U.S. stocks experienced mixed trading conditions, with the Dow Jones dropping over 50 points on Wednesday.

The Dow declined by 0.20% to 38,194.62, while the NASDAQ gained 0.19% to 15,686.43. The S&P 500 also climbed by 0.11% to 4,958.84.

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Industrials shares surged by 1% on Wednesday while energy shares experienced a 0.2% decline.

Louisiana-Pacific Corp LPX reported stronger than anticipated results for its fourth quarter.

Louisiana-Pacific recorded a 6.7% year-over-year drop in fourth-quarter fiscal 2023 net sales, amounting to $658 million, surpassing the consensus of $619.97 million. Adjusted earnings per share stood at 71 cents, up from 61 cents compared to the prior year, outpacing the consensus of 55 cents.

enGene Holdings Inc. ENGN experienced a 75% surge to $13.34. The company’s CEO Jason Hanson is resigning due to personal family and health reasons, but he will continue to provide support to the company as a strategic advisor after the appointment of a successor. Concurrently, enGene announced a private placement of 20 million common shares at $10.00 per share, representing a 31% premium over the previous day’s closing price.

Shares of Lyft, Inc.LYFT soared by 34% to $16.22 after the company reported fourth-quarter sales of $1.22 billion and gross bookings of $3.7 billion, reflecting a 17% year-over-year increase. The company’s CFO, Erin Brewer, mentioned that the adjusted EBITDA margin is expected to expand by 50 basis points in 2024.

Healthcare Services Group, Inc.HCSG also witnessed a 27% surge to $12.01 following positive earnings.

Azitra, Inc. AZTR observed a 70% drop to $0.2626. Azitra priced its $5 million public offering of 16.667 million common shares at $0.30 per share.

Shares of QuidelOrtho Corporation QDEL declined by 33% to $44.92 after the company reported fourth-quarter financial results below expectations and issued a FY24 adjusted EPS projection lower than estimates.

Ohmyhome Limited OMH dropped by 39% to $1.38 after the company priced its upsized $4.8 million public offering of 3,555,555 ordinary shares at $1.35 per share.

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In commodity news, oil traded down 0.6% to $77.38, and gold traded down 0.5% at $1,998.20. Silver experienced a 0.2% increase to $22.19, while copper fell 0.2% to $3.7040 on Wednesday.

European shares experienced positive movement. The eurozone’s STOXX 600 increased by 0.52%, London’s FTSE 100 rose by 0.69%, while Spain’s IBEX 35 Index observed a 0.01% rise. The German DAX, French CAC 40, and Italy’s FTSE MIB Index also saw gains of 0.41%, 0.70%, and 0.64% respectively.

The Eurozone economy remained at a standstill during the final quarter of 2023, compared to a 0.1% decline in the prior three-month period. Industrial production in the Eurozone experienced a 2.6% month-over-month increase in December.

The UK’s inflation rate remained unchanged at 4.0% in January, in comparison to market estimates of 4.2%. Factory gate prices of goods produced by UK manufacturers declined by 0.6% year-over-year in January following a 0.1% increase in December.

Asian markets closed with mixed performances on Wednesday; Japan’s Nikkei 225 fell 0.69%, Hong Kong’s Hang Seng Index gained 0.84%, and India’s S&P BSE Sensex increased by approximately 0.5%.

India’s wholesale prices recorded a 0.27% year-over-year increase in January, down from 0.73% in December.

U.S. mortgage applications declined by 2.3% in the week ending Feb. 9, following a 3.7% increase in the previous week. Crude oil inventories in the U.S. surged by 12.018 million barrels in the week ending Feb. 9, surpassing market estimates of a 2.56 million increase.

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