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Markets Mixed as Energy Slumps and Lowe's Surges on Earnings Beat

MarketDash Editorial Team
18 days ago
U.S. stocks traded in different directions Wednesday with the Dow slipping while tech gained ground. Crude oil dropped over 2% as energy stocks lagged, while Lowe's jumped more than 5% after beating profit expectations despite mixed guidance and a sales miss.

Wednesday's trading session painted an interesting picture of a market that couldn't quite make up its mind. The Dow Jones slipped 0.23% to 45,985.50, while the NASDAQ climbed 0.19% to 22,475.54. The S&P 500 split the difference, edging up 0.08% to 6,622.69.

Sector Performance: Communication Services Lead, Energy Lags

Communication services stocks were the day's winners, rising 0.8%. On the flip side, energy stocks took a beating, falling 1.6% as crude oil prices tumbled.

Lowe's Beats Expectations Despite Revenue Miss

Lowe's Companies, Inc. (LOW) shares jumped more than 5% after the home improvement retailer delivered a solid earnings beat while navigating a complex guidance picture. The company reported third-quarter adjusted earnings per share of $3.06, up 5.9% year over year and comfortably above the analyst consensus of $2.97.

The catch? Revenue came in slightly below expectations. But investors seem willing to look past that detail as the company doubles down on its strategy targeting professional customers and expanding its online presence. Lowe's also tightened its earnings outlook, maintained a flat view on comparable sales, and raised its full-year revenue target—a mixed bag that the market interpreted positively overall.

Big Movers on the Upside

WeShop Holdings Limited (WSHP) had an absolutely wild day, rocketing 413% to $169.32 amid extreme volatility following its recent Nasdaq debut. These kinds of moves aren't unusual for newly listed stocks with limited liquidity.

Freight Technologies, Inc. (FRGT) surged 67% to $1.1045 after announcing the commercial launch of Zayren, its AI-powered freight rate prediction and carrier matching platform. The market clearly likes the company's move into AI-driven logistics solutions.

Semrush Holdings, Inc. (SEMR) soared 74% to $11.79 after Adobe announced plans to acquire the digital marketing platform. That's the kind of premium you see when a major player decides your technology is worth owning.

Notable Decliners

Agios Pharmaceuticals, Inc. (AGIO) crashed 50% to $22.88 after reporting Phase 3 RISE UP trial results. While mitapivat met the primary hemoglobin response endpoint, it failed to achieve statistical significance on sickle cell pain crises—a critical secondary measure that investors were watching closely.

Carver Bancorp, Inc. (CARV) dropped 51% to $1.4702 following its announcement that it will de-register its common stock with the SEC and delist from the Nasdaq to move to the OTCQX market. Delisting from a major exchange is rarely a bullish signal.

Tempest Therapeutics, Inc. (TPST) fell 47% to $4.94 after announcing an all-stock deal to acquire Factor Bioscience's Dual-CAR T programs. The market appears skeptical about the value creation potential of this transaction.

Commodities Update

Oil took a significant hit, falling 2.4% to $59.26, which helps explain why energy stocks were the day's worst performers. Meanwhile, precious metals showed some strength with gold up 0.3% at $4,077.20 and silver gaining 0.2% to $50.615. Copper also edged higher, rising 0.4% to $4.9945.

Global Markets Overview

European markets closed mostly lower. The eurozone's STOXX 600 dipped 0.03%, while Spain's IBEX 35 bucked the trend with a 0.39% gain. London's FTSE 100 fell 0.47%, Germany's DAX 40 declined 0.08%, and France's CAC 40 slipped 0.18%.

Asian markets wrapped Wednesday with mixed results. Japan's Nikkei 225 fell 0.34% and Hong Kong's Hang Seng declined 0.38%, while China's Shanghai Composite gained 0.18% and India's BSE Sensex rose 0.61%.

Economic Data Highlights

U.S. crude oil inventories declined by 3.426 million barrels in the week ending November 14, significantly exceeding market estimates of a 0.6 million barrel drop. That's a substantial drawdown that suggests either stronger demand or supply constraints.

On the trade front, U.S. exports of goods and services increased $0.2 billion to $280.8 billion in August, while imports declined 5.1% to $340.4 billion. The result? The U.S. trade deficit shrank to $59.6 billion in August from $78.2 billion the previous month, coming in better than the market expectation of a $61 billion gap.

Back to News

Markets Mixed as Energy Slumps and Lowe's Surges on Earnings Beat

MarketDash Editorial Team
18 days ago
U.S. stocks traded in different directions Wednesday with the Dow slipping while tech gained ground. Crude oil dropped over 2% as energy stocks lagged, while Lowe's jumped more than 5% after beating profit expectations despite mixed guidance and a sales miss.

Wednesday's trading session painted an interesting picture of a market that couldn't quite make up its mind. The Dow Jones slipped 0.23% to 45,985.50, while the NASDAQ climbed 0.19% to 22,475.54. The S&P 500 split the difference, edging up 0.08% to 6,622.69.

Sector Performance: Communication Services Lead, Energy Lags

Communication services stocks were the day's winners, rising 0.8%. On the flip side, energy stocks took a beating, falling 1.6% as crude oil prices tumbled.

Lowe's Beats Expectations Despite Revenue Miss

Lowe's Companies, Inc. (LOW) shares jumped more than 5% after the home improvement retailer delivered a solid earnings beat while navigating a complex guidance picture. The company reported third-quarter adjusted earnings per share of $3.06, up 5.9% year over year and comfortably above the analyst consensus of $2.97.

The catch? Revenue came in slightly below expectations. But investors seem willing to look past that detail as the company doubles down on its strategy targeting professional customers and expanding its online presence. Lowe's also tightened its earnings outlook, maintained a flat view on comparable sales, and raised its full-year revenue target—a mixed bag that the market interpreted positively overall.

Big Movers on the Upside

WeShop Holdings Limited (WSHP) had an absolutely wild day, rocketing 413% to $169.32 amid extreme volatility following its recent Nasdaq debut. These kinds of moves aren't unusual for newly listed stocks with limited liquidity.

Freight Technologies, Inc. (FRGT) surged 67% to $1.1045 after announcing the commercial launch of Zayren, its AI-powered freight rate prediction and carrier matching platform. The market clearly likes the company's move into AI-driven logistics solutions.

Semrush Holdings, Inc. (SEMR) soared 74% to $11.79 after Adobe announced plans to acquire the digital marketing platform. That's the kind of premium you see when a major player decides your technology is worth owning.

Notable Decliners

Agios Pharmaceuticals, Inc. (AGIO) crashed 50% to $22.88 after reporting Phase 3 RISE UP trial results. While mitapivat met the primary hemoglobin response endpoint, it failed to achieve statistical significance on sickle cell pain crises—a critical secondary measure that investors were watching closely.

Carver Bancorp, Inc. (CARV) dropped 51% to $1.4702 following its announcement that it will de-register its common stock with the SEC and delist from the Nasdaq to move to the OTCQX market. Delisting from a major exchange is rarely a bullish signal.

Tempest Therapeutics, Inc. (TPST) fell 47% to $4.94 after announcing an all-stock deal to acquire Factor Bioscience's Dual-CAR T programs. The market appears skeptical about the value creation potential of this transaction.

Commodities Update

Oil took a significant hit, falling 2.4% to $59.26, which helps explain why energy stocks were the day's worst performers. Meanwhile, precious metals showed some strength with gold up 0.3% at $4,077.20 and silver gaining 0.2% to $50.615. Copper also edged higher, rising 0.4% to $4.9945.

Global Markets Overview

European markets closed mostly lower. The eurozone's STOXX 600 dipped 0.03%, while Spain's IBEX 35 bucked the trend with a 0.39% gain. London's FTSE 100 fell 0.47%, Germany's DAX 40 declined 0.08%, and France's CAC 40 slipped 0.18%.

Asian markets wrapped Wednesday with mixed results. Japan's Nikkei 225 fell 0.34% and Hong Kong's Hang Seng declined 0.38%, while China's Shanghai Composite gained 0.18% and India's BSE Sensex rose 0.61%.

Economic Data Highlights

U.S. crude oil inventories declined by 3.426 million barrels in the week ending November 14, significantly exceeding market estimates of a 0.6 million barrel drop. That's a substantial drawdown that suggests either stronger demand or supply constraints.

On the trade front, U.S. exports of goods and services increased $0.2 billion to $280.8 billion in August, while imports declined 5.1% to $340.4 billion. The result? The U.S. trade deficit shrank to $59.6 billion in August from $78.2 billion the previous month, coming in better than the market expectation of a $61 billion gap.