Crude Oil Falls Over 3%; Regulus Therapeutics Shares Spike Higher

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling over 1% on Wednesday.

The Dow traded down 0.47% to 40,335.51 while the NASDAQ dipped 1.22% to 17,248.37. The S&P 500 also fell, dropping, 0.83% to 5,514.48.

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Leading and Lagging Sectors

Consumer staples shares rose by 0.3% on Wednesday.

In trading on Wednesday, energy stocks dipped by 3.3%.

Top Headline

The EIA reported that U.S. crude oil inventories declined by 2.696 million barrels in the week ended April 25, versus market estimates of a 0.39 million barrel gain.

Equities Trading UP

Regulus Therapeutics Inc. RGLS shares shot up 131% to $7.78 after the company announced it entered into an agreement to be acquired by Novartis AG for $7 in cash per share.
Shares of Jeffs’ Brands Ltd JFBRgot a boost, surging 45% to $1.23 after the company announced the sale of its Smart Repair Pro business for $11.8 million.
INVO Fertility, Inc. IVF shares were also up, gaining 75% to $2.8150 after the company announced fourth-quarter results.

Equities Trading DOWN

Vicor Corporation VICR shares dropped 20% to $41.33 after the company reported first-quarter financial results and missed its EPS and sales estimates.
Shares of GeneDx Holdings Corp. WGS were down 40% to $70.47 after the company posted first-quarter results.
Wabash National Corporation WNC was down, falling 28% to $7.13 after the company reported worse-than-expected first-quarter financial results and issued FY25 guidance below estimates.

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Commodities

In commodity news, oil traded down 3.4% to $59.75 while gold traded down 0.6% at $3,314.70.

Silver traded down 2.1% to $32.865 on Wednesday, while copper fell 5.7% to $4.5935.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.46%, Germany's DAX 40 rose 0.32% and France's CAC 40 gained 0.50%. Spain's IBEX 35 Index fell 0.59%, while London's FTSE 100 rose 0.37%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei gaining 0.57%, China's Shanghai Composite falling 0.23%, Hong Kong's Hang Seng Index gaining 0.51% and India's BSE Sensex falling 0.06%.

Economics

The U.S. economy shrank at an annualized rate of 0.3% during the first quarter of 2025, following a 2.4% growth in the prior quarter.
Private business in the U.S. created 62,000 workers to their payrolls in April following a revised 147,000 payrolls in the earlier month.
The Chicago PMI declined to 44.6 in April versus 47.6 in the previous month.
The EIA reported that U.S. crude oil inventories declined by 2.696 million barrels in the week ended April 25, versus market estimates of a 0.39 million barrel gain.
U.S. pending home sales rose 6.1% month-over-month in March, compared to markt estimates of 1%.
The core PCE price index came in unchanged from the previous month in March.

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