Crude Oil Moves Higher; Charles Schwab Shares Fall After Q3 Results

U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining over 450 points on Thursday.

The Dow traded up 0.93% to 52,102.07 while the NASDAQ fell 0.24% to 26,628.00. The S&P 500 also rose, gaining, 0.16% to 7,731.67.

Leading and Lagging Sectors

Health care shares jumped by 2.5% on Thursday.

In trading on Thursday, energy stocks fell by 1.5%.

Top Headline

Charles Schwab Corp. (NYSE:SCHW) shares fell around 3% in Thursday’s session after the company reported mixed third-quarter results.

Adjusted earnings of $1.69 per share beat the analyst consensus estimate of $1.66. Revenue rose 17% year over year to a record $7.17 billion, versus the consensus estimate of $7.19 billion.

Equities Trading UP
           

• OPKO Health, Inc. (NASDAQ:OPK) shares shot up 21% to $1.6550 after Labcorp agreed to acquire select assets of OPKO’s subsidiary BioReference Health for $722 million in cash plus a potential $150 million earnout.
• Shares of Penske Automotive Group, Inc. (NYSE:PAG) got a boost, surging 8% to $211.18 after the company announced a $16.3 billion deal to go private.
• Wetour Robotics Limited (NASDAQ:WETO) shares were also up, gaining 35% to $1.12 after the company announced it has voluntarily paused further sales of its ordinary shares under its existing at-the-market equity offering program.

Equities Trading DOWN

• ManpowerGroup Inc. (NYSE:MAN) shares dipped 13% to $45.38 after the company reported worse-than-expected third-quarter sales results.
• Shares of FMC Corporation (NYSE:FMC) were down 35% to $5.24 after the company lowered its third-quarter revenue guidance and said commercial actions will result in $625 million to $675 million in charges.
• Treasure Global Inc. (NASDAQ:TGL) was down, falling 33% to $0.30 after the company announced a $1.2 million private placement to board members.

Commodities 

In commodity news, oil traded up 2.8% to $97.77 while gold traded up 1.7% at $4,175.50.

Silver traded up 1.6% to $56.765 on Thursday, while copper fell 1.8% to $6.5385.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 slipped 0.2%, while Spain’s IBEX 35 Index fell 0.4%, London’s FTSE 100 rose 0.7%, Germany’s DAX slipped 0.4%, while France’s CAC 40 gained 0.1%.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan’s Nikkei 225 dipping 4.90%, Hong Kong’s Hang Seng Index declining 1.03%, China’s SSE Composite Index tumbling 1.59% and India’s BSE Sensex gaining 2.11%.

Economics

• U.S. producer prices jumped 1.3% month over month in September, more than double the 0.5% pace economists expected, according to Bureau of Labor Statistics data released Thursday.
• U.S. retail sales climbed 0.8% month-over-month in September, compared to a revised 1.3% gain in August and topping market estimates of a 0.3% gain.
• The NY Empire State Manufacturing Index rose to 25.5 in October from 7.6 in the previous month, and topping market estimates of 10.3.
• The Philadelphia Fed Manufacturing Index declined to 20.9 in October from 37.8 in the previous month, down from market estimates of 28.4.
• U.S. initial jobless claims climbed by 1,000 to 199,000 in the week ending Oct. 10, compared to market expectations of 200,000.
• U.S. business inventories climbed by 0.4% month-over-month in August, versus a revised 0.9% gain in July.
• U.S. crude inventories dipped by 8.557 million barrels in the week ended Oct. 9, compared to market estimates of a 0.3 million-barrel draw. 

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