Gold Gains Over 1%; TD SYNNEX Shares Plunge After Downbeat Results

U.S. stocks traded lower midway through trading, with the Dow Jones index falling around 90 points on Thursday.

The Dow traded down 0.23% to 42,358.68 while the NASDAQ fell 0.05% to 17,890.40. The S&P 500 also fell, dropping, 0.04% to 5,709.99.

Check This Out: Top 3 Industrials Stocks Which Could Rescue Your Portfolio This Quarter

Leading and Lagging Sectors

Consumer discretionary shares jumped by 1.2% on Thursday.

In trading on Thursday, information technology shares fell by 0.3%.

Top Headline

Shares of TD SYNNEX Corp (NYSE:SNX) dipped around 18% on Thursday after the company reported its first-quarter results.

Quarterly revenue of $14.53 billion, up 4.0% year over year, missed the analyst view of $14.79 billion. The Fremont, California-based company reported an adjusted EPS of $2.80, missing the street view of $2.91.

Equities Trading UP
                       

• Soleno Therapeutics, Inc. (NASDAQ:SLNO) shares shot up 41% to $69.22 after the company announced it secured FDA approval for its first commercial drug for a rare genetic disorder.
• Shares of Greenland Technologies Holding Corporation (NASDAQ:GTEC)got a boost, surging 62% to $2.09 after the company reported a year-over-year increase in FY24 EPS results.
• Dermata Therapeutics, Inc. (NASDAQ:DRMA) shares were also up, gaining 26% to $1.6996 after the company announced topline results from its Phase 3 trial of XYNGARI, which achieved its primary endpoints.

Equities Trading DOWN

• Nxu, Inc. (NASDAQ:NXU) shares dropped 38% to $0.1641 after the company announced a 1-for-20 reverse stock split.
• Shares of Equillium, Inc. (NASDAQ:EQ) were down 34% to $0.4878 after the company announced the results of the Phase 3 EQUATOR study of Itolizumab, which showed that it did not improve complete or overall response rates.
• Auddia Inc. (NASDAQ:AUUD) was down, falling 30% to $0.2345 after the company announced a 1-for-17 reverse stock split.

Commodities

In commodity news, oil traded up 0.1% to $69.68 while gold traded up 1.3% at $3,062.40.

Silver traded up 1% to $34.555 on Thursday, while copper fell 2.6% to $5.1035.

Euro zone

European shares were lower today. The eurozone's STOXX 600 dipping 0.57%, Germany's DAX 40 fell 0.87% and France's CAC 40 dipped 0.42%. Spain's IBEX 35 Index fell 0.08%, while London's FTSE 100 fell 0.46%.

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 falling 0.60%, China's Shanghai Composite Index gaining 0.15%, Hong Kong's Hang Seng Index rising 0.41% and India's BSE Sensex rising 0.41%.

Economics

• U.S. initial jobless claims fell by 1,000 to 224,000 in the week ending March 22, compared to market estimates of 225,000.
• The U.S. economy grew by an annualized rate of 2.4% in the fourth quarter, up from 2.3% in the prior estimates.
• U.S. wholesale inventories increased by 0.3% month-over-month to $903 billion in February compared to a 0.8% gain in the prior month.
• The U.S. trade deficit in goods shrank to $147.91 billion in February from a revised record level of $155.6 billion in the prior month.
• Pending home sales rose 2% month-over-month in February, topping market estimates of 1.5%.

Now Read This:

• Jim Cramer: Stryker Is A ‘Good’ Company, Says He Likes This Utilities Stock