Crude Oil Down 1%; Dow Posts Upbeat Earnings

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite gaining over 100 points on Thursday.

The Dow traded down 0.42% to 42,337.45 while the NASDAQ rose 0.65% to 18,396.30. The S&P 500 also rose, gaining, 0.15% to 5,806.21.

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Leading and Lagging Sectors

Consumer discretionary shares rose by 3.2% on Thursday.

In trading on Thursday, materials shares fell by 1.4%.

Top Headline

Dow Inc DOW reported better-than-expected third-quarter results.

Sales rose 1% year over year to $10.88 billion, beating the consensus of $10.65 billion, on higher sales in the U.S. and Canada. Adjusted EPS was $0.47, beating the consensus of $0.46.

Equities Trading UP
                       

• Nxu, Inc. NXU shares shot up 116% to $0.5406. Nxu and Verde Bioresins reported a proposed merger.
• Shares of QuantumScape Corporation QS got a boost, surging 24% to $6.43 after the company said it has begun producing low volumes of its first B-sample cells and has begun shipping cells for automotive customer testing.
• Molina Healthcare, Inc. MOH shares were also up, gaining 20% to $330.40 after the company reported better-than-expected third-quarter financial results.

Equities Trading DOWN

• Beyond, Inc. BYON shares dropped 33% to $6.39 after the company reported worse-than-expected third-quarter adjusted EPS and sales.
• Shares of Marinus Pharmaceuticals, Inc. MRNS were down 82% to $0.3019 after the company announced its Phase 3 TrustTSC trial of Oral Ganaxolone did not meet its primary endpoint.
• Community Health Systems, Inc. CYH was down, falling 23% to $4.29 following third-quarter earnings.

Commodities

In commodity news, oil traded down 1% to $70.08 while gold traded up 0.7% at $2,748.60.

Silver traded down 0.1% to $33.825 on Thursday, while copper rose 0.6% to $4.3605.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.03%, Germany's DAX gained 0.34% and France's CAC 40 rose 0.08%. Spain's IBEX 35 Index fell 0.21%, while London's FTSE 100 rose 0.13%.

The S&P Global UK composite PMI declined to 51.7 in October from 52.6 in September, while Eurozone composite edged higher rose to 49.7 in October versus 49.6 in the previous month.

The HCOB Germany composite PMI increased to 48.4 in October versus 47.5 in September, while French composite PMI slipped to 47.3 in October from 48.6 in September.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan's Nikkei 225 gaining 0.10%, Hong Kong's Hang Seng Index falling 1.30%, China's Shanghai Composite Index falling 0.68% and India's BSE Sensex falling 0.02%.

The HSBC India composite PMI rose to 58.6 in October from 58.3 in the prior month. The au Jibun Bank Flash Japan composite PMI declined to 49.4 in October compared to a final reading of 52.0 in September.

Economics

• The Chicago Fed National Activity Index fell to a reading of -0.28 in September compared to a revised level of -0.01 in August.
• U.S. initial jobless claims declined by 15,000 from the prior week to 227,000 during the period ending Oct. 19, compared to market estimates of 242,000.
• U.S. building permits declined by 3.1% to an annual rate of 1.425 million in September.
• The S&P Global flash manufacturing PMI rose to 47.8 in October versus a 15-month low level of 47.3 in September.
• The S&P Global services PMI increased to 55.3 in October from 55.2 in the prior month.
• Sales of new single-family homes in the U.S. surged 4.1% to an annual rate of 738,000 in September.

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