Crude Oil Rises Over 1%; General Mills Earnings Top Views

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

The Dow traded down 0.13% to 48,050.79 while the NASDAQ fell 1.18% to 22,838.26. The S&P 500 also fell, dropping, 0.73% to 6,750.66.

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Leading and Lagging SectorsEnergy shares rose by 1.3% on Wednesday.

In trading on Wednesday, information technology stocks fell by 1.8%.

Top Headline

General Mills Inc. (NYSE:GIS) posted better-than-expected second-quarter earnings and reaffirmed its fiscal 2026 outlook.

The company reported second-quarter adjusted earnings per share of $1.10, beating the analyst consensus estimate of $1.03. Quarterly sales of $4.86 billion (down 7% year over year) outpaced the Street view of $4.781 billion.

Equities Trading UP           

• Vyne Therapeutics Inc (NASDAQ:VYNE) shares shot up 57% to $0.63 after the company announced it entered into a definitive merger agreement pursuant to combine with Yarrow Bioscience.
• Shares of Udemy Inc (NASDAQ:UDMY) got a boost, surging 27% to $6.80. Coursera signed an all-stock merger agreement with Udemy.
• DBV Technologies SA – ADR (NASDAQ:DBVT) shares were also up, gaining 28% to $23.09 after the company announced topline results from the Phase 3 VITESSE trial met its primary endpoint.

Equities Trading DOWN

• Vistagen Therapeutics Inc (NASDAQ:VTGN) shares dropped 81% to $0.81 after the company announced PALISADE-3 Phase 3 study did not achieve its primary endpoint.
• Shares of Children’s Place Inc (NASDAQ:PLCE) were down 39% to $4.46 following worse-than-expected third-quarter financial results.
• Kyverna Therapeutics Inc (NASDAQ:KYTX) was down, falling 32% to $7.00 after the company announced pricing of $100 million public offering of common stock.

CommoditiesIn commodity news, oil traded up 1.7% to $56.21 while gold traded up 0.9% at $4,371.80.

Silver traded up 4.6% to $66.205 on Wednesday, while copper rose 1.4% to $5.4340.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.39%, while Spain's IBEX 35 Index rose 0.28%. London's FTSE 100 jumped 1.60%, Germany's DAX 40 rose 0.04% and France's CAC 40 declined 0.03% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan's Nikkei gaining 0.26%, Hong Kong's Hang Seng gaining 0.92%, China's Shanghai Composite rising 1.19% and India's BSE Sensex falling 0.14%.

Economics

• The volume of mortgage applications fell 3.8% in the week ended Dec. 12, following a 4.8% growth in the previous period.
• U.S. crude oil inventories declined by 1.274 million barrels in the week ended Dec. 12, compared to a 1.812 million barrel fall in the previous week and versus market estimates of a 1.1 million barrel draw.

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