You are using an older browser version. Please use a supported version for the best MSN experience.

Dow Edges Higher; Crude Oil Drops Sharply

Benzinga logo Benzinga 11/16/2022 Lisa Levin
© Provided by Benzinga

U.S. stocks traded mixed midway through trading, with the Dow Jones turning higher on Wednesday.

The Dow traded up 0.05% to 33,608.43 while the NASDAQ fell 1.21% to 11,220.62. The S&P 500 also fell, dropping, 0.49% to 3,972.25.

Also check this: Volatility In Markets Increases Following Report Of Poland Missile Attack

Leading and Lagging Sectors

Utilities shares jumped 1.4% on Wednesday. Leading the sector was strength from Consolidated Water Co. Ltd. (NASDAQ: CWCO) and Pure Cycle Corporation (NASDAQ: PCYO).

In trading on Wednesday, information technology dipped by 1.2%.

Top Headline


US crude oil inventories dropped by 5.4 million barrels in the week ended November 11th, the EIA said.


Equities Trading UP

Trending: Elon Musk Asked A Top Tesla Executive To Forfeit Unvested Equity Awards And He Promptly Quit: Report - Te

Must Read: If You Invested $1,000 In Meta When Trump Was Kicked Off Facebook, You'd Have This Much Now

  InMed Pharmaceuticals Inc. (NASDAQ: INM) shares shot up 59% to $4.4201. InMed Pharmaceuticals advanced neurodegenerative disease program with Natural Sciences and Engineering Research Council of Canada alliance grant funding. Shares of Lizhi Inc. (NASDAQ: LIZI) got a boost, shooting 15% to $0.8279 after the company swung to a profit for the third quarter. Sportradar Group AG (NASDAQ: SRAD) shares were also up, gaining 13% to $11.48 after the company reported better-than-expected Q3 sales and raised FY22 revenue outlook.

Equities Trading DOWN Brookdale Senior Living Inc. (NYSE: BKD) shares tumbled 24% to $3.76 after the company announced an offering of tangible equity units. Shares of BrainsWay Ltd. (NASDAQ: BWAY) were down 28% to $2.30 after the company reported worse-than-expected Q3 EPS and sales results. Kidpik Corp. (NASDAQ: PIK) was down, falling 23% to $0.84 after the company reported a wider Q3 loss.

Also check out: Wall Street's Most Accurate Analysts Reshuffled Their Best Media Picks, Here They Are


In commodity news, oil traded down 2.6% to $84.68 while gold traded up 0.3% at $1,782.50.

Silver traded up 0.7% to $21.675 on Wednesday while copper fell 1.2% to $3.7745.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 1.06%, London’s FTSE 100 fell 0.28% while Spain’s IBEX 35 Index fell 1.06%. The German DAX dipped 1.11%, French CAC 40 fell 0.62% and Italy’s FTSE MIB Index fell 0.59%.

The annual inflation rate in Italy accelerated to 11.8% in October, the highest level in 37 years. Core producer prices in the UK rose by 13.3 percent year-over-year in October, while annual inflation rate in the UK increased to 11.1% in October from 10.1% in the prior month.


Asia Pacific Markets

Asian markets closed mixed on Wednesday, with the Japan’s Nikkei gaining 0.14% and Hong Kong’s Hang Seng Index falling 0.47%. China’s Shanghai Composite Index fell 0.45%.

Average new home prices in China declined by 1.6% year-over-year in October, while Japan's core machinery orders dipped 4.6% from a month ago in September. Australian wage price index rose by 3.1% year-over-year in the third quarter.


  The NAHB housing market index fell for an 11th consecutive month to a reading of 33 in November from 38 in the previous month. Manufacturers’ and trade inventories rose by 0.4% from a month ago in September. Industrial production fell 0.1% month-over-month in October. Retail sales in the US rose 1.3% month-over-month in October, notching the biggest rise in eight months. US export prices fell 0.3% from a month ago in October, while import prices fell by 0.2%. US crude oil inventories dropped by 5.4 million barrels in the week ended November 11th, the EIA said.

Check out this: Entera Bio And 2 Other Stocks Under $1 Insiders Are Aggressively Buying

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 99,974,380 cases with around 1,100,630 deaths. India confirmed a total of at least 44,667,740 cases and 530,530 deaths, while France reported over 37,182,160 COVID-19 cases with 157,930 deaths. In total, there were at least 641,101,820 cases of COVID-19 worldwide with more than 6,618,530 deaths.


More From Benzinga

image beaconimage beaconimage beacon