U.S. stocks traded mostly lower toward the end of trading, with the Nasdaq Composite dipping 2% on Thursday.

The Dow traded up 0.07% to 39,748.00 while the NASDAQ fell 2% to 18,274.88 . The S&P 500 also fell, dropping, 0.94% to 5,581.00.

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Leading and Lagging Sectors

Real estate shares jumped by 2.4% on Thursday.

In trading on Thursday, information technology shares fell by 2.7%.

Top Headline

Delta Air Lines, Inc ( DAL ). posted downbeat second-quarter earnings and issued lower-than-expected third-quarter earnings outlook.

Delta Air Lines ( DAL ) reported quarterly earnings of $2.36 per share which missed the analyst consensus estimate of $2.37 per share. The company reported quarterly sales of $16.658 billion which beat the analyst consensus estimate of $15.452 billion, according to data from Benzinga Pro.

Equities Trading UP

Biodexa Pharmaceuticals Plc ( BDRX ) shares shot up 40% to $0.9888 after the company reported 12-month Phase 2 trial results for eRapa in treating Familial Adenomatous Polyposis.

Shares of Methode Electronics, Inc ( MEI ). got a boost, surging 47% to $13.84 after the company reported better-than-expected fourth-quarter sales results.

QuantumScape Corporation ( QS ) shares were also up, gaining 32% to $7.13 after the company announced it entered into an agreement with PowerCo to industrialize solid-state batteries.

Equities Trading DOWN

E2open Parent Holdings, Inc ( ETWO ). shares dropped 11% to $3.97 after the company reported worse-than-expected first-quarter sales results.

Shares of Delta Air Lines, Inc ( DAL ).. were down 6% to $44.09 after the company posted downbeat second-quarter earnings and issued lower-than-expected third-quarter earnings outlook.

Clene Inc ( CLNN ). was down, falling 12% to $4.9508. Clene ( CLNN ) announced plans to submit briefing book to the U.S. FDA in connection with granted Type C interaction to obtain FDA feedback on potential pathway to accelerated approval for CNM-Au8 in ALS.

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Commodities

In commodity news, oil traded up 0.8% to $82.78 while gold traded up 1.7% at $2,420.20.

Silver traded up 2.2% to $31.695 on Thursday, while copper fell 2.1% to $4.5120.

Euro zone

European shares closed higher today. The eurozone's STOXX 600 gained 0.60%, Germany's DAX gained 0.69% and France's CAC 40 rose 0.71%. Spain's IBEX 35 Index rose 0.89%, while London's FTSE 100 rose 0.36%.

The UK’s trade deficit narrowed to £4.89 billion in May versus a revised £6.42 billion in the previous month, while British economy grew by 0.4% month-over-month in May. Industrial production in the UK increased 0.2% month-over-month for May. Annual inflation rate in Germany eased to 2.2% in June from 2.4% in the prior month.

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan's Nikkei gaining 0.94%, Hong Kong's Hang Seng Index jumping 2.06%, China's Shanghai Composite Index climbing 1.06% and India's S&P BSE Sensex falling 0.03%.

Japanese core machinery orders declined 3.2% month-over-month to 857.8 billion yen during May versus a 2.9% decline in April.

Economics

The Consumer Price Index in the United States slowed more than expected in June. Headline CPI inflation slowed from 3.3% in May 2024 to 3% in June 2024 on a year-over-year basis, below the 3.1% expected among economists, as tracked by TradingEconomics.

On a monthly basis, inflation contracted by 0.1% compared to May 2024, decelerating from the previous flat reading and marking the lowest print since May 2020.

U.S. initial jobless claims declined by 17,000 to 222,000 in the week ending July 6, compared to market estimates of 236,000.

The EIA said U.S. natural gas supplies increased by 65 billion cubic feet in the week ended July 5.

The U.S. government recorded a budget deficit of $347 billion in May compared to the $228 billion gap posted in the year-ago month.

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