U.S. stocks traded lower midway through trading, with the S&P 500 falling over 1% on Thursday.

The Dow traded down 0.92% to 51,738.04 while the NASDAQ declined 2.03% to 25,169.19. The S&P 500 also fell, dropping, 1.16% to 7,412.12.

Leading and Lagging Sectors

Industrials shares jumped by 2% on Thursday.

In trading on Thursday, communication services stocks fell by 5.2%.

Top Headline

T-Mobile US Inc. (NASDAQ:TMUS) stock fell around 5% on Thursday after the wireless carrier reported second-quarter results that beat earnings expectations but missed on revenue.

T-Mobile reported adjusted earnings of $2.99 per share, topping the analyst consensus estimate of $2.58, according to Benzinga Pro. Revenue increased to $22.79 billion from $21.13 billion a year earlier but missed the Street estimate of $22.94 billion.

Equities Trading UP
           

  • NVE Corp (NASDAQ:NVEC) shares shot up 38% to $119.50 after the company reported a year-over-year increase in first-quarter financial results.
  • Shares of Novocure Ltd (NASDAQ:NVCR) got a boost, surging 25% to $19.47 after the company reported better-than-expected second-quarter financial results and raised its FY26 sales guidance above estimates.
  • Cleveland-Cliffs Inc (NYSE:CLF) shares were also up, gaining 19% to $11.20 after the company reported better-than-expected quarterly sales results.

Equities Trading DOWN

  • Albertsons Companies Inc (NYSE:ACI) shares dropped 21% to $11.53 after the company reported worse-than-expected first-quarter adjusted EPS results and cut its FY26 adjusted EPS guidance below estimates.
  • Shares of Leslie’s Inc (NASDAQ:LESL) were down 45% to $1.33 following reports suggesting the company is considering Chapter 11 Bankruptcy.
  • STMicroelectronics NV (NYSE:STM) was down, falling 15% to $55.95 following second-quarter results.

Commodities

In commodity news, oil traded up 6.8% to $92.74 while gold traded down 2.6% at $4,044.80.

Silver traded down 4% to $57.915 on Thursday, while copper fell 1.8% to $6.3740.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 1%, while Spain’s IBEX 35 Index dipped 1.3% London’s FTSE 100 fell 0.6%, Germany’s DAX declined 1.2%, while France’s CAC 40 tumbled 1.6%.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 gaining 0.46%, Hong Kong’s Hang Seng index surging 1.28%, China’s Shanghai Composite rising 0.25% and India’s BSE Sensex falling 0.47%.

Economics

  • U.S. initial jobless claims US fell by 22,000 to 187,000 in the week ending July 18, compared to market estimates of 212,000.
  • The Chicago Fed National Activity Index climbed to -0.02 in June from -0.19 in the previous month.

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