Crude Oil Moves Lower; Photronics Shares Surge After Q4 Results

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

The Dow traded up 0.50% to 47,799.21 while the NASDAQ fell 0.18% to 23,533.49. The S&P 500 also rose, gaining, 0.11% to 6,849.05.

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Leading and Lagging SectorsIndustrials shares jumped by 0.8% on Wednesday.

In trading on Wednesday, information technology stocks fell by 0.6%.

Top Headline

U.S. crude oil inventories declined by 1.812 million barrels in the week ended Dec. 5, compared to a 0.574 million barrel gain in the previous week and versus market estimates of a 2.3 million barrel decline.

Equities Trading UP           

• Photronics Inc (NASDAQ:PLAB) shares shot up 35% to $34.66 after the company reported better-than-expected fourth-quarter results and issued first-quarter guidance above analyst estimates.
• Shares of Braze Inc (NASDAQ:BRZE) got a boost, surging 16% to $35.42 after the company raised its FY2026 adjusted EPS and sales guidance following better-than-expected third-quarter revenue.
• Enveric Biosciences, Inc. (NASDAQ:ENVB) shares were also up, gaining 78% to $10.56. The Massachusetts-based biotech company received a Notice of Allowance from the U.S. Patent and Trademark Office for a patent application related to its EVM301 Series molecules, which are being developed as potential treatments for mental health disorders.

Equities Trading DOWN

• AeroVironment, Inc. (NASDAQ:AVAV) shares dropped 10% to $252.56 after the company reported mixed earnings and issued mixed guidance.
• Shares of Mama’s Creations Inc (NASDAQ:MAMA) were down 9% to $13.03, Mama’s Creations recently reported upbeat third-quarter financial results.
• Pomdoctor Limited (NASDAQ:POM) was down, falling 73% to $1.4799.

CommoditiesIn commodity news, oil traded down 0.8% to $57.78 while gold traded down 0.3% at $4,225.70.

Silver traded up 0.5% to $61.150 on Wednesday, while copper rose 0.7% to $5.3550.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 rose 0.05%, while Spain's IBEX 35 Index rose 0.12%. London's FTSE 100 rose 0.23%, Germany's DAX 40 fell 0.17% and France's CAC 40 fell 0.45% during the session.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei falling 0.10%, Hong Kong's Hang Seng gaining 0.42%, China's Shanghai Composite declining 0.23% and India's BSE Sensex declining 0.32%.

Economics

• U.S. compensation costs for civilian workers rose 0.8% in the third quarter, compared to a 0.9% gain in the previous period.
• The volume of mortgage applications increased 4.8% in the first week of December versus the previous week.
• U.S. crude oil inventories declined by 1.812 million barrels in the week ended Dec. 5, compared to a 0.574 million barrel gain in the previous week and versus market estimates of a 2.3 million barrel decline.

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