Skip to main content

Market Overview

Mid-Morning Market Update: Markets Down; Accenture Misses Q4 Views


Following the market opening Thursday, the Dow traded down 0.33% to 26675.70 while the NASDAQ fell 0.31% to 10,600.44. The S&P also fell, dropping 0.27% to 3,228.02.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 6,935,410 cases with around 201,920 deaths. India confirmed a total of at least 5,732,510 confirmed cases and 91,140 deaths, while Brazil reported over 4,591,360 COVID-19 cases with 138,100 deaths. In total, there were at least 31,914,770 cases of COVID-19 worldwide with over 977,100 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Real estate shares rose 0.7% on Thursday. Meanwhile, top gainers in the sector included eXp World Holdings, Inc. (NASDAQ: EXPI), up 3%, and Clipper Realty Inc. (NYSE: CLPR), up 5%.

In trading on Thursday, energy shares tumbled 1.4%.

Top Headline

Accenture Plc (NYSE: ACN) reported weaker-than-expected results for its fourth quarter.

Accenture reported quarterly earnings of $1.70 per share, exceeding analysts’ estimates of $1.73 per share. The company reported sales of $10.84 billion, surpassing expectations of $10.91 billion.

Accenture said it expects Q1 sales of $11.15 billion to $11.55 billion, versus analysts’ estimates of $11.52 billion. The company projects FY21 revenue growth of 2%-5% and earnings of $7.80-$8.10 per share.


Equities Trading UP

The Peck Company Holdings, Inc. (NASDAQ: PECK) shares shot up 142% to $8.25. Peck and Sunworks previously entered a deal to merge. The stock traded more than 32 times its average daily volume on Wednesday.

Shares of Owens & Minor, Inc. (NYSE: OMI) got a boost, shooting 55% to $21.33 after the company raised its FY20 guidance.

Net Element, Inc. (NASDAQ: NETE) shares were also up, gaining 58% to $10.19 after Mullen Technologies, its M&A target, announced it will begin construction of an electric vehicle pilot facility and is accepting pre-orders for its MX-05 fully electric SUV starting Oct 1st.

Equities Trading DOWN

Kubient, Inc. (NASDAQ: KBNT) shares tumbled 27% to $2.8639 after the company reported wider Q2 loss.

Shares of Eros STX Global Corp. (NASDAQ: ESGC) were down 29% to $1.6062.

MICT, Inc. (NASDAQ: MICT) was down, falling 28% to $2.76 after declining 22% on Wednesday.


In commodity news, oil traded up 0.1% to $39.95, while gold traded down 0.4% to $1,861.40.

Silver traded down 3.3% Thursday to $22.350 while copper fell 1.4% to $2.9520.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 declined 0.3%, the Spanish Ibex Index rose 0.7%, while Italy’s FTSE MIB Index gained 0.8%. Meanwhile, the German DAX 30 climbed 0.3%, French CAC 40 rose 0.1% and London’s FTSE 100 slipped 0.3%.

France reported further improvement in its business confidence, with the country’s manufacturing industry climate indicator rising for the fifth month to 96 points in September versus a revised reading of 92 in August.


U.S. initial jobless claims increased by 4,000 to 870,000 in the week ended September 19.

US new home sales rose 4.8% to an annual rate of 1,011 thousand in August.

US natural-gas supplies rose 66 million cubic feet for the latest week, the Energy Information Administration reported.

The Kansas City Fed's manufacturing index for September will be released at 11:00 a.m. ET. The index is expected to decline to 13 in September from 14 in August.

The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.

Federal Reserve Bank of St. Louis President James Bullard is set to speak at 12:00 p.m. ET.

Federal Reserve Bank of Richmond President Thomas Barkin will speak at 1:00 p.m. ET.

Federal Reserve Bank of Chicago President Charles Evans is set to speak at 1:00 p.m. ET.

The Treasury is set to auction 7-year notes at 1:00 p.m. ET.

Federal Reserve Bank of New York President John Williams will speak at 2:00 p.m. ET.

Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 2:00 p.m. ET.

Federal Reserve Bank of Richmond President Thomas Barkin will speak at 2:00 p.m. ET.

Data on money supply for the recent week will be released at 4:30 p.m. ET.



Related Articles (ACN)

View Comments and Join the Discussion!

Posted-In: Earnings News Penny Stocks Eurozone Commodities Global Intraday Update Markets

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at