U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 500 points on Wednesday.

The Dow traded up 3.45% to 43,678.43 while the NASDAQ rose 2.84% to 18,963.41. The S&P 500 also rose, gaining, 2.44% to 5,923.85.

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Leading and Lagging SectorsFinancial shares surged by 5.9% on Tuesday.

In trading on Tuesday, real estate shares fell by 3.3%.

Top Headline

Johnson Controls International plc (NYSE:JCI) reported better-than-expected earnings for its fourth quarter on Wednesday.

The company posted quarterly earnings of $1.28 per share which beat the analyst consensus estimate of $1.20 per share. The company reported quarterly sales of $7.39 billion which beat the analyst consensus estimate of $7.17 billion.

Equities Trading UP                       

• Cytek Biosciences, Inc. (NASDAQ:CTKB) shares shot up 29% to $7.02 following upbeat quarterly results.
• Shares of United Fire Group, Inc. (NASDAQ:UFCS) got a boost, surging 26% to $25.15 following upbeat quarterly earnings.
• Treace Medical Concepts, Inc. (NASDAQ:TMCI) shares were also up, gaining 32% to $7.59 following strong quarterly results.

Equities Trading DOWN

• Sunnova Energy International Inc. (NYSE:NOVA) shares dropped 49% to $3.5750. Shares of solar stocks traded lower following Donald Trump’s presidential election victory.
• Shares of Zoomcar Holdings, Inc. (NASDAQ:ZCAR) were down 50% to $6.65 after the company announced the pricing of $9.15 million private placement.
• PACS Group, Inc. (NYSE:PACS) was down, falling 42% to $17.00 after the company announced postponement of third-quarter results and disclosure on civil investigative demands from the federal government.

CommoditiesIn commodity news, oil traded up 0.1% to $72.05 while gold traded down 2.7% at $2,676.50.

Silver traded down 4.4% to $31.345 on Wednesday, while copper fell 5.2% to $4.2445.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.54%, Germany's DAX dipped 1.13% and France's CAC 40 fell 0.51%. Spain's IBEX 35 Index fell 2.90%, while London's FTSE 100 fell 0.07%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 gaining 2.61%, Hong Kong's Hang Seng Index falling 2.23%, China's Shanghai Composite Index falling 0.09% and India's BSE Sensex gaining 1.13%.

Economics

• U.S. mortgage applications fell by 10.8% from the previous week in the week ended Nov. 1.
• U.S. crude oil inventories increased by 2.149 million barrels in the week ended Nov. 1, compared to market estimates of a 1.8 million gain.

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