Toward the end of trading Thursday, the Dow traded up 0.09 percent to 22,036.27 while the NASDAQ declined 0.28 percent to
6,345.03. The S&P also fell, dropping 0.18 percent to 2,473.11.
Leading and Lagging Sectors
Thursday afternoon, the non-cyclical consumer goods & services sector proved to be a source of strength for the market.
In trading on Thursday, energy shares were relative laggards, down on the day by about 0.87 percent. Meanwhile, top losers in
the sector included NGL Energy Partners LP (NYSE: NGL),
down 17 percent, and Contango Oil & Gas Company (NYSE: MCF), down 12 percent.
Top Headline
Kellogg Company (NYSE: K) reported
stronger-than-expected results for its second quarter.
Kellogg reported Q2 earnings of $0.98 per share, on sales of $3.187 billion. However, analysts were expecting earnings of $0.92
on revenue of $3.16 billion.
Equities Trading UP
Stamps.com Inc. (NASDAQ: STMP) shares shot up 31
percent to $198.75 as the company posted upbeat Q2 results and raised its FY17 outlook.
Shares of Solaredge Technologies Inc (NASDAQ: SEDG) got a boost, shooting up 21 percent to $27.56 after the company posted
stronger-than-expected quarterly results.
IntriCon Corporation (NASDAQ: IIN) shares were also
up, gaining 26 percent to $8.90. IntriCon reported Q2 net income of $0.08 per share, versus a year-ago loss of $0.23 per share.
Equities Trading DOWN
CPI Card Group Inc (NASDAQ: PMTS) shares dropped
34 percent to $1.67 following weak quarterly results. Barrington Research downgraded CPI Card Group from Market Perform to
Underperform.
Shares of Aerohive Networks Inc (NYSE: HIVE) were
down 33 percent to $3.10. Aerohive Networks reported a Q2 loss of $3.9 million on revenue of $42.3 million, and disclosed that it
has extended its $10 million buyback plan.
CRH Medical Corp (NYSE: CRHM) was down, falling
around 31 percent to $2.55 after the company disclosed financial and operating results for the quarter and six months ended June
30, 2017.
Commodities
In commodity news, oil traded down 0.73 percent to $49.23 while gold traded down 0.34 percent to $1,274.10.
Silver traded down 0.62 percent Thursday to $16.63, while copper fell 0.17 percent to $2.8795.
Eurozone
European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.08 percent, the Spanish Ibex Index rose 0.33
percent, while Italy’s FTSE MIB Index gained 1.02 percent. Meanwhile the German DAX declined 0.22 percent, and the French CAC 40
climbed 0.46 percent while U.K. shares rose 0.85 percent.
Economics
Initial jobless claims dropped 5,000 to 240,000 in the latest week, the Labor Department reported. However, economists were
expecting claims to reach 242,000 last week.
The Markit services PMI rose to 54.70 in July, versus previous reading of 54.20. Economists estimated a reading of 54.20.
U.S. factory orders rose 3.00 percent for June, versus economists’ expectations for a 2.90 percent growth.
The ISM non-manufacturing index dropped to 53.90 for July, versus prior reading of 57.40. Economists projected a reading of
57.00.
Domestic supplies of natural gas increased 20 billion cubic feet for the week ended July 28, the U.S. Energy Information
Administration reported. However, analysts were expecting a gain of 21 billion cubic feet.
Data on money supply for the recent week will be released at 4:30 p.m. ET.
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