Following the market opening Thursday, the Dow traded down 0.25 percent to 23,505.42 while the NASDAQ declined 0.63 percent to 6,746.06. The S&P also fell, dropping 0.38 percent to 2,584.51.
Leading and Lagging Sectors;
Thursday morning, the non-cyclical consumer goods & services shares climbed by 0.41 percent. Meanwhile, top gainers in the sector includedNature’s Sunshine Prod. NATR 28.8%, up 28 percent, and Craft Brew Alliance Inc BREW 8.19%, up 8 percent.
In trading on Thursday, basic materials shares fell 0.88 percent. Meanwhile, top losers in the sector included Pan American Silver Corp. (USA) PAAS 7.25%, down 8 percent, and Albemarle Corporation ALB 4.7% down 5 percent.
Macy’s Inc M 1.82% reported better-than-expected earnings for its third quarter.
Humana posted quarterly EPS of $0.23 per share on revenue of $5.281 billion. However, analysts were expecting earnings of $0.19 per share on revenue of $5.31 billion. Sales at its stores open more than 12 months declined 3.6 percent.
Macy’s raised its FY17 adjusted earnings outlook from $3.37-$3.62 per share to $3.38-$3.63 per share.
Equities Trading UP;
Otonomy Inc OTIC 92.86% shares shot up 79 percent to $5.00 after the company disclosed that VERTS-2 Phase 3 trial of OTIVIDEX™ in patients with Ménière’s disease met primary endpoint. Otonomy also reported a narrower-than-expected Q3 loss.
SAGE Therapeutics Inc SAGE 49.9% shares were also up, gaining 52 percent to $95.39 after the company reported that brexanolone achieved primary endpoints in both Phase 3 trials in postpartum depression.
Equities Trading DOWN;
Willbros Group Inc WG 43.17% shares dropped 41 percent to $1.65 after the company posted a Q3 loss of $0.52 per share on revenue of $240.77 million.
Shares of Vista Outdoor Inc VSTO 28.16% were down 32 percent to $12.53 after the company reported downbeat Q3 sales and lowered its outlook.
Meet Group Inc MEET 30.47% was down, falling around 30 percent to $2.42. Meet Group reported Q3 adjusted earnings of $0.11 per share on revenue of $32.2 million and issued a weak Q4 sales forecast. Canaccord Genuity downgraded Meet Group from Buy to Hold.
In commodity news, oil traded up 0.21 percent to $56.93 while gold traded up 0.31 percent to $1,287.70.
Silver traded down 0.22 percent Thursday to $17.10, while copper fell 0.71 percent to $3.0775.
European shares were lower today. The eurozone’s STOXX 600 declined 0.93 percent, the Spanish Ibex Index fell 0.88 percent, while Italy’s FTSE MIB Index slipped 0.84 percent. Meanwhile the German DAX declined 1.06 percent, and the French CAC 40 dropped 0.94 percent while U.K. shares fell 0.60 percent.
Initial jobless claims climbed 10,000 to 239,000 in the week ended November 4. However, economists were expecting claims to reach 231,000 last week.
U.S. wholesale inventories rose 0.30 percent for September, versus economists’ expectations for a 0.30 percent growth.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
The Treasury is set to auction 30-year bonds at 1:00 p.m. ET.
Data on money supply for the recent week will be released at 4:30 p.m. ET.