Midday Report: Crude Falls Below $50 on Inventories Increase; U.S. Stocks Drop

U.S. stocks bottomed out at session lows as weak trade data reignited worries over growth in China's economy. Exports in September fell at a pace three times what analysts had forecast. Crude oil prices slumped after a weekly read on U.S. inventories showed the first increase in six weeks. Analysts expected an increase a fraction of the size. Mounting domestic supply has been just one of the concerns keeping commodity traders at bay. Railroad operator CSX (CSX) - Get Report was active after weathering a quarter in which a sharp slump in coal shipment volumes weighed on revenue. The freight company anticipates a 25% drop in coal volume this year. Ulta Salon (ULTA) - Get Report climbed after upping its earnings and sales forecast for its October-ending quarter. The cosmetics retailer now anticipates full-year earnings growth in the mid-20s percentage range.