up 0.54%, the US500 is up 0.58%, and the US2000 is losing 0.2%.
The European session saw clear gains in most stock indexes. Germany's DAX gained 1.47%, France's CAC40 added 1.91%, and Britain's FTSE 100 is up 1.75%.
Novo Nordisk shares lost 6.5% in today's session following the release of disappointing quarterly results. Wegova's second-quarter sales came in at DKK 11.7 billion ($1.7 billion), compared to the average estimate of DKK 13.7 billion. The company also lowered its forecast for the full year 2024.
Super Micro Computer is down 18% after releasing mixed results for the fourth quarter of fiscal 2024, which fell short of all analysts' expectations.
Disney reported better-than-expected results, achieving positive revenue growth in all segments, as well as posting a positive result on its streaming business. However, the company disappointed the market on Experience segment revenues, which translated into 3.4% declines.
In the FX market, the biggest gains today were seen in Antipodean currencies. However, dovish statements from the BoJ's Uchida weakened the Japanese yen significantly.
WTI crude oil prices rose 3% on Wednesday, rebounding from multi-month lows, after DOE data showed a larger-than-expected drop in US crude inventories.
US crude inventories fell for the sixth week in a row, shrinking by 3.7 million barrels to a total of 429.3 million barrels last week, according to EIA data. Analysts had estimated that inventories would fall by just 700,000 barrels.
Cryptocurrencies reversed early rallies and are now trading down. Bitcoin is losing nearly 1.5% and Ethereum is down 4.5%.