Crude Oil Rises 2.8% to $97.77 as Stocks Trade Mixed
Oil rose 2.8% to $97.77. U.S. stocks were mixed midway through trading, with the Dow up 0.93%, the Nasdaq down 0.24% and the S&P 500 up 0.16%.
U.S. stocks were mixed midway through Thursday’s session. The Dow Jones Industrial Average rose more than 450 points, up 0.93% at 52102.07. The Nasdaq fell 0.24% to 26628.00, while the S&P 500 gained 0.16% to 7731.67.
Health care shares advanced 2.5% on Thursday, while energy stocks declined 1.5%. Charles Schwab Corp. (NYSE: SCHW) shares fell around 3% after the company reported mixed third-quarter results. Adjusted earnings were $1.69 per share, above the analyst consensus estimate of $1.66.
Revenue increased 17% year over year to a record 7.17 billion, compared with the consensus estimate of 7.19 billion. OPKO Health, Inc. (NASDAQ: OPK) shares surged 21% to 1.6550 after Labcorp agreed to acquire select assets of OPKO subsidiary BioReference Health for 722 million in cash, plus a potential 150 million earnout. Penske Automotive Group, Inc.
(NYSE: PAG) shares rose 8% to 211.18 after the company announced a 16.3 billion deal to go private. Wetour Robotics Limited (NASDAQ: WETO) shares gained 35% to 1.12 after the company Equities Trading DOWN ManpowerGroup Inc. (NYSE: MAN) shares fell 13% to $45.38 after the company reported third-quarter sales results that were worse than expected. FMC Corporation (NYSE: FMC) dropped 35% to $5.24 after lowering its third-quarter revenue guidance.
The company said commercial actions will lead to $625 million to $675 million in charges. Treasure Global Inc. (NASDAQ: TGL) declined 33% to $0.30 after announcing a $1.2 million private placement to board members. Commodities Oil gained 2.8% to $97.77, while gold rose 1.7% to $4,175.50.
Silver advanced 1.6% to $56.765 on Thursday, while copper fell 1.8% to $6.5385. Euro zone European shares were mixed today. The eurozone’s STOXX 600 slipped 0.2%, and Spain’s IBEX 35 Index lost 0.4%. London’s FTSE 100 rose 0.7%, Germany’s DAX slipped 0.4%, and France’s CAC 40 gained 0.1%.
Asia Pacific Markets Asian markets finished mostly lower on Thursday. Japan’s Nikkei 225 fell 4.90%, and Hong Kong’s Hang Seng Index declined 1.03%, while China’s The SSE Composite Index fell 1.59%, while India’s BSE Sensex advanced 2.11%. **Economics** U.S. producer prices rose 1.3% month over month in September, more than twice economists’ expected 0.5% increase, according to Bureau of Labor Statistics data released Thursday.
U.S. retail sales increased 0.8% month over month in September, following a revised 1.3% rise in August and exceeding market estimates for a 0.3% gain. The NY Empire State Manufacturing Index climbed to 25.5 in October from 7.6 the previous month, above market estimates of 10.3. The Philadelphia Fed Manufacturing Index fell to 20.9 in October from 37.8 the previous month, below market estimates of 28.4.
U.S. initial jobless claims increased by 1,000 to 199,000 in the week ending Oct. 10, compared with market expectations of 200,000. U.S.
business inventories rose 0.4% month over month in August, versus a revised 0.9% increase in July. U.S. crude inventories declined by 8.557 million barrels in the week ended Oct. 9, compared with market estimates for a 0.3 million-barrel draw.