U.S. stocks traded mixed this morning, with the Nasdaq Composite falling over 300 points on Thursday.
Following the market opening Thursday, the Dow traded up 0.45% to 51,852.58 while the NASDAQ fell 1.25% to 26,358.56. The S&P 500 also fell, dropping, 0.47% to 7,682.50.
Leading and Lagging Sectors
Consumer staples shares jumped by 2.4% on Thursday.
In trading on Thursday, information technology stocks fell by 1.8%.
Top Headline
U.S. producer prices jumped 1.3% month over month in September, more than double the 0.5% pace economists expected, according to Bureau of Labor Statistics data released Thursday.
On an annual basis, headline producer inflation came in at 6.3%, sharply above the consensus estimate of 5.3% and accelerating from August’s upwardly revised 5.6%. The outcome marks the highest annual producer inflation rate since December 2022.
Equities Trading UP
- Bradbury Capital Inc. (NASDAQ:BBCI) shares shot up 61% to $4.24.
- Shares of Stardust Power Inc. (NASDAQ:SDST) got a boost, surging 64% to $0.0426.
- Wetour Robotics Limited (NASDAQ:WETO) shares were also up, gaining 60% to $1.33 after the company announced it has voluntarily paused further sales of its ordinary shares under its existing at-the-market equity offering program.
Equities Trading DOWN
- SHF Holdings, Inc. (NASDAQ:SHFS) shares dipped 34% to $0.1531.
- Shares of FMC Corporation (NYSE:FMC) were down 34% to $5.33 after the company lowered its third-quarter revenue guidance and said commercial actions will result in $625 million to $675 million in charges.
- Treasure Global Inc. (NASDAQ:TGL) was down, falling 33% to $0.2950 after the company announced a $1.2 million private placement to board members.
Commodities
In commodity news, oil traded up 0.8% to $95.88 while gold traded up 1.6% at $4,172.40.
Silver traded up 1.7% to $56.815 on Thursday, while copper fell 1.7% to $6.5465.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.1%, while Spain’s IBEX 35 Index gained 0.3%, London’s FTSE 100 rose 1%, Germany’s DAX slipped 0.1%, while France’s CAC 40 gained 0.6%.
Asia Pacific Markets
Asian markets closed mostly lower on Thursday, with Japan’s Nikkei 225 dipping 4.90%, Hong Kong’s Hang Seng Index declining 1.03%, China’s SSE Composite Index tumbling 1.59% and India’s BSE Sensex gaining 2.11%.
Economics
- U.S. producer prices jumped 1.3% month over month in September, more than double the 0.5% pace economists expected, according to Bureau of Labor Statistics data released Thursday.
- U.S. retail sales climbed 0.8% month-over-month in September, compared to a revised 1.3% gain in August and topping market estimates of a 0.3% gain.
- The NY Empire State Manufacturing Index rose to 25.5 in October from 7.6 in the previous month, and topping market estimates of 10.3.
- The Philadelphia Fed Manufacturing Index declined to 20.9 in October from 37.8 in the previous month, down from market estimates of 28.4.
- U.S. initial jobless claims climbed by 1,000 to 199,000 in the week ending Oct. 10, compared to market expectations of 200,000.
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