Midway through trading Thursday, the Dow traded down 0.97% to 34,056.76 while the NASDAQ fell 0.09% to 14,499.45. The S&P also fell, dropping 0.58% to 4,334.04.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 43,349,440 cases with around 695,110 deaths. India confirmed a total of at least 33,739,980 cases and 448,060 deaths, while Brazil reported over 21,399,540 COVID-19 cases with 596,120 deaths. In total, there were at least 233,286,300 cases of COVID-19 worldwide with more than 4,774,570 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
In trading on Thursday, consumer staples shares fell 1.2%.
CarMax, Inc. (NYSE:KMX) reported weaker-than-expected earnings for its second quarter on Thursday.
CarMax reported quarterly adjusted earnings of $1.72 per share, missing analysts’ estimates of $1.89 per share. The company’s quarterly sales came in at $7.99 billion, versus expectations of $6.85 billion.
Equities Trading UP
Virgin Galactic Holdings, Inc. (NYSE:SPCE) shares shot up 12% to $25.28 after the company announced it was cleared to fly FAA-licensed spaceflights following the conclusion of an FAA inquiry related to the Unity 22 flight in July.
Shares of Onion Global Limited (NYSE:OG) got a boost, shooting 27% to $8.65. Onion Global announced plans to launch the “LUCA Elite Club” events in its KOC community to enhance distribution channel efficiency.
AngioDynamics, Inc. (NASDAQ:ANGO) shares were also up, gaining 12% to $26.19 after the company reported upbeat Q1 results and raised FY22 sales guidance.
Check out these big movers of the day
Equities Trading DOWN
Kaival Brands Innovations Group, Inc. (NASDAQ:KAVL) shares tumbled 29% to $1.36 after the company reported pricing of $8.0 million underwritten public offering of common stock and warrants.
Shares of Volta Inc. (NYSE:VLTA) were down 26% to $8.33. Volta yesterday announced two new patents for EV charging station innovations.
Bed Bath & Beyond Inc. (NASDAQ:BBBY) was down, falling 24% to $16.93 after reporting downbeat quarterly results. The company also issued Q3 guidance below estimates.
In commodity news, oil traded up 0.3% to $75.08, while gold traded up 2.2% to $1,761.70.
Silver traded up 3% Thursday to $22.125 while copper fell 2.3% to $4.1020.
European shares were mostly lower today. The eurozone’s STOXX 600 gained 0.07%, the Spanish Ibex Index fell 0.7% and the German DAX 30 dropped 0.45%. Meanwhile, the London’s FTSE 100 fell 0.18%, French CAC 40 dropped 0.38% and Italy’s FTSE MIB slipped 0.05%.
Annual house price growth in the UK eased to 10% in September from 11% in the prior month, while current account deficit shrank to GBP 8.6 billion in the June quarter from GBP 8.8 billion in the prior period. The British economy grew by 5.5% on quarter during the third quarter.
German unemployment rate stood at 3.6% in August unchanged from August’s 16-month low level. Annual inflation rate in France rose to 2.1% in September from 1.9% in August, while Spain’s retail sales fell 0.9% from a year ago in August.
The US economy grew at a rate of 6.7% on quarter during the second quarter.
US initial jobless claims increased rose for a third consecutive week to 362,000 in the week ending September 25.
Corporate profits rose 10.5% to a record high of $2.44 trillion during the second quarter.
The Chicago PMI fell to 64.7 for September from 66.8 in August.
US natural-gas supplies climbed 88 billion cubic feet last week, the Energy Information Administration said.
Federal Reserve Bank of St. Louis President James Bullard is set to speak at 1:05 p.m. ET.
Federal Reserve Bank of San Francisco President Mary Daly is set to speak at 2:30 p.m. ET.
Data on farm prices for August will be released at 3:00 p.m. ET.
Check out the full economic calendar here