S&P 500 Rises 0.6%; Deere Earnings Beat Estimates

S&P 500 Rises 0.6%; Deere Earnings Beat Estimates

U.S. stocks traded higher toward the end of trading, with the Dow Jones gaining more than 100 points on Wednesday.

The Dow traded up 0.36% to 34,221.83 while the NASDAQ rose 1.06% to 11,292.79. The S&P 500 also rose, gaining, 0.61% to 4,027.81.

Also check this: Market Volatility Decreases Further After US Stocks Record Gains

Leading and Lagging Sectors

Consumer discretionary shares rose by 0.9% on Wednesday. Leading the sector was strength from Porch Group, Inc. (NASDAQ: PRCH) and Latham Group, Inc. (NASDAQ: SWIM).

In trading on Wednesday, energy shares fell by 2%.

Top Headline

 

Deere & Company (NYSE: DE) reported better-than-expected Q4 earnings and sales results.

Deere reported Q4 sales of $15.54 billion, beating the consensus of $13.39 billion. Q4 EPS of $7.44 surpassed the consensus of $7.11.

Deere said it sees FY23 net income of $8-$8.5 billion.

 

Equities Trading UP

 

  • Manchester United plc (NYSE: MANU) shares shot up 17% to $17.43 after the company announced a process to explore strategic alternatives.
  • Shares of Full Truck Alliance Co. Ltd. (NYSE: YMM) got a boost, shooting 13% to $6.95 after the company reported better-than-expected Q3 adjusted earnings per ADS and sales results.
  • Porch Group, Inc. (NASDAQ: PRCH) shares were also up, gaining 24% to $1.85. Porch Group Director, CEO, CHAIRMAN AND FOUNDER Matt …

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