U.S. stocks traded lower midway through trading, with the Dow Jones index more than 300 points on Thursday.
The Dow traded down 0.78% to 41,810.80 while the NASDAQ fell 2.46% to 18,149.38. The S&P 500 also fell, dropping, 1.56% to 5,723.19.
Leading and Lagging Sectors
Energy shares rose by 1.1% on Thursday.
In trading on Thursday, information technology shares fell by 3%.
Top Headline
Shares of Meta Platforms Inc (NASDAQ:META) fell more than 2% on Thursday after the company reported third-quarter financial results.
The company reported third-quarter revenue of $40.59 billion, beating analyst estimates of $40.29 billion.
Equities Trading UP
- Root, Inc. (NASDAQ:ROOT) shares shot up 180% to $113.43 after the company reported better-than-expected third-quarter financial results.
- Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) got a boost, surging 39% to $7.79 after the company reported better-than-expected third-quarter revenue results and raised its FY24 revenue guidance.
- Alphatec Holdings, Inc. (NASDAQ:ATEC) shares were also up, gaining 39% to $7.78 after the company reported better-than-expected third-quarter revenue results and raised its FY24 revenue guidance.
Equities Trading DOWN
- Matinas BioPharma Holdings, Inc. (NYSE:MTNB) shares dropped 69% to $0.6100 after the company announced the termination of negotiations under the previously disclosed non-binding term sheet regarding global rights to MAT2203. Matinas has implemented an 80% reduction in its workforce.
- Shares of Aurora Innovation, Inc. (NASDAQ:AUR) were down 24% to $5.0200 after reporting a wider-than-expected quarterly loss.
- COMPASS Pathways plc (NASDAQ:CMPS) was down, falling 25% to $4.6650 after the company announced it pushed its topline data readout from its COMP005 Phase 3 trial to Q2 2025 and its COMP006 data will be announced after the 26-week time point.
Commodities
In commodity news, oil traded up 1.2% to $69.40 while gold traded down 1.4% at $2,763.10.
Silver traded down 3.2% to $32.970 on Thursday, while copper rose 0.2% to $4.3585.
Euro zone
European shares were lower today. The eurozone's STOXX 600 dipped 1.29%, Germany's DAX fell 0.95% and France's CAC 40 slipped 1.15%. Spain's IBEX 35 Index fell 0.53%, while London's FTSE 100 fell 0.91%.
Asia Pacific Markets
Asian markets closed mostly lower on Thursday, with Japan's Nikkei 225 falling 0.50%, Hong Kong's Hang Seng Index falling 0.31%, China's Shanghai Composite Index gaining 0.42% and India's BSE Sensex falling 0.69%.
Economics
- U.S. initial jobless claims declined by 12,000 from the previous week to 216,000 in the week ending Oct. 26.
- U.S. personal income increased by 0.3% from the prior month to $24.948 trillion in September, while personal spending increased by 0.5% to an annualized rate of $20.024 trillion.
- The personal consumption expenditure price index rose 0.2% month-over-month in September following a 0.1% increase in August.
Now Read This:
- Jim Cramer: This Financial Stock Is 'One Of The Most Consistent, Great Companies'
