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Dow Falls Over 100 Points; US Inflation Rate Slows To 2.4% In September
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Dow Falls Over 100 Points; US Inflation Rate Slows To 2.4% In September
Oct 10, 2024 11:07 PM

U.S. stocks traded lower this morning, with the Dow Jones index falling over 100 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.29% to 42,386.67 while the NASDAQ fell 0.43% to 18,213.22. The S&P 500 also fell, dropping, 0.37% to 5,770.79.

Check This Out: Netflix To Rally Around 13%? Here Are 10 Top Analyst Forecasts For Thursday

Leading and Lagging Sectors

Utilities shares jumped by 0.7% on Thursday.

In trading on Thursday, industrials shares fell by 0.7%.

Top Headline

The annual inflation rate in the U.S. eased for a sixth straight month to 2.4% in September from 2.5% in the previous month, but came in above market estimates of 2.3%.

Equities Trading UP

                       

BloomZ Inc. ( BLMZ ) shares shot up 97% to $1.4099 after the company announced it was selected as the primary animation contractor for an upcoming project.

Shares of XChange TEC.INC ( XHG ) got a boost, surging 75% to $0.3130.

Jet.AI Inc. ( JTAI ) shares were also up, gaining 46% to $0.1355.

Equities Trading DOWN

Gritstone bio, Inc. ( GRTS ) shares dropped 64% to $0.0719 after the company announced it voluntarily filed for Chapter 11 restructuring.

Shares of Inno Holdings Inc. ( INHD ) were down 22% to $5.33. Inno Holdings ( INHD ) recently announced a 1-for-10 reverse stock split.

10x Genomics, Inc. ( TXG ) was down, falling 32% to $14.09 after the company guided third-quarter preliminary revenue of $151.7 million, down 1% year over year.

Commodities

In commodity news, oil traded up 1.1% to $74.07 while gold traded up 0.4% at $2,636.20.

Silver traded up 0.7% to $30.875 on Thursday, while copper rose 0.4% to $4.4155.

Euro zone

European shares were lower today. The eurozone's STOXX 600 slipped 0.2%, Germany's DAX slipped 0.2% and France's CAC 40 fell 0.3%. Spain's IBEX 35 Index fell 0.7%, while London's FTSE 100 fell 0.1%.

Retail sales in Germany rose 1.6% month-over-month in August compared to a 1.5% gain in July.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 0.26%, Hong Kong's Hang Seng Index jumping 2.98%, China's Shanghai Composite Index gaining 1.32% and India's BSE Sensex rising 0.18%.

Producer prices in Japan rose by 2.8% year-over-year in September compared to a 2.6% increase in the prior month.

Economics

U.S. initial jobless claims rose by 33,000 from the prior week to 258,000 in the week ending October 5th, compared to market estimates of 230,000.

The annual inflation rate in the U.S. eased for a sixth straight month to 2.4% in September from 2.5% in the previous month, but came in above market estimates of 2.3%.

Now Read This:  

Jim Cramer Likes Reddit Very Much, Calls Accenture A ‘Great Buy

 

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