Crude Oil Gains Over 1%; UP Fintech Shares Plunge

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 150 points on Wednesday.

The Dow traded up 0.40% to 45,599.62 while the NASDAQ rose 0.29% to 21,607.01. The S&P 500 also rose, gaining, 0.31% to 6,485.90.

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Leading and Lagging Sectors

Energy shares jumped by 0.7% on Wednesday.

In trading on Wednesday, materials stocks fell by 0.1%.

Top Headline

Crude oil inventories in the U.S. declined by 2.392 million barrels to 418.3 million barrels in the week ended Aug. 22, compared to market estimates of a 2 million-barrel drop.

Equities Trading UP
           

• MongoDB, Inc. (NASDAQ:MDB) shares shot up 32% to $283.92 after the company reported better-than-expected second-quarter financial results and raised its FY26 guidance above estimates.
• Shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) got a boost, surging 85% to $1.6594 after the company announced a one-time special cash dividend of $0.80 per share.
• Azitra, Inc. (NYSE:AZTR) shares were also up, gaining 28% to $0.9736 after the company announced the dosing of its first patient in its Phase 1/2 trial of ATR04-48.

Equities Trading DOWN

• UP Fintech Holding Limited (NASDAQ:TIGR) shares dropped 10% to $11.53 following the release of its second-quarter financial results.
• Shares of Yuanbao Inc. (NASDAQ:YB) were down 10% to $27.00 after reporting second-quarter results.
• Kindly MD, Inc. (NASDAQ:NAKA) was down, falling 20% to $6.45 after the company reported a $5 billion at-the-market equity offering program.

Commodities

In commodity news, oil traded up 1.3% to $64.09 while gold traded down 0.1% at $3,432.70.

Silver traded down 0.6% to $38.385 on Wednesday, while copper fell 1.5% to $4.4630.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 fell 0.12%, while Spain's IBEX 35 Index fell 0.90%. London's FTSE 100 fell 0.35%, Germany's DAX 40 fell 0.67% and France's CAC 40 rose 0.21% during the session.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 gaining 0.30%, Hong Kong's Hang Seng dipping 1.27% and China's Shanghai Composite declining 1.76%.

Economics

• The volume of mortgage applications declined by 0.5% from the previous week in the third week of August, following a 1.4% decline in the prior month.
• Crude oil inventories in the U.S. declined by 2.392 million barrels to 418.3 million barrels in the week ended Aug. 22, compared to market estimates of a 2 million-barrel drop.

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