Midway through trading Wednesday, the Dow traded down 0.58 percent to 23,884.83 while the NASDAQ declined 0.44 percent to 6,976.23. The S&P also fell, dropping 0.41 percent to 2,623.78.
Leading and Lagging Sectors
On Wednesday, the materials shares gained 0.17 percent. Meanwhile, top gainers in the sector included Intrepid Potash, Inc. (NYSE: IPI), up 20 percent, and Silgan Holdings Inc. (NASDAQ: SLGN), up 7 percent.
In trading on Wednesday, real estate shares tumbled 0.81 percent.
Twitter Inc (NYSE: TWTR) reported better-than-expected results for its first quarter.
The social media company earned 16 cents per share in the first quarter on revenue of $664.87 million versus expectations of 11 cents per share and $605.26 million.
Advertising revenue rose 21 percent to $575 million, data licensing and other revenue rose 20 percent to $90 million. Monthly active users rose from 330 million in the fourth quarter to 336 million.
Equities Trading UP
K12 Inc. (NYSE: LRN) shares shot up 11 percent to $15.405 following Q3 results.
Shares of Travelzoo (NASDAQ: TZOO) got a boost, shooting up 25 percent to $9.70 following strong Q1 results.
Six Flags Entertainment Corporation (NYSE: SIX) shares were also up, gaining 9 percent to $64.54 as the company posted a narrower-than-expected loss for its first quarter.
Equities Trading DOWN
trivago N.V. (NASDAQ: TRVG) shares dropped 22 percent to $5.00 after reporting Q1 results.
Shares of Teradyne, Inc. (NYSE: TER) were down 15 percent to $35.22 after the company issued downbeat Q2 guidance.
HFF, Inc. (NYSE: HF) was down, falling around 17 percent to $39.07 following weaker-than-expected quarterly results.
In commodity news, oil traded up 0.13 percent to $67.79 while gold traded down 0.79 percent to $1,322.50.
Silver traded down 1.05 percent Wednesday to $16.61, while copper fell 0.16 percent to $3.159.
European shares were lower today. The eurozone’s STOXX 600 fell 0.76 percent, the Spanish Ibex Index fell 0.26 percent, while Italy’s FTSE MIB Index dipped 0.97 percent. Meanwhile the German DAX fell 1.02 percent, and the French CAC 40 declined 0.57 percent while U.K. shares fell 0.62 percent.
Crude supplies increased 2.2 million barrels for the week ended April 20, the U.S. Energy Information Administration reported. Analysts projected a fall of1.1 million barrels. Gasoline stockpiles rose 800,000 barrels, while distillate stockpiles slipped 2.6 million barrels for the week.
The Treasury is set to auction 5-year notes at 1:00 p.m. ET.