U.S. stocks traded lower toward the end of trading, with the S&P 500 falling more than 1% on Wednesday.

The Dow traded down 1.32% to 42,358.19 while the NASDAQ fell 2.06% to 18,190.21. The S&P 500 also fell, dropping, 1.33% to 5,773.33.

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Leading and Lagging Sectors

Real estate shares rose by 0.7% on Wednesday.

In trading on Wednesday, information technology shares fell by 2.1%.

Top Headline

U.S. crude oil inventories increased by 5.474 million barrels in the week ended Oct. 18, compared to market estimates of a 0.7 million gain.

Equities Trading UP

La Rosa Holdings Corp. shares shot up 165% to $1.3000 after the company reported preliminary 9-moth revenue growth of 120% year over year.

Shares of CNS Pharmaceuticals, Inc. ( CNSP ) got a boost, surging 73% to $0.2704. The company requested a panel hearing for November 5, 2024, and will be subject to a halt in the suspension or delisting decision until then.

Virax Biolabs Group Limited ( VRAX ) shares were also up, gaining 57% to $2.6399 after the company announced a distribution agreement with Europa Biosite to commercialize the ImmuneSelect research-use portfolio in the United Kingdom and Ireland.

Equities Trading DOWN

Alto Neuroscience, Inc. ( ANRO ) shares dropped 67% to $4.7398 after the company announced topline results from a Phase 2b trial evaluating ALTO-100 as a treatment for major depressed disorder did not meet its primary endpoint.

Shares of Constellium SE ( CSTM ) were down 29% to $10.59 after the company reported third-quarter EPS and sales that missed estimates, citing macroeconomic and geopolitical uncertainties, and expressed caution heading into 2025.

Enphase Energy, Inc. ( ENPH ) was down, falling 15% to $78.67 after the company reported worse-than-expected third-quarter financial results.

Commodities

In commodity news, oil traded down 1.7% to $70.54 while gold traded down 1% at $2,732.70.

Silver traded down 3.4% to $33.835 on Wednesday, while copper fell 1% to $4.3350.

Euro zone

European shares closed mostly lower today. The eurozone's STOXX 600 fell 0.30%, Germany's DAX fell 0.23% and France's CAC 40 fell 0.50%. Spain's IBEX 35 Index rose 0.27%, while London's FTSE 100 fell 0.58%.

Consumer confidence in the Eurozone rose by 0.4 points to a reading of -12.5 in October.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.80%, Hong Kong's Hang Seng Index gaining 1.27%, China's Shanghai Composite Index gaining 0.52% and India's BSE Sensex falling 0.17%.

Singapore's annual inflation rate eased to 2.0% in September versus 2.2% in the previous month.

Economics

U.S. mortgage applications declined by 6.7% from the previous week during the third week of October, following a 17% dip in the earlier period.

U.S. existing home sales declined 1% from the previous month to an annualized rate of 3.84 million in September.

U.S. crude oil inventories increased by 5.474 million barrels in the week ended Oct. 18, compared to market estimates of a 0.7 million gain.

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