Crude Oil Dips Over 15%; Odyssey Marine Exploration Shares Jump

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 600 points on Wednesday.

The Dow traded up 2.59% to 47,788.74 while the NASDAQ surged 2.87% to 22,650.38. The S&P 500 also rose, gaining, 2.42% to 6,777.12.

Leading and Lagging Sectors

Industrials shares climbed by 3.7% on Wednesday.

In trading on Wednesday, energy stocks fell by 5%.

Top Headline

U.S. crude inventories gained by 3.1 million barrels to 464.7 million barrels in the week ended April 3, versus market estimates of a 701,000-barrel gain.

Equities Trading UP
           

• Odyssey Marine Exploration Inc (NASDAQ:OMEX) shares shot up 90% to $1.58. Odyssey Marine Exploration and American Ocean Minerals signed a $1 billion merger agreement.
• Shares of Aehr Test Systems (NASDAQ:AEHR) got a boost, surging 27% to $63.84 following third-quarter results.
• U Power Ltd (NASDAQ:UCAR) shares were also up, gaining 147% to $1.36 after entering subscription agreements with seven purchasers to sell 2.9 million Class A shares.

Equities Trading DOWN

• Captivision Inc (NASDAQ:CAPT) shares dropped 86% to $0.054 after the company received delisting notice from the Nasdaq after failing to meet filing deadline.
• Shares of WM Technology Inc (NASDAQ:MAPS) were down 43% to $0.40 after the company announced plans to voluntarily delist its shares from Nasdaq.
• Better Home & Finance Holding Co (NASDAQ:BETR) was down, falling 24% to $33.96 as the company announced pricing of public offering of Class A common stock.

Commodities

In commodity news, oil traded down 15.2% to $95.76 while gold traded up 2.7% at $4,809.20.

Silver traded up 6.3% to $76.49 on Wednesday, while copper rose 3.8% to $5.7760.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 4.2%, while Spain's IBEX 35 Index rose 4.3%. London's FTSE 100 jumped 3%, Germany's DAX climbed 5% and France's CAC 40 surged 4.9% during the session.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 5.39%, China's Shanghai Composite gaining 2.69%, Hong Kong's Hang Seng Index jumping 3.09% and India's BSE Sensex gaining 3.95%.

Economics

• U.S. mortgage applications fell by 0.8% from the previous week during the week ending April 3, compared to the cumulative 28.5% fall from the three prior weeks.
• U.S. crude inventories gained by 3.1 million barrels to 464.7 million barrels in the week ended April 3, versus market estimates of a 701,000-barrel gain.

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