U.S. stocks turned lower toward the end of trading, with the Dow Jones dropping more than 100 points on Thursday.
The Dow traded down 0.42% to 30,295.69 while the NASDAQ fell 0.91% to 10,583.77. The S&P 500 also fell, dropping, 0.96% to 3,659.84.
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Leading and Lagging Sectors
Communication services shares climbed 0.2% on Thursday. Leading the sector was strength from FingerMotion, Inc. (NASDAQ:FNGR) and Skillz Inc. (NYSE:SKLZ).
In trading on Thursday, utilities shares dipped 2.8%.
Top Headline
AT&T Inc (NYSE:T) company reported better-than-expected Q3 EPS and sales results.
AT&T reported third-quarter FY22 operating revenues of $30.00 billion, down 4.1% year-over-year, beating the consensus of $29.86 billion. Adjusted EPS of $0.68 beat the consensus of $0.61.
Equities Trading UP
- NextPlay Technologies, Inc. (NASDAQ:NXTP) shares shot up 130% to $0.4599 after the company announced its NextFintech division received commitment for a $15 million strategic investment.
- Shares of NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) got a boost, shooting 22% to $4.50. NGM Biopharmaceuticals Director David Goeddel V bought a total of 130,000 shares at an average price of $3.56.
- Cabaletta Bio, Inc. (NASDAQ:CABA) shares were also up, gaining 32% to $1.7211. Cabaletta Bio President and CEO Steven Nichtberger acquired a total of 8,127 shares at an average price of $1.25.
Equities Trading DOWN
- Talaris Therapeutics, Inc. (NASDAQ:TALS) shares tumbled 45% to $1.3301 after the company announced it received a report of a patient death, which triggered a pre-specified, temporary stopping requirement and review by the FREEDOM-1 Data Monitoring Committee.
- Shares of Rumble Inc. (NASDAQ:RUM) were down 19% to $6.65 after The Bear Cave issued a cautious report on the stock.
- First Internet Bancorp (NASDAQ:INBK) was down, falling 19% to $24.99 following downbeat quarterly earnings.
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Commodities
In commodity news, oil traded up 0.9% to $86.33, while gold traded down 0.1% at $1,633.40.
Silver traded up 1.3% to $18.605 on Thursday while copper rose 2.5% to $3.3995.
Euro zone
European shares closed higher today. The eurozone’s STOXX 600 rose 0.26%, London’s FTSE 100 rose 0.27% while Spain’s IBEX 35 Index rose 0.8%. The German DAX gained 0.20%, French CAC 40 rose 0.76% and Italy’s FTSE MIB Index gained 1.07%.
The Eurozone recorded a current account deficit of EUR 20.21 billion in August versus a year-ago surplus of EUR 21.05 billion. Producer prices in Germany rose by 2.3% from a month ago in September, versus a 7.9% increase in the prior month, while annual producer inflation in the country stood at 45.8% in September.
The manufacturing climate indicator in France climbed to 103 in October from a 1-1/2-year low level of 102 in the previous month. Construction output in Italy surged 9.7% year-over-year in August versus a revised 7% increase in the prior month.
Economics
- US initial jobless claims declined by 12,000 to 214,000 in the week ending October 15th, compared to market estimates of 230,000.
- The Philadelphia Fed Manufacturing Index rose 1 point to a reading of negative at -8.7 in October.
- Existing home sales in the US declined 1.5% to an annual rate of 4.71 million in September.
- The index of leading economic indicators declined 0.4% for September.
- US natural-gas stocks increased 111 billion cubic feet during the week ended October 14th, versus market expectations of a 105 bcf gain, the Energy Information Administration said.
Check out this: Investor Fear Eases Slightly Ahead Of Earnings Results
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 98,987,010 cases with around 1,092,030 deaths. India confirmed a total of at least 44,636,510 cases and 528,940 deaths, while France reported over 36,418,720 COVID-19 cases with 156,180 deaths. In total, there were at least 631,630,250 cases of COVID-19 worldwide with more than 6,577,340 deaths.
