Crude Oil Moves Lower; Caterpillar Shares Fall Following Q3 Results

U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling more than 250 points on Thursday.

The Dow traded down 0.55% to 52,184.82 while the NASDAQ fell 1.62% to 26,118.68. The S&P 500 also fell, dropping, 0.58% to 7,698.73.

Leading and Lagging Sectors

Real estate shares jumped by 1.9% on Thursday.

In trading on Thursday, communication services stocks fell by 7%.

Top Headline

Caterpillar Inc. (NYSE:CAT) stock plunged around 9% Thursday after the heavy equipment maker reported better-than-expected third-quarter 2026 earnings and revenue but warned of higher tariff costs and margin pressure.

The company maintained its full-year sales growth forecast but expects adjusted operating margin near the bottom of its target range.

Caterpillar reported adjusted earnings of $7.20 per share, beating analysts’ consensus estimate of $7.08. Earnings rose 45.5% from $4.95 per share a year earlier. Revenue increased 17.3% year over year to $20.682 billion from $17.638 billion, topping Wall Street’s estimate of $20.545 billion.

Equities Trading UP
           

• Porch Group Inc (NASDAQ:PRCH) shares shot up 26% to $20.48 after the company reported upbeat quarterly financial results and raised its FY26 sales guidance above estimates.
• Shares of Teladoc Health Inc (NYSE:TDOC) got a boost, surging 23% to $8.46 after the company reported better-than-expected third-quarter financial results and raised its FY26 GAAP EPS guidance.
• Crocs Inc (NASDAQ:CROX) shares were also up, gaining 22% to $146.25 after the company reported upbeat third-quarter financial results and raised its FY26 guidance above estimates.

Equities Trading DOWN

• LiveWire Group Inc (NYSE:LVWR) shares dipped 44% to $0.90 after the company reported third-quarter results.
• Shares of Xerox Holdings Corp (NASDAQ:XRX) were down 40% to $1.68 following third-quarter results.
• Iovance Biotherapeutics Inc (NASDAQ:IOVA) was down, falling 31% to $10.14 after the company announced updated results from Cohorts 1 and 2 of its Phase 2 IOV-LUN-202 trial.

Commodities 

In commodity news, oil traded down 0.8% to $101.99 while gold traded down 0.8% at $4,020.50.

Silver traded down 2.9% to $52.125 on Thursday, while copper fell 1.8% to $6.5550.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 1%, while Spain’s IBEX 35 Index fell 0.2%, London’s FTSE 100 gained 0.7%, Germany’s DAX gained 1.5%, while France’s CAC 40 surged 1.3%.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 surging 1.10%, Hong Kong’s Hang Seng index falling 0.59%, China’s SSE Composite Index declining 0.82% and India’s BSE Sensex gaining 1.24%.

Economics

• U.S. initial jobless claims declined by 1,000 to 194,000 in the week ending Oct. 24, compared to market expectations of 199,000.
• The U.S. core Personal Consumption Expenditures price index, the Fed’s preferred gauge of underlying inflation, increased 0.3% month-over-month in September, in-line with August’s increase.
• The U.S. economy grew at an annualized rate of 3.4% in the third quarter, following a 2.2% gain in the second quarter and above market estimates of 3.2%.

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