All of the 11 sectors were lower at the time of writing, led by energy, down 3.4 per cent followed by materials and consumer discretionary, downgrading 1.6 and 1.5 per cent respectively.
Financials was the top performing sector. However, the sector still regressed 0.5 per cent at the time of writing.
Electronic retailer Best Buy was the top performing stock at the time of writing, advancing 2.3 per cent. This follows the company reporting a positive earnings announcement before market open. The retailer beat expectations at the revenue and earnings level for the most recent quarter.
Rounding out the top performers at the time of writing was manufacturing company Masco and paint materials supplier PPG Industries, improving 1.8 per cent and 1.7 per cent, respectively.
Nitrogenous fertiliser manufacturing company CF Industry Holdings was the bottom performing stock at the time of writing, slipping 6.5 per cent. This movement does not appear to relate to any news.
Closing out the bottom movers was mining company Freeport-McMoRan and agriculture company Mosaic, dropping 6.0 per cent and 5.7 per cent at the time of writing, respectively.
Rest of the World
Asian markets were mixed overnight. The Shanghai Composite declined 0.4 per cent, Nikkei rose 1.1 per cent, and the Hang Seng fell 0.4 per cent.
European markets were mixed. The FTSE slumped 0.9 per cent, the DAX was up 0.5 per cent and the CAC reduced 0.2 per cent.
Commodities
Gold traded 0.7 per cent lower to US$1,736.9 per ounce, while silver lost 2.0 per cent to US$18.31 per ounce.
WTI Crude Oil performed poorly, falling 5.1 per cent to US$92.1 per barrel at the time of writing.
The cryptocurrency market was in the red, with Bitcoin decreasing 1.9 per cent and Ethereum down 2.4 per cent.
The US 10-Year Treasury rate rose one basis point to 3.12 per cent alongside a one basis point drop in the 30-year rate, to 3.24 per cent.
New Zealand
The NZX 50 closed at 11,649 points, up 1.2 per cent following Tuesday's trading.
Infant formula producer, The a2 Milk Company, continued to see its share price rise, having increased a further 6.0 per cent yesterday.
The firm recently reported a 52 per cent increase in net profit, up from $80.7 million to $122.6 million, as well as announcing an on-market share buyback of up to $150 million.
Retirement village operator Summerset and donation services provider Pushpay increased 4.9 and 3.2 per cent, respectively.
On the flip side, freight terminal operator Port of Tauranga fell 2.4 per cent, despite having recently announced an increase in their shareholder dividend in their FY22 results.
Also seeing decreases in their share prices were biotechnology company Pacific Edge (-2.2 per cent) and media services company Sky TV (-2.0 per cent).
Australia
The ASX 200 closed in the green after yesterday's trading session, up 0.5 per cent.
All but one of the 11 sectors closed higher, led by information technology (+1.8 per cent) and energy (+1.4 per cent).
Materials was the only sector trading lower (-0.04 per cent).
Mining services company Mineral Resources led the top movers, trading 6.2 per cent higher yesterday, following its financial results for the fiscal year 2022.
Despite the company reporting net profit after tax of A$400 million, down 64.0 per cent from the previous year, managing director Chris Ellison said it "achieved the second-best financial performance in history".
The drop in earnings may be related to high iron ore prices and inflationary cost pressures.
Rounding out the top three performers was uranium miner Paladin Energy, which rose 5.8 per cent yesterday. Although there has been no news from Paladin Energy, the company's CEO said a month ago that Paladin was seeing an increase in global demand for uranium.
Conversely, Ramelius Resources Limited slid 5.2 per cent yesterday after reporting its financial results on Tuesday.
The gold mining company reported an underlying net profit after tax of A$73.0 million – 40.0 per cent lower than fiscal year 2021.
Higher gold prices likely impacted the company's fall in gold production, which was down 5.0 per cent year on year.
Domino's Pizza Enterprises traded 3.7 per cent lower after yesterday's trading session, based on no apparent news.
Copper mining firm Sandfire Resources fell 3.6 per cent following a decline in net profit after tax of A$111.4 million for the financial year ended 30 June 2022, down 13.0 per cent from the previous period. The company decided not to pay a final dividend.
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All market pricing and announcements are sourced from Refinitiv, NZX and ASX.
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