Crude Oil Gains Over 1%; Walgreens Posts Upbeat Earnings

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining over 100 points on Thursday.

The Dow traded up 0.82% to 43,335.29 while the NASDAQ gained 0.69% to 20,110.81. The S&P 500 also rose, gaining, 0.66% to 6,132.29.

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Leading and Lagging Sectors

Materials shares jumped by 0.9% on Thursday.

In trading on Thursday, real estate stocks fell by 1%.

Top Headline

Walgreens Boots Alliance Inc WBA on Thursday reported better-than-expected earnings for the third quarter on Thursday.

The company posted third-quarter sales of $38.99 billion, up 7.2% year over year (+6.9% on constant currency), beating the consensus of $36.84 billion, reflecting sales growth in the U.S. Retail Pharmacy and International segments. Adjusted EPS was 38 cents, down from 63 cents a year ago, beating the consensus of 34 cents, according to data from Benzinga Pro.

Walgreens Boots Alliance withdrew its 2025 guidance as part of the M&A deal with Sycamore Partners. The merger is expected to close in the fourth quarter of calendar year 2025.

Equities Trading UP

Cyngn Inc. CYN shares shot up 277% to $18.83 after the company announced it partnered with Nvidia to showcase its autonomous industrial vehicles at Automatica 2025.
Shares of Ascent Solar Technologies, Inc. ASTI got a boost, surging 113% to $2.4799 after the company entered into a collaborative agreement with NASA.
Worthington Steel, Inc. WS shares were also up, gaining 13% to $29.69 as the company reported stronger-than-expected financial results for the fourth quarter.

Equities Trading DOWN

Globavend Holdings Limited GVH shares dropped 74% to $0.1835 after the company announced the pricing of a $15 million offering of 21,739,130 shares at $0.69 per share.
Shares of Altimmune, Inc. ALT were down 56% to $3.4133 after the company announced topline results from the IMPACT Phase 2b trial of Pemvidutide in the treatment of MASH.
Reviva Pharmaceuticals Holdings, Inc. RVPH was down, falling 54% to $0.3502 after the company announced a $10 million public offering of 20 million shares and dual warrants at a combined price of $0.50 per share and accompanying warrants.

Commodities

In commodity news, oil traded up 1.3% to $65.79 while gold traded down 0.2% at $3,335.10.

Silver traded up 0.9% to $36.420 on Thursday, while copper rose 3% to $5.1200.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.01%, while Spain's IBEX 35 Index rose 0.03%. London's FTSE 100 rose 0.23%, Germany's DAX 40 gained 0.38% and France's CAC 40 slipped 0.11% during the session.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei gaining 1.65%, Hong Kong's Hang Seng Index falling 0.61%, China's Shanghai Composite falling 0.22% and India's BSE Sensex rising 1.21%.

Economics

The U.S. economy shrank at an annualized rate of 0.5% in the first quarter, compared to a 0.2% decline as per the second estimate.
U.S. initial jobless claims declined by 10,000 from the previous week to 236,000 in the week ended June 21.
U.S. durable goods orders climbed by 16.4% month-over-month to $343.6 billion in May compared to a revised 6.6% decline in April.
The U.S. trade deficit in goods increased to $96.6 billion in May from $87.0 billion in the previous month, and versus market estimates of an $88.5 billion gap.
The Chicago Fed National Activity Index rose to –0.28 in May compared to a revised reading of –0.36 in April.
U.S. wholesale inventories declined 0.3% month-over-month to $905.4 billion in May following a revised 0.1% gain in April.

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