US stocks ended Thursday’s trading session with a downward trend, with the S&P 500 closing down approximately 0.3%. The Dow Jones Industrial Average also slipped, falling 0.36% to 42,360.40, while the NASDAQ Composite experienced a 0.20% dip to 18,255.32. The S&P 500 also closed lower, dropping 0.33% to 5,772.71.
The energy sector stood out as a bright spot, surging by 1.1% on Thursday. In contrast, real estate shares underperformed, falling by 0.9%.
Domino’s Pizza Inc (DPZ) reported mixed third-quarter results on Thursday. The company recorded sales growth of 5.1% year-over-year, reaching $1.08 billion, but this fell short of analysts’ consensus estimate of $1.10 billion. However, its earnings per share (EPS) came in at $4.19, exceeding the consensus estimate of $3.68.
Equities Trading Up
Several stocks experienced significant gains on Thursday:
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BloomZ Inc. (BLMZ)
shares skyrocketed 65% to $1.1801 after the company announced it had been selected as the primary animation contractor for an upcoming project.*
LSB Industries, Inc. (LXU)
shares surged 15% to $9.57 after UBS analyst Joshua Spector upgraded the company from Neutral to Buy and raised the price target from $9.5 to $11.*
Symbotic Inc. (SYM)
shares also climbed, gaining 16% to $27.05. Symbotic announced an agreement to implement multiple industry-leading warehouse automation systems for Walmex and strategic international expansion in Mexico.
Equities Trading Down
Several stocks experienced significant declines on Thursday:
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Gritstone bio, Inc. (GRTS)
shares plummeted 61% to $0.0780 after the company announced it had voluntarily filed for Chapter 11 restructuring.*
Indivior PLC (INDV)
shares were down 19% to $583.00 after the company reported preliminary third-quarter revenue guidance and cut its FY24 net revenue guidance below estimates.*
10x Genomics, Inc. (TXG)
shares fell 24% to $15.76 after the company guided third-quarter preliminary revenue of $151.7 million, down 1% year-over-year.
Commodities
In the commodity market, oil prices climbed 4% to $76.13, while gold prices rose 0.6% to $2,641.00. Silver also saw a 2% increase, trading at $31.275 on Thursday. Copper prices gained 1%, reaching $4.4445.
European Markets
European markets closed lower on Thursday. The eurozone’s STOXX 600 slipped 0.18%, Germany’s DAX declined 0.23%, and France’s CAC 40 fell 0.24%. Spain’s IBEX 35 Index dropped 0.72%, while London’s FTSE 100 fell 0.07%. Retail sales in Germany rose 1.6% month-over-month in August, compared to a 1.5% gain in July.
Asian Markets
Asian markets closed higher on Thursday. Japan’s Nikkei 225 gained 0.26%, Hong Kong’s Hang Seng Index jumped 2.98%, China’s Shanghai Composite Index climbed 1.32%, and India’s BSE Sensex rose 0.18%. Producer prices in Japan increased by 2.8% year-over-year in September, compared to a 2.6% increase in the previous month.
Economics
The U.S. initial jobless claims increased by 33,000 from the previous week to 258,000 in the week ending October 5th, exceeding market estimates of 230,000. The annual inflation rate in the U.S. eased for a sixth consecutive month, reaching 2.4% in September from 2.5% in the previous month. However, it came in slightly above market estimates of 2.3%. U.S. natural-gas stocks rose 82 billion cubic feet in the week ended October 4th, compared to a 55 billion cubic feet gain in the previous week.
This news update provides a snapshot of the key market movements and economic indicators from Thursday, October 11th, 2024. Stay tuned for further updates and analysis.
