The major indices started off the day strong, traded well into the afternoon, then sold off steeply into the close, shaving off most of the day's gains before the final bell before the Thanksgiving day holiday.
The Dow Jones Industrial Average
Shares of Foot Locker Inc. (FL) jumped 14.9% after the shoe retailer reported earnings of 95 cents per share, which was 3 cents better than analysts were expecting for the quarter. Foot Locker saw an increase in revenue thanks to strong shoe sales and women's apparel.
Shares of Facebook Inc. (FB) are climbing after CEO Mark Zuckerberg told CNN that he has no plans to step down from his role as chairman in spite of increasing pressure to do so amid numerous narrative missteps that has caused the company to receive bad press in recent months. Facebook's shares jumped 1.8%.
Shares of Lowe's Companies Inc. (LOW) are climbing despite being downgraded to "hold" from "buy" at Stifel Nicolaus which has concerns about the macroeconomic environment as well as execution issues. The stock dropped nearly 6% in the previous session following disappointing earnings results. Lowe's shares were rising 2.62%.
Shares of Deere & Co. (DE) are rising after the company reported adjusted earnings of $2.30 per share, an increase of 46% from the same period a year ago. Analysts were expecting the company to report earnings of $2.45 per share. Group sales rose 17% to $9.416 billion, topping analyst expectations. Deere gained 2.44%.
Walgreens Boots Alliance Inc. (WBA) and insurer Humana Inc. (HUM) are in early negotiations to take equity stakes in each other, the Wall Street Journal reported. The companies are having discussions about expanding their partnership serving older people.
Walgreens shares fell 0.04% while Humana shares fell 0.72%.
Oil's Wednesday rebound was also linked to the weaker greenback, but was also down to investors snapping up cheap crude contracts after yesterday's wipeout and data from the American Petroleum Institute that showed domestic stockpiles fell by 1.5 million barrels last week.
Brent crude contracts for January delivery, the global benchmark, were seen $1.02 higher from their Tuesday close in New York and changing hands at $63.55 per barrel while WTI contracts for December, which are more tightly liked to U.S gas prices, were marked $1.10 higher at $54.53 per barrel.