Crude Oil Falls Over 3%; Regulus Therapeutics Shares Spike Higher

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling over 1% on Wednesday.

The Dow traded down 0.47% to 40,335.51 while the NASDAQ dipped 1.22% to 17,248.37. The S&P 500 also fell, dropping, 0.83% to 5,514.48.

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Leading and Lagging Sectors

Consumer staples shares rose by 0.3% on Wednesday.

In trading on Wednesday, energy stocks dipped by 3.3%.

Top Headline

The EIA reported that U.S. crude oil inventories declined by 2.696 million barrels in the week ended April 25, versus market estimates of a 0.39 million barrel gain.

Equities Trading UP
                       

• Regulus Therapeutics Inc. (NASDAQ:RGLS) shares shot up 131% to $7.78 after the company announced it entered into an agreement to be acquired by Novartis AG for $7 in cash per share.
• Shares of Jeffs’ Brands Ltd (NASDAQ:JFBR)got a boost, surging 45% to $1.23 after the company announced the sale of its Smart Repair Pro business for $11.8 million.
• INVO Fertility, Inc. (NASDAQ:IVF) shares were also up, gaining 75% to $2.8150 after the company announced fourth-quarter results.

Equities Trading DOWN

• Vicor Corporation (NASDAQ:VICR) shares dropped 20% to $41.33 after the company reported first-quarter financial results and missed its EPS and sales estimates.
• Shares of GeneDx Holdings Corp. (NASDAQ:WGS) were down 40% to $70.47 after the company posted first-quarter results.
• Wabash National Corporation (NYSE:WNC) was down, falling 28% to $7.13 after the company reported worse-than-expected first-quarter financial results and issued FY25 guidance below estimates.

Commodities

In commodity news, oil traded down 3.4% to $59.75 while gold traded down 0.6% at $3,314.70.

Silver traded down 2.1% to $32.865 on Wednesday, while copper fell 5.7% to $4.5935.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.46%, Germany's DAX 40 rose 0.32% and France's CAC 40 gained 0.50%. Spain's IBEX 35 Index fell 0.59%, while London's FTSE 100 rose 0.37%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei gaining 0.57%, China's Shanghai Composite falling 0.23%, Hong Kong's Hang Seng Index gaining 0.51% and India's BSE Sensex falling 0.06%.

Economics

• The U.S. economy shrank at an annualized rate of 0.3% during the first quarter of 2025, following a 2.4% growth in the prior quarter.
• Private business in the U.S. created 62,000 workers to their payrolls in April following a revised 147,000 payrolls in the earlier month.
• The Chicago PMI declined to 44.6 in April versus 47.6 in the previous month.
• The EIA reported that U.S. crude oil inventories declined by 2.696 million barrels in the week ended April 25, versus market estimates of a 0.39 million barrel gain.
• U.S. pending home sales rose 6.1% month-over-month in March, compared to markt estimates of 1%.
• The core PCE price index came in unchanged from the previous month in March.

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