U.S. stocks traded mixed midway through trading, with the S&P 500 edging lower on Wednesday.
The Dow traded up 0.08% to 42,267.94 while the NASDAQ fell 0.15% to 18,684.06. The S&P 500 also fell, dropping, 0.07% to 5,828.67.
Leading and Lagging Sectors
Communication services shares rose by 1.8% on Wednesday.
In trading on Wednesday, information technology shares fell by 1%.
Top Headline
Crude oil inventories in the U.S. declined by 0.515 million barrels in the week ended October 25, compared to a 5.474 million gain in the prior week and versus market estimates of a 2.3 million gain.
Equities Trading UP
- Tharimmune, Inc. (NASDAQ:THAR) shares shot up 104% to $4.13 after the company announced it received EMA feedback on its TH104 clinical program. The design and main features of the proposed Phase 2 study were deemed acceptable and general guidance was also provided for a future Phase 3 study.
- Shares of Omnicell, Inc. (NASDAQ:OMCL) got a boost, surging 37% to $54.78 after the company reported better-than-expected third-quarter financial results and raised its FY24 guidance above estimates.
- Reddit, Inc. (NYSE:RDDT) shares were also up, gaining 42% to $115.96 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter revenue guidance above estimates.
Equities Trading DOWN
- SRIVARU Holding Limited (NASDAQ:SVMH) shares dropped 58% to $0.0287 after the company announced it upsized its $6.8 million public offering.
- Shares of Vicinity Motor Corp. (NASDAQ:VEV) were down 48% to $0.0252. Vicinity Motor recently announced that all members of its board of directors have resigned.
- Applied DNA Sciences, Inc. (NASDAQ:APDN) was down, falling 38% to $0.1975 after the company announced the pricing of a registered direct offering of 20,312,500 shares at $0.32 per share. The company also announced a concurrent private placement.
Commodities
In commodity news, oil traded up 1.5% to $68.23 while gold traded up 0.4% at $2,792.20.
Silver traded down 1.3% to $34.00 on Wednesday, while copper rose 0.1% to $4.3625.
Euro zone
European shares were lower today. The eurozone's STOXX 600 dipped 1%, Germany's DAX fell 0.27% and France's CAC 40 slipped 0.61%. Spain's IBEX 35 Index fell 0.6%, while London's FTSE 100 fell 0.80%.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 gaining 0.96%, Hong Kong's Hang Seng Index dipping 1.55%, China's Shanghai Composite Index falling 0.61% and India's BSE Sensex falling 0.53%.
Economics
- Pending home sales in the U.S. surged by 7.4% from the previous month in September, compared to a 0.6% gain in August.
- The U.S. economy grew by an annualized 2.8% in the third quarter, from 3% in the second quarter.
- Private businesses in the U.S. hired 233K workers to their payrolls in October compared to a revised 159K gain in September.
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