Mid-morning market update: mixed markets; CarMax Profit lacks views
After the market opened on Thursday, the Dow Jones traded 0.11% to 34,352.56 while the NASDAQ climbed 0.44% to 14,576.37. The S&P also rose, gaining 0.15% to 4,365.81.
The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 43,349,440 cases with an estimated 695,110 deaths. India has confirmed a total of at least 33,739,980 cases and 448,060 deaths, while Brazil has reported more than 21,399,540 COVID-19 cases with 596,120 deaths. In total, there have been 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.
Sectors ahead and behind
Information technology stocks jumped 0.5% on Thursday. Meanwhile, the top industry winners included indie Semiconductor, Inc. (NASDAQ: INDI), up 13% and AgileThought, Inc. (NASDAQ: AGIL) up 9%.
In Thursday’s trading, energy stocks fell 1.2%.
CarMax, Inc. (NYSE: KMX) on Thursday reported weaker-than-expected earnings for its second quarter.
CarMax reported quarterly adjusted earnings of $ 1.72 per share, with analysts’ estimates missing of $ 1.89 per share. The company’s quarterly sales were $ 7.99 billion, against expectations of $ 6.85 billion.
Bullish stock trading
Paltalk, Inc. (NASDAQ: PALT) Shares jumped 58% to $ 13.23. Paltalk hired ClearThink to lead an expanded investor relations program.
Actions of Onion Global Limited (NYSE: OG) got a boost, pulling 25% to $ 8.48. Onion Global has announced its intention to launch “LUCA Elite Club” events in its KOC community to improve the efficiency of distribution channels.
AngioDynamics, Inc. Shares (NASDAQ: ANGO) also rose, gaining 16% to $ 27.18 after the company reported bullish first quarter results and raised its sales guidance for fiscal 22.
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Downward trading of stocks
Elite Education Group International Limited (NASDAQ: EEIQ) Shares fell 37% to $ 4.12 after falling more than 25% on Wednesday.
Actions of Volta Inc. (NYSE: VLTA) was down 29% to $ 7.94. Volta yesterday announced two new patents for innovations in charging stations for electric vehicles.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) was lower, falling 25% to $ 16.59 after posting disappointing quarterly results. The company also released a forecast for the third quarter below estimates.
In the commodities news, oil traded up 0.1% to $ 74.88, while gold traded up 0.4% to $ 1,729.00.
Silver traded up 0.7% on Thursday to $ 21.645 while copper fell 1.3% to $ 4.1455.
European stocks were mostly higher today. The eurozone STOXX 600 gained 0.4%, the Spanish Ibex index fell 0.2% and the German DAX 30 fell 0.1%. Meanwhile, London’s FTSE 100 climbed 0.3%, the French CAC 40 by 0.2% and the Italian FTSE MIB by 0.1%.
Annual house price growth in the UK fell to 10% in September from 11% the month before, while the current account deficit narrowed to £ 8.6bn in the quarter of June, up from £ 8.8 billion the previous period. The UK economy grew 5.5% quarter on quarter in the third quarter.
Germany’s unemployment rate stood at 3.6% in August, unchanged from the lowest level in 16 months. The annual inflation rate in France rose to 2.1% in September from 1.9% in August, while retail sales in Spain fell 0.9% from a year ago in August .
The US economy grew at a rate of 6.7% quarter on quarter during the second quarter.
In the United States, initial jobless claims rose for the third week in a row to 362,000 in the week ending September 25.
Corporate profits rose 10.5% to a record high of $ 2.44 trillion in the second quarter.
Chicago’s PMI fell to 64.7 in September from 66.8 in August.
The Energy Information Administration’s weekly report on natural gas inventories in underground storage will be released at 10:30 a.m. ET.
Federal Reserve Bank of Atlanta President Raphael Bostic will speak at 11 a.m. ET.
The Treasury is expected to auction the 4 and 8 week bills at 11:30 a.m. ET.
Federal Reserve Bank of Philadelphia chairman Patrick Harker is scheduled to speak at 11:30 a.m. ET.
Federal Reserve Bank of Chicago President Charles Evans will speak at 12:30 p.m. ET.
Federal Reserve Bank of St. Louis President James Bullard will speak at 1:05 p.m. ET.
Federal Reserve Bank of San Francisco President Mary Daly will speak at 2:30 p.m. ET.
Farm price data for August will be released at 3 p.m. ET.
Check out the full economic calendar here
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