Crude Oil Gains 2%; Walmart Posts Upbeat Earnings

U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling more than 300 points on Thursday.

The Dow traded down 0.64% to 49,346.38 while the NASDAQ fell 0.45% to 22,650.78. The S&P 500 also fell, dropping, 0.42% to 6,852.56.

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Leading and Lagging Sectors

Energy shares gained by 1.1% on Thursday.

In trading on Thursday, financial stocks fell by 1%.

Top Headline

Walmart Inc. (NYSE:WMT) posted upbeat results for the fourth quarter issued a worse-than-expected fiscal 2027 outlook.

The company reported adjusted earnings per share of 74 cents, beating the Street view of 73 cents. Sales of $190.70 billion rose 5.6% year over year (up 4.9% in constant currency), topping the analyst consensus estimate of $190.43 billion.

Walmart projects fiscal 2027 adjusted earnings of $2.75 to $2.85 per share, below the analyst consensus estimate of $2.96, and sales of $731.12 billion to $738.19 billion, compared with the Street view of $748.06 billion.

Equities Trading UP
           

• Talkspace Inc (NASDAQ:TALK) shares shot up 26% to $4.94 after the company reported better-than-expected fourth-quarter financial results.
• Shares of Remitly Global Inc (NASDAQ:RELY) got a boost, surging 25% to $17.05 after the company reported better-than-expected fourth-quarter financial results and issued FY26 sales guidance above estimates.
• C3is Inc (NASDAQ:CISS) shares were also up, gaining 26% to $2.10 after the company posted fourth-quarter results.

Equities Trading DOWN

• Moleculin Biotech Inc (NASDAQ:MBRX) shares dropped 40% to $2.90. Moleculin announced exercise of warrants for $8.3 million gross proceeds.
• Shares of Alight Inc (NYSE:ALIT) were down 34% to $0.87 after the company reported worse-than-expected quarterly financial results.
• Klarna Group PLC (NYSE:KLAR) was down, falling 24% to $14.34 after the company reported mixed fourth-quarter financial results.

Commodities

In commodity news, oil traded up 2.1% to $66.53 while gold traded up 0.1% at $5,014.50.

Silver traded up 0.1% to $77.605 on Thursday, while copper fell 1.7% to $5.7030.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.69%, while Spain's IBEX 35 Index fell 1.41%. London's FTSE 100 fell 0.76%, Germany's DAX fell 1.14% and France's CAC 40 fell 0.75% during the session.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei gaining 0.57% and India's BSE Sensex falling 1.48%.

Economics

• The U.S. trade deficit increased to $70.3 billion in December from $53 billion in the previous month, compared to market estimates of a $55.5 billion gap.
• The Philadelphia Fed Manufacturing Index jumped to 16.3 in February, recording the highest level since September and topping market estimates of 8.5.
• U.S. wholesale inventories increased by 0.2% month-over-month to $917.2 billion in December, matching November’s level.
• U.S. initial jobless claims declined by 23,000 to 206,000 during the second week of February, compared to market estimates of 225,000.
• U.S. crude oil inventories declined by 9.014 million barrels in the week ended Feb. 13, recording the largest fall in five months and versus market estimates of a 2.1 million barrel build. 

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