The key stock indices on Wall Street opened in the red on Thursday, with sentiment affected by the ongoing flow of corporate earnings reports, alongside lingering concerns over US tariffs, inflated tech valuations, and inconsistent economic figures.
As of 10:25 AM Eastern Time. The S&P 500 slipped 0.4%, the Dow Jones Industrial Average fell 0.4%, and the Nasdaq Composite lost 0.7%.
At the opening bell, the Dow Jones Industrial Average fell 55.9 points, or 0.12%, to 47,255.12. The S&P 500 fell 8.7 points, or 0.13%, to 6,787.59, while the Nasdaq Composite dropped 38.5 points, or 0.16%, to 23,461.289.
In the bond market, the yield on the 10-year Treasury fell to 4.09% from 4.16% late on Wednesday. The yield on the 2-year Treasury fell to 3.57% from 3.63%.
Key Stock Movers
Datadog shares jumped 22.4% after the software company’s quarterly earnings beat Wall Street forecasts.
Rockwell Automation stock gained 5.7% after strong quarterly results.
DoorDash shares slumped 16% after the delivery firm reported third quarter profit below Wall Street expectations.
Moderna stock gained 3.5% after the vaccine maker posted a smaller-than-expected third quarter loss.
Elf Beauty shares tanked 32% after the cosmetics maker forecast annual sales and profit below expectations.
Bullion Market
Gold prices climbed on Thursday, holding steady near $4,000 per ounce. This increase was buoyed by a feebler US dollar and renewed demand for a safe haven, owing to worries over a protracted US government shutdown and lingering doubt concerning the legality of Trump tariffs.
Spot gold gained 0.4% to reach $3,998.65 per ounce by 09:43 ET (1207 GMT). US gold futures for December delivery rose 0.3% to $4,005.40 per ounce.
Among other metals, spot silver advanced 0.4% to $48.24 per ounce. Conversely, platinum dipped 0.2% to $1,568.26, and palladium declined 1.3% to $1,401.14.
Crude Oil
Oil prices were largely unchanged on Thursday, as some concerns over a potential oversupply eased, with sanctions imposed on Russian companies starting to take effect.
Brent crude futures edged up 3 cents, or 0.05%, to $63.55 a barrel by 1415 GMT. US West Texas Intermediate (WTI) futures saw a minor gain of 2 cents, or 0.03%, to $59.62.
The recent sanctions, placed on Russia’s biggest oil companies two weeks ago, are beginning to spark certain worries about supply disruptions, despite rising output figures from OPEC and its allies.
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