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U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining over 1% on Thursday.
The Dow traded up 1.36% to 40,396.01 while the NASDAQ rose 1.06% to 17,526.08. The S&P 500 also rose, gaining, 1.09% to 5,486.47.
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Leading and Lagging Sectors
Industrials shares jumped by 2.2% on Wednesday.
In trading on Wednesday, utilities shares fell by 0.2%.
Top Headline
American Airlines Group Inc. (NASDAQ:AAL) reported mixed second-quarter 2024 financial results and lowered its 2024 EPS outlook.
The airline reported second quarter total operating revenue growth of 2% year-over-year to $14.334 billion, missing the consensus of $14.36 billion. The company reported an adjusted EPS of $1.09, down from $1.92 a year ago and above the consensus $1.05.
For 2024, American now expects an adjusted EPS of $0.70 to $1.30 (prior $2.25 to $3.25) versus the consensus of $1.81. It expects 2024 operating margin of 3.5% to 5.5%.
Equities Trading UP
Equities Trading DOWN
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Commodities
In commodity news, oil traded up 0.7% to $78.13 while gold traded down 2.3% at $2,360.50.
Silver traded down 4.3% to $28.050 on Thursday, while copper rose 0.4% to $4.1245.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 fell 0.72%, Germany's DAX fell 0.48% and France's CAC 40 fell 1.15%. Spain's IBEX 35 Index fell 0.58%, while London's FTSE 100 rose 0.40%.
Bank lending to households in the Eurozone rose by 0.3% year-over-year to €6.879 trillion in June. The Ifo Business Climate indicator for Germany fell for a third straight month to a reading of 87 in July from 88.6 in June. The manufacturing climate indicator in France declined to 95.5 in July from 98.9 in the prior month.
Asia Pacific Markets
Asian markets closed lower on Thursday, with Japan's Nikkei 225 falling 3.28%, Hong Kong's Hang Seng Index falling 1.77%, China's Shanghai Composite Index declining 0.52% and India's S&P BSE Sensex declining 0.14%.
Imports to Hong Kong climbed 9% year-over-year to $429.2 billion, while exports from Hong Kong gained 10.7% to $373.5 billion in June. The People's Bank of China cut its one-year policy loan rate.
Economics
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