Crude Oil Down 5%; Uber Shares Jump After Q3 Results

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 400 points on Wednesday.

The Dow traded up 2.77% to 53,221.04 while the NASDAQ climbed 1.62% to 25,782.48. The S&P 500 also rose, gaining, 1.57% to 7,687.56.

Leading and Lagging Sectors

Consumer discretionary shares jumped by 4.3% on Wednesday.

In trading on Wednesday, energy stocks fell by 3.6%.

Top Headline

Shares of Uber Technologies Inc. (NYSE:UBER) jumped around 8% on Wednesday as the company reported mixed third-quarter 2026 results.

Uber reported third-quarter revenue of $14.77 billion, up 10% year over year. Revenue topped Wall Street’s estimate of $14.70 billion. Adjusted earnings of 88 cents per share missed analysts’ expectations of 96 cents.

Equities Trading UP
           

• Cricut Inc (NASDAQ:CRCT) shares shot up 45% to $8.68 after the company reported better-than-expected third-quarter financial results.
• Shares of Alight Inc (NYSE:ALIT) got a boost, surging 54% to $15.59 after the company reported better-than-expected third-quarter financial results and raised its FY26 sales guidance above estimates.
• Array Technologies Inc (NASDAQ:ARRY) shares were also up, gaining 21% to $5.58 following strong quarterly sales.

Equities Trading DOWN

• Amdocs Ltd (NASDAQ:DOX) shares dipped 27% to $45.88 after the company reported worse-than-expected fourth-quarter financial results and issued FY27 guidance below estimates.
• Shares of Neutron Holdings Inc (NASDAQ:LIME) were down 27% to $18.70 after the company reported mixed quarterly financial results.
• Nurix Therapeutics, Inc. (NASDAQ:NRIX) was down, falling 42% to $15.05 after Sanofi notified the company of its decision to discontinue the Phase 1 first-in-human clinical trial of SAR448272.

Commodities 

In commodity news, oil traded down 5.1% to $91.18 while gold traded up 2.9% at $4,055.90.

Silver traded up 4.5% to $51.97 on Wednesday, while copper fell 0.2% to $6.3880.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 1.8%, while Spain’s IBEX 35 Index jumped 3.2%, London’s FTSE 100 rose 1.7%, Germany’s DAX surged 2.3%, while France’s CAC 40 climbed 2.2%.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan’s Nikkei 225 falling 1.42%, Hong Kong’s Hang Seng index gaining 1.67%, China’s SSE Composite Index jumping 2.16% and India’s BSE Sensex gaining 0.50%.

Economics

• The U.S. trade deficit fell to $105 billion in September from $105.7 billion in the previous month, and versus market estimates of a $108 billion gap.
• Exports rose 1.9% to a five-month high of $321.5 billion, while imports increased 1.2% to a record high of $426.6 billion in September.
• Private businesses in the U.S. rose by 86,000 jobs in October, topping market estimates of 69,000.
• U.S. mortgage applications declined 1.2% in the week ended Oct. 30, following a 3.4% gain in the previous period.
• U.S. crude oil inventories declined by 0.865 million barrels in the week ended Oct. 30, compared to a 1.892 million-barrel draw in the prior week.

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