Dow Falls Over 100 Points; Deere Shares Dip After Q3 Results
U.S. stocks traded mostly lower this morning, with the Dow Jones index falling more than 100 points on Thursday.
Following the market opening Thursday, the Dow traded down 0.32% to 44,775.87 while the NASDAQ fell 0.09% to 21,693.26. The S&P 500 also fell, dropping, 0.17% to 6,455.42.
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Leading and Lagging Sectors
Communication services shares jumped by 0.2% on Thursday.
In trading on Thursday, materials stocks fell by 1.4%.
Top Headline
Shares of Deere & Company (NYSE:DE) fell 6% on Thursday after the company reported third-quarter financial results and lowered FY25 net income outlook.
Deere reported quarterly earnings of $4.75 per share which beat the analyst consensus estimate of $4.67 per share. The company reported quarterly sales of $12.018 billion which beat the analyst consensus estimate of $10.311 billion.
Equities Trading UP
- Expion360 Inc (NASDAQ:XPON) shares shot up 203% to $3.97 after the company reported better-than-expected quarterly financial results.
- Shares of Sonoma Pharmaceuticals Inc (NASDAQ:SNOA) got a boost, surging 74% to $5.25 after the company launched a HOCI-based diaper rash product in 3,600 Walmart stores and online.
- Aeries Technology Inc (NASDAQ:AERT) shares were also up, gaining 53% to $1.07 after the company reported a year-over-year increase in first-quarter EPS results.
Equities Trading DOWN
- Scienture Holdings Inc (NASDAQ:SCNX) shares dropped 46% to $1.20 after the company announced the pricing of a $3.9 million registered direct offering of 3.225 million shares at $1.30 per share.
- Shares of Bolt Projects Holdings Inc (NASDAQ:BSLK) were down 39% to $8.77, a day after surging over 550%.
- Chanson International Holding (NASDAQ:CHSN) was down, falling 31% to $0.053 after the company announced an 80-for-1 reverse stock split.
Commodities
In commodity news, oil traded up 1.1% to $63.33 while gold traded down 0.4% at $3,395.00.
Silver traded down 1.2% to $38.160 on Thursday, while copper fell 0.6% to $4.4685.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.2%, while Spain's IBEX 35 Index rose 0.9%. London's FTSE 100 fell 0.1%, Germany's DAX 40 gained 0.5% and France's CAC 40 rose 0.5% during the session.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan's Nikkei 225 dipping 1.45%, Hong Kong's Hang Seng falling 0.37%, China's Shanghai Composite declining 0.46% and India's BSE Sensex gaining 0.07%.
Economics
- U.S. initial jobless claims fell by 3,000 from the previous week to 224,000 in the first week of July compared to market estimates of 228,000.
- U.S. producer prices increased 0.9% month-over-month in July, following a flat reading in the previous month.
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