Crude Oil Gains 1.5%; Greenbrier Shares Spike Higher

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining around 150 points on Wednesday.

The Dow traded down 0.10% to 44,450.62 while the NASDAQ gained 0.78% to 20,360.92. The S&P 500 also rose, gaining, 0.25% to 6,213.50.

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Leading and Lagging Sectors

Information technology shares jumped by 1% on Wednesday.

In trading on Wednesday, utilities stocks fell by 1.3%.

Top Headline

U.S. crude oil inventories increased by 3.845 million barrels in the week ended June 27, versus market estimates of a 2 million barrel decline.

Equities Trading UP
           

• Hut 8 Corp. (NASDAQ:HUT) shares shot up 15% to $21.27 after announcing a key infrastructure win in Ontario.
• Shares of Mogo Inc. (NASDAQ:MOGO) got a boost, surging 105% to $2.4800 after the company announced a $50 million bitcoin treasury authorization.
• The Greenbrier Companies, Inc. (NYSE:GBX) shares were also up, gaining 18% to $55.58 after the company posted stronger-than-expected results for the third quarter.

Equities Trading DOWN

• Oscar Health, Inc. (NYSE:OSCR) shares dropped 15% to $17.49 after Barclays initiated coverage with an Underweight rating and announced a price target of $17.
• Shares of Molina Healthcare, Inc. (NYSE:MOH) were down 18% to $250.80. Shares of health insurance stocks traded lower in sympathy with Centene, which withdrew its 2025 guidance.
• Centene Corporation (NYSE:CNC) was down, falling 38% to $34.45 after the company withdrew its previous 2025 GAAP and adjusted diluted EPS guidance, including the underlying guidance elements.

Commodities

In commodity news, oil traded up 1.5% to $66.44 while gold traded up 0.1% at $3,354.00.

Silver traded up 0.7% to $36.635 on Wednesday, while copper rose 1.6% to $5.1820.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.13%, while Spain's IBEX 35 Index rose 0.35%. London's FTSE 100 fell 0.24%, Germany's DAX 40 gained 0.51% and France's CAC 40 gained 1.06% during the session.

Asia Pacific Markets

Asian markets closed lower on Wednesday, with Japan's Nikkei dipping 0.56%, China's Shanghai Composite falling 0.09% and India's BSE Sensex falling 0.34%.

Economics

• U.S.-based employers announced job cuts of 47,999 in June versus 93,816 in the previous month and 48,786 in the year-ago period.
• The volume of mortgage applications increased by 2.7% from the previous week during the last week of June.
• U.S. crude oil inventories increased by 3.845 million barrels in the week ended June 27, versus market estimates of a 2 million barrel decline.

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