S&P 500 Moves Lower; Walmart Shares Fall After Q2 Results

U.S. stocks traded lower midway through trading, with the Dow Jones index falling around 50 points on Thursday.

The Dow traded down 0.62% to 44,660.91 while the NASDAQ fell 0.74% to 21,016.48. The S&P 500 also fell, dropping, 0.66% to 6,353.29.

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Leading and Lagging Sectors

Health care shares jumped by 0.7% on Thursday.

In trading on Thursday, consumer staples stocks fell by 0.9%.

Top Headline

Shares of Walmart Inc. (NYSE:WMT) fell 4% on Thursday after the company reported mixed second-quarter results and raised its annual outlook.

The retail giant reported adjusted earnings per share of 68 cents, missing the analyst consensus estimate of 74 cents. Quarterly sales of $177.40 billion, up 4.8% year over year, outpaced the Street view of $176.16 billion. Total revenues on a constant currency basis increased 5.6%.

Equities Trading UP
           

• Aptorum Group Limited (NASDAQ:APM) shares shot up 155% to $3.24 after the company announced that New York State’s Department of Health has approved the DiamiR APOE genotyping test.
• Shares of Protagenic Therapeutics, Inc. (NASDAQ:PTIX) got a boost, surging 94% to $4.43 after the company announced it has completed the first dose injections in its Phase 1 multiple-dose study of PT00114.
• SelectQuote, Inc. (NYSE:SLQT) shares were also up, gaining 40% to $2.5709 after the company reported better-than-expected fourth-quarter financial results and issued FY26 revenue guidance above estimates.

Equities Trading DOWN

• ModivCare Inc. (NASDAQ:MODV) shares dropped 61% to $0.7196. Modivcare filed voluntary Chapter 11 to implement restructuring support agreement backed by more than 90% of first lien lenders and 70% of second lien lender.
• Shares of Coty Inc. (NYSE:COTY) were down 20% to $3.8850 following a fourth-quarter adjusted EPS miss. Additionally, Evercore ISI Group cut its price target on the stock from $10 to $7.
• Canadian Solar Inc. (NASDAQ:CSIQ) was down, falling 19% to $10.38 after the company reported worse-than-expected second-quarter financial results and cut its FY25 sales guidance below estimates.

Commodities

In commodity news, oil traded down 0.2% to $63.06 while gold traded down 0.2% at $3,383.50.

Silver traded up 0.9% to $38.100 on Thursday, while copper fell 0.2% to $4.4335.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 slipped 0.07%, while Spain's IBEX 35 Index fell 0.10%. London's FTSE 100 rose 0.18%, Germany's DAX 40 gained 0.01% and France's CAC 40 fell 0.53% during the session.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei 225 falling 0.65%, Hong Kong's Hang Seng falling 0.24%, China's Shanghai Composite gaining 0.13% and India's BSE Sensex gaining 0.17%.

Economics

• U.S. initial jobless rose by 11,000 from the previous week to 235,000 in the second week of August, compared to market estimates of 225,000.
• U.S. existing home sales climbed by 2% from the previous month to an annualized rate of 4.01 million in July.
• The S&P Global services PMI fell to 55.4 in August from 55.7 in the previous month.
• The S&P Global manufacturing PMI climbed to 53.3 in August versus 49.8 in July.
• The Philadelphia Fed Manufacturing Index fell to -0.3 in August compared to 15.9 in the previous month.

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