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Crude Oil Rises 2%; Five Below Shares Plunge
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Crude Oil Rises 2%; Five Below Shares Plunge
Jul 17, 2024 9:35 AM

U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining around 200 points on Wednesday.

The Dow traded up 0.50% to 41,160.40 while the NASDAQ fell 2.46% to 18,053.81. The S&P 500 also fell, dropping, 1.15% to 5,601.75.

Check This Out: Amazon To Rally Around 9%? Here Are 10 Top Analyst Forecasts For Wednesday

Leading and Lagging Sectors

Real estate shares jumped by 1% on Wednesday.

In trading on Wednesday, information technology shares fell by 3.2%.

Top Headline

U.S. crude oil inventories declined by 4.87 million barrels in the week ended July 12, falling for the third consecutive week, the EIA said.

Equities Trading UP

                       

Aditxt, Inc ( ADTX ). shares shot up 28% to $2.04. Aditxt ( ADTX ) and Evofem amended merger agreement.

Shares of Aehr Test Systems ( AEHR ) got a boost, surging 24% to $20.90 after the company reported better-than-expected Q4 financial results and issued FY25 revenue guidance above estimates. Also, the company announced it entered into a stock purchase agreement and made $12.7 million in orders for its FOX WaferPak full wafer Contractors.

Shimmick Corporation ( SHIM ) shares were also up, gaining 58% to $2.04 after the company received a $27.6 million subcontract for the Sunol Valley Water Treatment Plant Ozonation Project.

Equities Trading DOWN

ASLAN Pharmaceuticals Limited ( ASLN ) shares dropped 42% to $0.6339 after the company announced that its Singapore-incorporated, sole operating subsidiary has filed for voluntary liquidation.

Shares of Cassava Sciences, Inc ( SAVA ). were down 29% to $9.64 after announcing changes in executive leadership. The company named Rick Barry as Executive Chairman and Principal Executive Office and said Remi Barbier resigned as President, CEO, and Board Member.

Five Below, Inc ( FIVE ). was down, falling 21% to $80.80 after the company announced a CEO transition. Additionally, comparable sales decreased in the 10-week period ended July 13.

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Commodities

In commodity news, oil traded up 2.2% to $82.56 while gold traded up 0.1% at $2,469.20.

Silver traded down 2.7% to $30.625 on Wednesday, while copper fell 0.9% to $4.4090.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 fell 0.44%, Germany's DAX fell 0.36% and France's CAC 40 rose 0.02%. Spain's IBEX 35 Index rose 0.20%, while London's FTSE 100 rose 0.33%.

Annual inflation rate in the Eurozone eased to 2.5% in June from 2.6% in May. French current account deficit shrank to EUR 3.1 billion in May versus a revised EUR 3.5 billion in the prior month.

U.K. producer prices increased 1.4% year-over-year in June following a 1.7% rise in the prior month, while annual inflation rate came in steady at 2% in June.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.43%, Hong Kong's Hang Seng Index gaining 0.06% and China's Shanghai Composite Index falling 0.45%.

Singapore’s non-oil domestic exports fell by 8.7% year-over-year in June following a revised 0.7% decline in May.

Economics

U.S. mortgage applications climbed by 3.9% during the third week of July.

U.S. housing starts increased by 3% from the prior month to an annualized rate of 1,314,000 in June compared to a revised 4.6% fall a month ago.

Building permits in the U.S. climbed by 3.4% to an annual rate of 1.446 million in June.

Industrial production in the U.S. climbed 0.6% from a month ago in June compared to market estimates of a 0.3% gain.

U.S. crude oil inventories declined by 4.87 million barrels in the week ended July 12, falling for the third consecutive week, the EIA said.

Now Read This: How To Earn $500 A Month From Domino’s Stock Ahead Of Q2 Earnings Report

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