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U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling more than 300 points on Thursday.
The Dow traded down 0.83% to 38,122.78 while the NASDAQ fell 0.67% to 16,807.02. The S&P 500 also fell, dropping, 0.36% to 5,247.83.
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Leading and Lagging Sectors
Real estate shares rose by 1.3% on Thursday.
In trading on Thursday, information technology shares dipped by 1.3%.
Top Headline
Best Buy Co., Inc (NYSE:BBY) reported better-than-expected earnings for its fiscal first quarter.
The company posted adjusted EPS of $1.20, beating the street view of $1.08. Quarterly sales of $8.85 billion missed the analyst consensus of $8.96 billion. The firm approved a regular quarterly dividend of $0.94 per share.
Equities Trading UP
Foot Locker, Inc. (NYSE:FL) shares shot up 19% to $26.70 following a first-quarter earnings beat.
Shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) got a boost, surging 15% to $7.71 following first-quarter results.
OneMedNet Corporation (NASDAQ:ONMD) shares were also up, gaining 29% to $2.52 after the company announced that it has entered into a non-exclusive three-year Master Services Agreement with an undisclosed U.S.-based medical technology company.
Equities Trading DOWN
Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) shares dropped 35% to $2.0108 after the company reported worse-than-expected first-quarter financial results and issued FY24 revenue guidance below estimates.
Shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) were down 36% to $0.1041. NovaBay Pharmaceuticals announced plans for a 1-for-35 reverse stock split and revealed the receipt of NYSE American notice regarding stockholders' equity.
UiPath Inc. (NYSE:PATH) was down, falling 34% to $12.09 after the company reported first-quarter earnings, issued weak revenue guidance and announced a CEO transition. Some analysts downgraded the stock following the report.
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Commodities
In commodity news, oil traded down 1.9% to $77.75 while gold traded up 1% at $2,364.90.
Silver traded down 2.7% to $31.485 on Thursday, while copper fell 2.7% to $4.6630.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.59%, Germany's DAX gained 0.13% and France's CAC 40 gained 0.55%. Spain's IBEX 35 Index jumped 1.73%, while London's FTSE 100 gained 0.59%.
The services sentiment indicator in the Eurozone rose to 6.5 in May from 6.1 in April, while industry confidence indicator climbed to -9.9 in May versus a revised reading of -10.4 in April. Consumer confidence in the Eurozone gained by 0.4 points to -14.3 in May, while economic sentiment indicator surged to 96 points in May, recording the highest level in four months. The unemployment rate in the Eurozone fell to a new record low of 6.4% in April.
Asia Pacific Markets
Asian markets closed lower on Thursday, with Japan's Nikkei falling 1.30%, China's Composite Index dipping 0.62%, Hong Kong's Hang Seng Index falling 1.34% and India's S&P BSE Sensex falling 0.83%.
Economics
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