U.S. stocks traded lower midway through trading, with the Dow Jones index falling around 350 points on Thursday.
The Dow traded down 0.70% to 51,153.35 while the NASDAQ dipped 0.70% to 26,746.39. The S&P 500 also fell, dropping, 0.46% to 7,670.50.
Leading and Lagging Sectors
Energy shares jumped by 1.7% on Thursday.
In trading on Thursday, materials stocks fell by 1.1%.
Top Headline
Darden Restaurants Inc (NYSE:DRI) reported worse-than-expected first-quarter financial results.
Darden reported quarterly earnings of $2.05 per share which missed the analyst consensus estimate of $2.06 per share. The company reported quarterly sales of $3.200 billion which missed the analyst consensus estimate of $3.206 billion.
Equities Trading UP
- Apimeds Pharmaceuticals US Inc (NYSE:APUS) shares shot up 163% to $6.02 after the company announced its subsidiary, MindWave, signed a 12-month technology services agreement with AQUAE Holdings to deploy its MindChain infrastructure as the foundation of AQUAEChain.
- Shares of Surrozen Inc (NASDAQ:SRZN) got a boost, surging 90% to $30.63. Surrozen recently announced submission of IND application for SZN-8141 for the treatment of diabetic macular edema.
- Everpure Inc (NYSE:P) shares were also up, gaining 18% to $129.84 after the data storage company outlined a broader growth strategy and issued a preliminary fiscal 2028 outlook at its 2026 Financial Analyst Meeting.
Equities Trading DOWN
- Stitch Fix Inc (NASDAQ:SFIX) shares dropped 22% to $2.20 after the company reported mixed fourth-quarter financial results and issued weak fiscal 2027 sales guidance.
- Shares of ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) were down 10% to $22.82 after the company disclosed Phase 3 enabling topline results from Phase 2 RADIANT study of remlifanserin for the treatment of Alzheimer’s disease psychosis.
- Viking Therapeutics Inc (NASDAQ:VKTX) was down, falling 14% to $35.99 after the company announced a pair of proposed public offerings.
Commodities
In commodity news, oil traded up 4.4% to $96.25 while gold traded down 0.4% at $4,300.70.
Silver traded down 1.8% to $63.785 on Thursday, while copper rose 0.1% to $6.7540.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 slipped 0.1%, while Spain’s IBEX 35 Index rose 0.3%, London’s FTSE 100 rose 0.3%, Germany’s DAX fell 0.1%, while France’s CAC 40 declined 0.1%.
Asia Pacific Markets
Asian markets closed mostly lower on Thursday, with Japan’s Nikkei 225 gaining 0.76%, Hong Kong’s Hang Seng index dipping 0.29%, China’s Shanghai Composite falling 1.22% and India’s BSE Sensex dropping 1.67%.
Economics
- The U.S. current account deficit increased to $246 billion in the second quarter, from a revised $212.6 billion gap in the previous quarter, versus market estimates of a $255 billion gap.
- U.S. initial jobless claims fell by 1,000 to 197,000 in the second week of September, compared to market estimates of 201,000.
- U.S. building permits fell 2.1% month-over-month to 1.403 million units in August, versus initial estimates of a 2.7% decline.
Photo via Shutterstock