Crude Oil Down Over 1%; Stitch Fix Shares Plummet

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining over 50 points on Wednesday.

The Dow traded down 0.35% to 42,060.13 while the NASDAQ rose 0.39% to 18,145.24. The S&P 500 also rose, gaining, 0.06% to 5,736.28.

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Leading and Lagging Sectors

Information technology shares jumped by 0.9% on Wednesday.

In trading on Wednesday, energy shares fell by 1.1%.

Top Headline

Sales of new single-family houses in the U.S. fell by 4.7% from the prior month to an annualized rate of 716,000 in August, compared to a revised 10.3% gain in July.

Equities Trading UP
                       

• Capricor Therapeutics, Inc. CAPR shares shot up 20% to $ 10.87. Maxim Group and Oppenheimer increased price targets on the stock.
• Shares of Eightco Holdings Inc. OCTO got a boost, surging 66% to $4.14. Eightco Holdings expects to deliver revenues of $100 million for 2025.
• CERo Therapeutics Holdings, Inc. CERO shares were also up, gaining 20% to $0.1122 after the company announced it secured $1.25 million in financing and requested an FDA type A meeting to address the clinical hold on CER-1236.

Equities Trading DOWN

• Vertex Energy, Inc. VTNR shares dropped 65% to $0.1272 after the company announced it filed for Chapter 11 bankruptcy.
• Shares of Stitch Fix, Inc. SFIX were down 35% to $2.4401 after the company reported worse-than-expected fourth-quarter EPS results.
• Target Hospitality Corp. TH was down, falling 18% to $7.71 after the company announced that the Company’s Board of Directors has determined to disband the Special Committee.

Commodities

In commodity news, oil traded down 1.4% to $70.57 while gold traded up 0.5% at $2,689.20.

Silver traded up 0.1% to $32.43 on Wednesday, while copper rose 0.5% to $4.5120.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 fell 0.20%, Germany's DAX fell 0.54% and France's CAC 40 fell 0.66%. Spain's IBEX 35 Index fell 0.31%, while London's FTSE 100 fell 0.22%.

Producer prices in Spain declined by 1.3% year-over-year in August compared to a revised 1.6% decline in the previous month. The consumer confidence indicator in France climbed to 95.1 in September from 92.5 in the prior month.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 falling 0.19%, Hong Kong's Hang Seng Index jumping 0.68%, China's Shanghai Composite Index gaining 1.16% and India's BSE Sensex gaining 0.30%.

The People's Bank of China cut its one-year policy loan rate by 30bps to 2.0%.

Economics

• U.S. building permits increased by 4.6% to an annual rate of 1.470 million in August.
• U.S. mortgage applications rose by 11% from the prior week during the week ending Sept. 20, compared to a 14.2% increase in the previous week.
• Sales of new single-family houses in the U.S. fell by 4.7% from the prior month to an annualized rate of 716,000 in August of 2024, compared to a revised 10.3% gain in the prior month.

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