Markets struggle but south Alabama stocks net gains
Only nine gainers amounted to an underwhelming day Wednesday on our Mobile and Alabama Stock Report, but there was some local flavor among the risers.
Enviva led the way at 2.6%. The wood pellet manufacturer partially exports out of the Port of Mobile and has a major facility coming soon to Epes in Sumter County.
Mobile-based Computer Programs and Systems picked up .6%. It is a provider of health care solutions and services for community hospitals.
ArcelorMittal gained .4%.
Overall, U.S. stocks slumped Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it.
The S&P 500 fell 41.75, or 0.9%, to 4,402.20. The Dow Jones Industrial Average lost 76.85, or 0.2%, to 34,440.88, and the Nasdaq composite dropped 209.06, or 1.5%, to 13,469.13.