Crude Oil Gains 1%; Cintas Earnings Top Views

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 1% on Wednesday. The Dow traded down 0.52% to 51,588.15 while the NASDAQ dipped 1.10% to 26,943.90. The S&P 500 also fell, dropping, 0.66% to 7,713.83.

Leading and Lagging Sectors Energy shares jumped by 0.9% on Wednesday. In trading on Wednesday, utilities stocks fell by 1%. Top Headline Cintas Corp (NASDAQ: CTAS ) reported upbeat earnings for the first quarter and raised its FY2027 guidance on Wednesday. The company posted quarterly earnings of $1.39 per share which beat the analyst consensus estimate of $1.35 per share.

The company reported quarterly sales of $3.014 billion which beat the analyst consensus estimate of $2.984 billion. Equities Trading UP Beneficient ( NASDAQ: BENF ) shares shot up 209% to $1.66 after the company announced a strategy to eliminate HCLP debt and Heppner Equity Interests. Shares of Lakefront Biotherapeutics NV — ADR (NASDAQ: LKFT ) got a boost, surging 7% to $32.39.

RBC Capital analyst Brian Abrahams upgraded Lakefront Biotherapeutics from Sector Perform to Outperform and raised the price target from $26 to $45 TriSalus Life Sciences Inc ( NASDAQ: TLSI ) shares were also up, gaining 5% to $5.16 after the company announced it received FDA 510(k) clearance for TriNav Advance. Equities Trading DOWN Alkami Technology Inc ( NASDAQ: ALKT ) shares dropped 19% to $14.58 after the company announced conclusion of strategic opportunities review Shares of Adagio Medical Holdings Inc ( NASDAQ: ADGM ) were down 42% to $0.28.

Adagio Medical’s board completed a strategic review and has initiated a formal process to explore alternatives to maximize shareholder value. IM Cannabis Corp (NASDAQ: IMCC ) was down, falling 29% to $2.95. IM Cannabis announced a $1.31 million registered direct offering of 655,000 common shares at a price of $2/share. The company also announced it will acquire a 51% stake in Space Defense Innovations.

Commodities In commodity news, oil traded up 1.4% to $91.66 while gold traded down 1.3% at $4,321.30. Silver traded down 2.2% to $65.070 on Wednesday, while copper fell 1.1% to $6.7600. Euro zone European shares were mostly lower today. The eurozone’s STOXX 600 slipped 0.4%, while Spain’s IBEX 35 Index fell 0.3%, London’s FTSE 100 rose 0.1%, Germany’s DAX dipped 0.5%, while France’s CAC 40 declined 0.4%.

Asia Pacific Markets Asian markets closed mixed on Wednesday, with Hong Kong’s Hang Seng index dipping 1.01%, China’s Shanghai Composite falling 0.39% and India’s BSE Sensex gaining 0.40%. Economics The volume of mortgage applications declined by 1.5% in the third week of September, compared to a 4.1% drop in the previous period. U.S. crude inventories gained by 2.969 million barrels to 426.4 million barrels in the week ended Sept.

18, compared to market estimates of a 0.6 million-barrel draw Photo via Shutterstock