Nasdaq Moves Lower; Meta Platforms Posts Strong Sales

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite turning lower on Thursday.

The Dow traded up 0.18% to 44,795.97 while the NASDAQ fell 0.25% to 19,583.83. The S&P 500 also rose, gaining, 0.10% to 6,045.09.

Check This Out: Wall Street’s Most Accurate Analysts Spotlight On 3 Risk Off Stocks Delivering High-Dividend Yields

Leading and Lagging Sectors

Communication services shares surged by 1.9% on Thursday.

In trading on Thursday, information technology shares fell by 1.1%.

Top Headline

Meta Platforms Inc. META reported better-than-expected fourth-quarter sales results on Wednesday.

Meta reported fourth-quarter revenue of $48.39 billion, beating analyst estimates of $47.03 billion. The company reported fourth-quarter earnings of $8.02 per share, beating analyst estimates of $6.77 per share.

Equities Trading UP

NetScout Systems, Inc. NTCT shares shot up 19% to $26.69 after the company reported better-than-expected quarterly financial results.
Shares of Tectonic Therapeutic, Inc. TECXgot a boost, surging 97% to $50.75 after interim results showed TX45 achieved improvements in hemodynamics that met and exceeded prespecified objectives.
Alterity Therapeutics Limited ATHE shares were also up, gaining 40% to $4.2034 after the company reported topline results from its Phase 2 clinical trial of ATH434 in early-stage multiple system atrophy, showing clinically meaningful benefits at both doses studied.

Equities Trading DOWN

Whirlpool Corporation WHR shares dropped 18% to $106.47 after the company reported worse-than-expected fourth-quarter revenue results and issued FY25 guidance below estimates.
Shares of CARGO Therapeutics, Inc. CRGX were down 77% to $3.0401 after the company announced it discontinued its FIRCE-1 Phase 2 study. Around firm firms downgraded the stock also.
United Parcel Service, Inc. UPS was down, falling 17% to $111.46 after the company missed fourth-quarter revenue expectations despite beating EPS estimates.

Commodities

In commodity news, oil traded up 0.8% to $73.18 while gold traded up 1.6% at $2,838.40.

Silver traded up 3.9% to $32.610 on Thursday, while copper rose 1.1% to $4.3290.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.66%, Germany's DAX 40 gained 0.21% and France's CAC 40 climbed 0.75%. Spain's IBEX 35 Index rose 0.82%, while London's FTSE 100 rose 0.82%.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 0.25% and India's BSE Sensex gaining 0.30%.

Economics

U.S. initial jobless claims fell by 16,000 from the previous week to 207,000 in the week ending January 25, compared to market estimates of 220,000.
The U.S. economy expanded at an annualized rate of 2.3% in the fourth quarter, down from 3.1% in the previous quarter and versus market estimates of 2.6%.
U.S. pending home sales fell by 5.5% from the previous month in December.

Now Read This: