U.S. stocks traded lower midway through trading, with the S&P 500 falling over 1% on Thursday.
The Dow traded down 0.92% to 51,738.04 while the NASDAQ declined 2.03% to 25,169.19. The S&P 500 also fell, dropping, 1.16% to 7,412.12.
Leading and Lagging Sectors
Industrials shares jumped by 2% on Thursday.
In trading on Thursday, communication services stocks fell by 5.2%.
Top Headline
T-Mobile US Inc. (NASDAQ:TMUS) stock fell around 5% on Thursday after the wireless carrier reported second-quarter results that beat earnings expectations but missed on revenue.
T-Mobile reported adjusted earnings of $2.99 per share, topping the analyst consensus estimate of $2.58, according to Benzinga Pro. Revenue increased to $22.79 billion from $21.13 billion a year earlier but missed the Street estimate of $22.94 billion.
Equities Trading UP
Equities Trading DOWN
Commodities
In commodity news, oil traded up 6.8% to $92.74 while gold traded down 2.6% at $4,044.80.
Silver traded down 4% to $57.915 on Thursday, while copper fell 1.8% to $6.3740.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 1%, while Spain’s IBEX 35 Index dipped 1.3% London’s FTSE 100 fell 0.6%, Germany’s DAX declined 1.2%, while France’s CAC 40 tumbled 1.6%.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 gaining 0.46%, Hong Kong’s Hang Seng index surging 1.28%, China’s Shanghai Composite rising 0.25% and India’s BSE Sensex falling 0.47%.
Economics
U.S. initial jobless claims US fell by 22,000 to 187,000 in the week ending July 18, compared to market estimates of 212,000.
The Chicago Fed National Activity Index climbed to -0.02 in June from -0.19 in the previous month.
Photo via Shutterstock