Following the market opening Thursday, the Dow traded down 0.12 percent to 23,406.78 while the NASDAQ declined 0.22 percent to 6,702.06. The S&P also fell, dropping 0.21 percent to 2,573.99.
Leading and Lagging Sectors;
Thursday morning, the basic materials shares climbed by 0.39 percent. Meanwhile, top gainers in the sector included Resolute Forest Products Inc RFP 17.09%, up 16 percent, and Endeavour Silver Corp EXK 10.35%, up 12 percent.
In trading on Thursday, telecommunications services shares fell 0.30 percent. Meanwhile, top losers in the sector included Cogent Communications Holdings Inc CCOI 9.71%, down 10 percent, and ORBCOMM Inc ORBC 6.43% down 7 percent.
The company reported that it earned $1.29 per share in the quarter on revenue of RMB55.122 million, or $8.28 billion. Wall Street analysts were expecting the company to earn $1.03 per share on revenue of $7.85 billion.
Equities Trading UP;
Shares of AAC Holdings Inc AAC 31.52% got a boost, shooting up 32 percent to $10.00 after the company posted better-than-expected Q3 earnings.
Electro Scientific Industries, Inc. ESIO 32.56% shares were also up, gaining 30 percent to $21.24 as the company reported upbeat Q2 results and issued a strong Q3 forecast.
Equities Trading DOWN;
Cartesian Inc CRTN 32.86% shares dropped 35 percent to $0.305 after the company reported the exploration of strategic alternatives. The company announced resignation of Peter Woodward as CEO and John Ferrara as CFO.
Shares of IMPINJ Inc PI 31.4% were down 31 percent to $22.57 after Q3 earnings. The company’s Q4 guidance fell way below estimates.
KEMET Corporation KEM 26.99% was down, falling around 27 percent to $18.19. Kemet reported preliminary Q2 adjusted earnings of $0.45 per share on sales of $301.5 million.
In commodity news, oil traded down 0.22 percent to $54.18 while gold traded down 0.02 percent to $1,277.10.
Silver traded down 0.21 percent Thursday to $17.14, while copper fell 0.62 percent to $3.123.
European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.37 percent, the Spanish Ibex Index fell 0.53 percent, while Italy’s FTSE MIB Index slipped 0.03 percent. Meanwhile the German DAX slipped 0.13 percent, and the French CAC 40 dropped 0.16 percent while U.K. shares rose 0.72 percent.
U.S. initial jobless claims dropped 5,000 to 229,000 in the latest week. However, economists expected claims to reach 235,000 last week.
U.S. nonfarm productivity rose at an annual pace of 3 percent in the third quarter, versus economists’ expectations for a 2.4 percent gain. Unit labor costs increased 0.5 percent for the third quarter.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
New York Federal Reserve Bank President William Dudley will speak in New York at 12:20 p.m. ET.
Data on money supply for the recent week will be released at 4:30 p.m. ET.
Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Chicago at 6:15 p.m. ET.