Following the market opening Thursday, the Dow traded down 0.19 percent to 24,071.81 while the NASDAQ declined 0.07 percent to 7,439.91. The S&P also fell, dropping 0.05 percent to 2,698.37.
Leading and Lagging Sectors;
Thursday morning, the telecommunication services shares surged 1.06 percent. Meanwhile, top gainers in the sector included Turkcell Iletisim Hizmetleri A.S. TKC 4.47% up 5 percent, andChina Telecom Corporation Limited CHA 2.48% up 3 percent.
In trading on Thursday, health care shares fell 0.59 percent.
Walgreens Boots Alliance Inc WBA 10.16% reported better-than-expected results for its third quarter on Thursday.
Walgreens posted Q3 earnings of $1.53 per share on sales of $34.334 billion. Analysts expected earnings of $1.48 per share on revenue of $34.16 billion.
Walgreens Boots Alliance announced a $10 billion buyback plans and raised its quarterly dividend from $0.40 to $0.44 per share.
Equities Trading UP;
PEDEVCO Corp. PED 74.68% shares shot up 69 percent to $3.962 after climbing 659.62 percent on Wednesday.
Shares of Madison Square Garden Company MSG 10.52% got a boost, shooting up 11 percent to $294.94 after the company disclosed that its board has unanimously approved plans to explore possible spinoff. The company plans to separate sports businesses from live entertainment units to create 2 publicly-traded companies.
Progress Software Corporation PRGS 10.7% shares were also up, gaining 10 percent to $38.22 following Q2 results. Benchmark upgraded Progress Software from Sell to Hold.
Equities Trading DOWN;
Arsanis, Inc. ASNS 61.82% shares dropped 65 percent to $6.2938 after the company announced plans to discontinue its Phase 2 trial of ASN100.
Shares of Differential Brands Group Inc. DFBG 27.88% were down 28 percent to $3.91. Differential Brands Group shares jumped over 500 percent Wednesday following deal to buy majority of North American unit of Global Brands Group for $1.38 billion.
Pier 1 Imports, Inc. PIR 23% was down, falling around 22 percent to $2.34 after the company reported weak sales for its first quarter. Comps were down 8.2 percent in the quarter. The company sees comps down 6-7 percent in the second quarter.
In commodity news, oil traded down 0.26 percent to $72.57 while gold traded down 0.22 percent to $1,253.30.
Silver traded down 1 percent Thursday to $15.99, while copper fell 1.3 to $2.9685.
European shares were lower today. The eurozone’s STOXX 600 dropped 0.92 percent, the Spanish Ibex Index fell 0.51 percent, while Italy’s FTSE MIB Index fell 0.82 percent. Meanwhile the German DAX dropped 1.41 percent, and the French CAC 40 slipped 0.77 percent while U.K. shares fell 0.33 percent.
U.S. economy expanded at an annual rate of 2 percent in the first quarter,.
Initial jobless claims rose 9,000 to 227,000 in the latest week. Economists were expecting claims to reach 220,000..
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
St. Louis Federal Reserve Bank President James Bullard is set to speak in St. Louis at 10:45 a.m. ET.
The Kansas City Fed manufacturing index for June will be released at 11:00 a.m. ET.
The Treasury is set to auction 7-year notes at 1:00 p.m. ET.
Data on farm prices for May will be released at 3:00 p.m. ET.
Data on money supply for the latest week will be released at 4:30 p.m. ET.