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Mid-Morning Market Update: Markets Open Lower; Acuity Brands Posts Upbeat Q4 Results

Following the market opening Wednesday, the Dow traded down 1.12% to 33,929.34 while the NASDAQ fell 0.69% to 14,334.78. The S&P also fell, dropping 0.90% to 4,306.41.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 43,950,080 cases with around 705,280 deaths. India confirmed a total of at least 33,871,880 cases and 449,530 deaths, while Brazil reported over 21,499,070 COVID-19 cases with 598,820 deaths. In total, there were at least 235,908,850 cases of COVID-19 worldwide with more than 4,818,980 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Communication services shares slipped by just 0.3% on Wednesday. Meanwhile, top gainers in the sector included uCloudlink Group Inc. (NYSE: UCL), up 5% and NextPlay Technologies, Inc. (NASDAQ: NXTP) up 3%.

In trading on Wednesday, energy shares dipped 2.7%.

Top Headline
Acuity Brands, Inc. (NYSE: AYI) reported better-than-expected results for its fourth quarter.
Acuity Brands …
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