U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling by more than 100 points on Wednesday.

The Dow traded down 0.18% to 43,188.94 while the NASDAQ fell 0.71% to 18,853.10. The S&P 500 also fell, dropping, 0.64% to 5,879.40.

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Leading and Lagging Sectors

Energy shares rose by 0.4% on Wednesday.

In trading on Wednesday, consumer discretionary shares fell by 0.9%.

Top Headline

TJX Companies, Inc. TJX reported better-than-expected earnings for its third quarter on Wednesday

The company reported third-quarter earnings per share of $1.14 (+11%), beating the street view of $1.09. Quarterly sales of $14.06 billion (+6%) beat the analyst consensus estimate of $13.95 billion. TJX Companies reported a 3% increase in consolidated comparable store sales at the high end of the company’s plan, driven entirely by higher customer transactions.

TJX Companies expects fourth-quarter GAAP EPS to be between $1.12 and $1.14, below the consensus estimate of $1.17. For the fourth quarter, the company continues to expect consolidated comparable store sales to be up 2% to 3%.

For FY25, the company revised its GAAP EPS forecast to $4.15 – $4.17, slightly above the prior guidance of $4.09 – $4.13 and in line with the consensus of $4.16.

Equities Trading UP
                       

• Quantum-Si incorporated QSI shares shot up 120% to $1.3950 after the company announced a distribution agreement with Avantor for next-generation protein sequencing portfolios for researchers.
• Shares of Williams-Sonoma, Inc. WSM got a boost, surging 26% to $173.19 after the company reported better-than-expected third-quarter financial results.
• Forte Biosciences, Inc. FBRX shares were also up, gaining 161% to $14.52 after the company secured $53 million in oversubscribed private placement to advance FB102 clinical programs across autoimmune indications, with key data readouts expected in 2025.

Equities Trading DOWN

• X3 Holdings Co., Ltd. XTKG shares dropped 33% to $0.0965. The company announced a 1-for-20 reverse stock split.
• Shares of PainReform Ltd. PRFX were down 25% to $1.0500 after the company announced initial topline data for PRF-110 Phase 3 clinical trial.
• Volato Group, Inc. SOAR was down, falling 23% to $0.3601. Volato reported $40.3 million in revenue and confirmed NYSE acceptance of compliance plan in third quarter 10-Q.

Commodities

In commodity news, oil traded up 0.2% to $69.50 while gold traded up 0.8% at $2,652.10.

Silver traded down 0.1% to $31.245 on Wednesday, while copper rose 0.4% to $4.1590.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.12%, Germany’s DAX declined 0.35% and France’s CAC 40 fell 0.40%. Spain’s IBEX 35 Index fell 0.27%, while London’s FTSE 100 fell 0.27%.

Construction output in the Eurozone fell by 1.6% year-over-year in September compared to a 2.5% decline in the previous month. Producer prices in Germany fell by 1.1% year-over-year in October.

UK’s producer prices declined by 0.8% year-over-year in October versus a revised 0.6% fall in September. Annual inflation rate in the UK rose to 2.3% in October from 1.7% in September.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan’s Nikkei 225 falling 0.16%, Hong Kong’s Hang Seng Index gaining 0.21% and China’s Shanghai Composite Index gaining 0.66%.

Japan’s trade deficit shrank to JPY 461.25 billion in October compared to JPY 702.86 in the year-ago month.

Economics

Mortgage applications in the U.S. rose 1.7% from the previous week in the week ending Nov. 15, compared to a 0.5% gain in the prior period.

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