Crude Oil Gains 2%; CoreWeave Posts Upbeat Q3 Results

U.S. stocks traded higher midway through trading, with the S&P 500 gaining over 1% on Wednesday.

The Dow traded up 0.19% to 52,331.54 while the NASDAQ rose 1.97% to 25,559.66. The S&P 500 also rose, gaining, 1.35% to 7,622.65.

Leading and Lagging Sectors

Information technology shares jumped by 3.3% on Wednesday.

In trading on Wednesday, health care stocks fell 1%.

Top Headline

CoreWeave Inc (NASDAQ:CRWV) reported upbeat financial results for the third quarter.

CoreWeave reported third-quarter revenue of $3.66 billion, beating analyst estimates of $3.55 billion, according to Benzinga Pro. The company reported a third-quarter adjusted loss of 95 cents per share, beating estimates for a loss of $1.16 per share.

Equities Trading UP
           

• Gevo Inc (NASDAQ:GEVO) shares shot up 31% to $1.82 after the company reported better-than-expected third-quarter financial results.
• Shares of Fossil Group Inc (NASDAQ:FOSL) got a boost, surging 27% to $10.00 after the company reported better-than-expected quarterly financial results and raised its FY26 sales guidance above estimates.
• Riskified Ltd (NYSE:RSKD) shares were also up, gaining 25% to $10.64 after the company reported better-than-expected third-quarter financial results and raised its FY26 sales guidance above estimates.

Equities Trading DOWN

• Brightview Holdings Inc (NYSE:BV) shares dipped 15% to $9.69 after the company reported worse-than-expected fourth-quarter financial results and issued FY27 sales guidance below estimates.
• Shares of Boyd Group Services Inc (NYSE:BGSI) were down 13% to $77.16 after the company posted downbeat results for the third quarter.
• Applied Aerospace & Defense Inc (NYSE:AADX) was down, falling 9% to $9.76 following third-quarter results.

Commodities 

In commodity news, oil traded up 2.1% to $87.82 while gold traded down 0.4% at $4,013.40.

Silver traded up 2.2% to $52.335 on Wednesday, while copper rose 0.8% to $6.2825.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.4%, while Spain’s IBEX 35 Index slipped 0.1%, London’s FTSE 100 rose 0.4%, Germany’s DAX climbed 0.9%, while France’s CAC 40 surged 0.4%.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan’s Nikkei 225 gaining 1.31%, Hong Kong’s Hang Seng index falling 0.98%, China’s SSE Composite Index rising 0.46% and India’s BSE Sensex gaining 0.95%.

Economics

The volume of mortgage applications climbed by 6.2% on the week ending Nov. 6.

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