Market Overview

Mid-Afternoon Market Update: Aemetis Falls Following Q3 Results; XPeng Shares Jump

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Toward the end of trading Thursday, the Dow traded down 1.24% to 29,034.44 while the NASDAQ fell 0.6% to 11,715.85. The S&P also fell, dropping 1.11% to 3,532.92.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 10,402,270 cases with around 241,800 deaths. India confirmed a total of at least 8,683,910 confirmed cases and 128,120 deaths, while Brazil reported over 5,747,660 COVID-19 cases with 163,360 deaths. In total, there were at least 52,208,440 cases of COVID-19 worldwide with over 1,285,700 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Communication services shares slipped by just 0.3% on Thursday. Meanwhile, top gainers in the sector included 9F Inc. (NASDAQ: JFU), up 10%, and Phoenix New Media Limited (NYSE: FENG), up 6%.

In trading on Thursday, energy shares tumbled by 2.4%.

Top Headline

TransDigm Group Incorporated (NYSE: TDG) reported better-than-expected results for its third quarter.

TransDigm posted quarterly earnings of $2.89 per share, exceeding analysts’ expectations of $1.98 per share. The company reported sales of $1.17 billion, surpassing estimates of $1.10 billion.

 

Equities Trading UP

EuroDry Ltd. (NASDAQ: EDRY) shares shot up 68% to $7.53 after the company swung to a profit in the third quarter.

Shares of IMAC Holdings, Inc. (NASDAQ: IMAC) got a boost, shooting 85% to $1.53 after the company reported the purchase of Lockwood Chiropractic in Webster Groves, Missouri and reported results for its third quarter .

XPeng Inc. (NYSE: XPEV) shares were also up, gaining 27% to $42.52 after the company reported Q3 results.

 

Equities Trading DOWN

Aemetis Inc (NASDAQ: AMTX) shares tumbled 40% to $2.1050 after the company reported weak results for its third quarter.

Shares of U.S. Energy Corp. (NASDAQ: USEG) were down 16% to $3.35 after the company reported pricing of $3 million public offering at $3 per share.

GoHealth, Inc. (NASDAQ: GOCO) was down, falling 16% to $11.15 after the company reported worse-than-expected Q3 sales.

 

Commodities

In commodity news, oil traded up 1.3% to $42.00, while gold traded up 1.1% to $1,881.40.

Silver traded up 0.8% Thursday to $24.455 while copper rose 0.5% to $3.15.

Euro zone

European shares closed lower today. The eurozone’s STOXX 600 fell 0.88%, the Spanish Ibex Index fell 0.87%, while Italy’s FTSE MIB Index declined 0.83%. Meanwhile, the German DAX 30 declined 1.24%, French CAC 40 dropped 1.52% and London’s FTSE 100 fell 0.68%.

Britain's GDP shrank by 9.6% year-over-year in the third quarter, versus a 21.5% contraction in the prior three-month period. However, the country’s industrial production rose 0.5% in September.

Economics

Annual inflation rate dropped to 1.2% in October from 1.4% in the prior month.

U.S. initial jobless claims fell to 709,000 in the week ended November 7, versus a revised reading of 757,000 in the previous week.

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

 

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