U.S. stocks closed mostly lower on Wednesday with the Nasdaq Composite dropping more than 200 points amid gains in Microsoft Corporation (NASDAQ: MSFT) and Amazon.com, Inc. (NASDAQ: AMZN) shares.
Gainers
ESSA Pharma Inc. (NASDAQ: EPIX) shares climbed 180.2% to close at $4.82 on Wednesday after the company highlighted updates results from the Phase 1/2 study of EPI-7386 with Enzalutamide At the 29th Annual Prostate Cancer Foundation Scientific Retreat.
U.S. stocks closed mostly lower on Wednesday, with the S&P 500 ending a three-session winning streak.
US new home sales fell to a 603,000 annual rate in September compared to a revised 677,000 a month ago, while trade gap on goods increased to a three-month high of $92.2 billion in September from a $87.3 billion deficit in the previous month.
Credit Suisse raised Visa Inc. (NYSE: V) price target from $235 to $245. Credit Suisse analyst Moshe Orenbuch maintained the stock with an Outperform rating. Visa shares rose 1.9% to close at $194.38 on Tuesday.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst's opinion to trust.
The CNN Money Fear and Greed index showed further improvement in the overall market sentiment after the US stocks recorded gains for third straight session.
A drop in bond yields added to the recent gains, with the yield on the benchmark 10-year Treasury note dropping to 4.087% on Tuesday.
U.S. stocks closed higher on Tuesday, with the Dow Jones gaining over 300 points. Here is the list of some big stocks recording losses in the previous session.