Crude Oil Moves Higher; Jabil Shares Slide After Q2 Results

U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 400 points on Wednesday.

The Dow traded down 0.87% to 46,583.64 while the NASDAQ fell 0.51% to 22,363.99. The S&P 500 also fell, dropping, 0.53% to 6,680.61.

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Leading and Lagging Sectors

Energy shares climbed by 0.2% on Wednesday.

In trading on Wednesday, consumer staples stocks fell by 1.6%.

Top Headline

Jabil Inc. (NYSE:JBL) stock fell more than 3% on Wednesday after the manufacturing services provider delivered stronger-than-expected fiscal second-quarter 2026 results and raised its full-year outlook.

Quarterly adjusted earnings per share of $2.69, beating the analyst consensus estimate of $2.51.

Quarterly net revenue of $8.28 billion, down by 23.1% year-over-year (Y/Y), outpaced the analyst consensus estimate of $7.74 billion.

Equities Trading UP
           

• Nextnav Inc (NASDAQ:NN) shares shot up 12% to $18.93 following strong quarterly sales.
• Shares of AIM ImmunoTech Inc (NYSE:AIM) got a boost, surging 65% to $1.17 after the company announced that the Japan Patent Office has approved a Japanese patent covering the proprietary use of Ampligen in combination with checkpoint inhibitors for the treatment of cancer.
• Artelo Biosciences Inc (NASDAQ:ARTL) shares were also up, gaining 45% to $7.01 after the company announced a Definitive Investigator-Initiated Study Agreement with the Belfast Health and Social Care Trust, to be funded by Glaucoma UK and the HSC R&D Division. The study will evaluate the effects of Artelo’s peripherally selective synthetic cannabinoid, ART27.13, in patients with glaucoma or ocular hypertension.

Equities Trading DOWN

• Sailpoint Inc (NASDAQ:SAIL) shares dropped 17% to $12.20 after the company reported worse-than-expected fourth-quarter EPS results and issued first-quarter guidance below estimates. Also, the company issued FY27 sales guidance with its midpoint below estimates.
• Shares of Boyd Group Services Inc (NYSE:BGSI) were down 12% to $142.16 after reporting fourth-quarter results.
• Clearpoint Neuro Inc (NASDAQ:CLPT) was down, falling 11% to $9.93 following fourth-quarter results.

Commodities

In commodity news, oil traded up 2.8% to $98.92 while gold traded down 2.6% at $4,877.20.

Silver traded down 3.5% to $77.120 on Wednesday, while copper fell 3.4% to $5.57.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.5%, while Spain's IBEX 35 Index fell 0.1%. London's FTSE 100 fell 0.8%, Germany's DAX declined 0.5% and France's CAC 40 rose 0.1% during the session.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei 225 jumping 2.87%, Hong Kong's Hang Seng index gaining 0.61%, China's Shanghai Composite rising 0.32% and India's BSE Sensex gaining 0.83%.

Economics

• U.S. producer prices increased 0.7% month-over-month in February compared to 0.5% in the previous month, and higher than market estimates of 0.3%.
• U.S. mortgage applications dipped 10.9% in the week ending March 13, recording the sharpest plunge since Sept. 2025.

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