U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling around 0.3% on Thursday.

The Dow traded down 0.10% to 49,957.07 while the NASDAQ dipped 0.32% to 26,185.92. The S&P 500 also fell, dropping, 0.24% to 7,415.02.

Leading and Lagging Sectors

Utilities shares jumped by 0.8% on Thursday.

In trading on Thursday, consumer staples stocks fell by 1.7%.

Top Headline

Walmart Inc. (NASDAQ:WMT) stock fell around 7% on Thursday after the retail giant reported first-quarter results that topped revenue estimates but reaffirmed full-year guidance below Wall Street expectations.

Adjusted earnings came in at 66 cents per share, matching analyst estimates. Revenue increased 7.3% year over year, or 5.9% in constant currency, to $177.8 billion, ahead of consensus estimates of $175.0 billion.

Equities Trading UP
           

  • NewGenIvf Group Ltd (NASDAQ:NIVF) shares shot up 60% to $1.18 as the company entered into a strategic agreement with K25.ai for a $2 million investment at a valuation of $100 million
  • Shares of Infleqtion inc (NYSE:INFQ) got a boost, surging 30% to $14.58 after the company announced it signed a Letter of Intent with the U.S. Department of Commerce’s CHIPS Research and Development Office for $100 million in proposed funding to accelerate development of neutral-atom quantum systems.
  • Liminatus Pharma Inc (NASDAQ:LIMN) shares were also up, gaining 65% to $0.31 after the company announced it entered into a definitive merger agreement with InnocsAI.

Equities Trading DOWN

  • Intuit Inc (NASDAQ:INTU) shares dropped 20% to $308.63 after the company reported third-quarter financial results and issued FY26 GAAP EPS guidance below estimates. Also, the company reduced its full-time workforce by 17 percent.
  • Shares of Borr Drilling Ltd (NYSE:BORR) were down 15% to $5.28 following first-quarter results.
  • Wellgistics Health Inc (NASDAQ:WGRX) was down, falling 25% to $0.096 after the company announced a 1-for-50 reverse stock split intended to help regain compliance with Nasdaq’s minimum bid price requirement.

Commodities

In commodity news, oil traded up 2.7% to $100.89 while gold traded down 0.8% at $4,500.40.

Silver traded down 1.1% to $75.335 on Thursday, while copper fell 1% to $6.2670.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 gained 0.1%, while Spain's IBEX 35 Index fell 0.1%. London's FTSE 100 rose 0.2%, Germany's DAX dipped 0.5%, while France's CAC 40 declined 0.2%.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan's Nikkei 225 gaining 3.14%, Hong Kong's Hang Seng Index falling 1.03%, China's Shanghai Composite declining 2.04% and India's BSE Sensex falling 0.18%

Economics

  • The S&P Global services PMI fell to 50.9 in May from 51 in the previous month.
  • The S&P Global manufacturing PMI climbed to 55.3 in May from 54.5 in April, and topping market estimates of 53.8.
  • The S&P Global composite PMI came in unchanged from the previous month at 51.7 in May.
  • The Philadelphia Fed manufacturing index declined to -0.4 in May from 26.7 in the previous month and versus market estimates of 18.
  • U.S. initial jobless claims declined by 3,000 to 209,000 in the second week of May, compared to market estimates of 210,000.
  • U.S. housing starts fell 2.8% month-over-month to an annual rate of 1.465 million in April, versus a revised 1.507 million in the previous month.

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