Crude Oil Moves Lower; Williams-Sonoma Shares Gain After Q3 Results

U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling by more than 100 points on Wednesday.

The Dow traded down 0.27% to 43,153.13 while the NASDAQ fell 0.88% to 18,820.86. The S&P 500 also fell, dropping, 0.63% to 5,879.70.

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Leading and Lagging Sectors

Health care shares rose by 0.7% on Wednesday.

In trading on Wednesday, consumer discretionary shares fell by 1.2%.

Top Headline

The EIA said crude oil inventories in the U.S. increased by 0.545 million barrels in the week ended Nov. 15, compared to market estimates of a 0.4 million gain.

Equities Trading UP
                       

• Quantum-Si incorporated (NASDAQ:QSI) shares shot up 120% to $1.3941 after the company announced a distribution agreement with Avantor for next-generation protein sequencing portfolios for researchers.
• Shares of Williams-Sonoma, Inc. (NYSE:WSM) got a boost, surging 28% to $175.78 after the company reported better-than-expected third-quarter financial results.
• Forte Biosciences, Inc. (NASDAQ:FBRX) shares were also up, gaining 124% to $12.57 after the company secured $53 million in oversubscribed private placement to advance FB102 clinical programs across autoimmune indications, with key data readouts expected in 2025.

Equities Trading DOWN

• X3 Holdings Co., Ltd. (NASDAQ:XTKG) shares dropped 38% to $1.0299. The company announced a 1-for-20 reverse stock split.
• Shares of PainReform Ltd. (NASDAQ:PRFX) were down 27% to $1.0299 after the company announced initial topline data for PRF-110 Phase 3 clinical trial.
• Volato Group, Inc. (NYSE:SOAR) was down, falling 24% to $0.3580. Volato reported $40.3 million in revenue and confirmed NYSE acceptance of compliance plan in third quarter 10-Q.

Commodities

In commodity news, oil traded down 0.4% to $69.10 while gold traded up 0.9% at $2,655.40.

Silver traded down 0.4% to $31.130 on Wednesday, while copper rose 0.3% to $4.1560.

Euro zone

European shares closed lower today. The eurozone's STOXX 600 fell 0.02%, Germany's DAX declined 0.29% and France's CAC 40 fell 0.43%. Spain's IBEX 35 Index rose 0.01%, while London's FTSE 100 fell 0.17%.

Construction output in the Eurozone fell by 1.6% year-over-year in September compared to a 2.5% decline in the previous month. Producer prices in Germany fell by 1.1% year-over-year in October.

UK's producer prices declined by 0.8% year-over-year in October versus a revised 0.6% fall in September. Annual inflation rate in the UK rose to 2.3% in October from 1.7% in September.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 falling 0.16%, Hong Kong's Hang Seng Index gaining 0.21% and China's Shanghai Composite Index gaining 0.66%.

Japan's trade deficit shrank to JPY 461.25 billion in October compared to JPY 702.86 in the year-ago month.

Economics

• Mortgage applications in the U.S. rose 1.7% from the previous week in the week ending Nov. 15, compared to a 0.5% gain in the prior period.
• The EIA said crude oil inventories in the U.S. increased by 0.545 million barrels in the week ended Nov. 15, compared to market estimates of a 0.4 million gain.

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