Gold Gains 1%; Williams-Sonoma Posts Upbeat Earnings

U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling over 100 points on Thursday.

The Dow traded down 0.39% to 34,853.42 while the NASDAQ fell 0.11% to 14,087.96. The S&P 500 also fell, dropping, 0.09% to 4,498.85.

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Leading and Lagging Sectors

Utilities shares surged by 1% on Thursday.

In trading on Thursday, energy shares fell by 2.2%.

Top Headline

Williams-Sonoma, Inc. WSM reported better-than-expected third-quarter adjusted earnings.

Williams-Sonoma posted non-GAAP earnings of $3.66 per share, versus market estimates of $3.35 per share. The company’s quarterly sales came in at $1.854 billion versus expectations of $1.957 billion.

Equities Trading UP

Sonos, Inc. SONO shares shot up 18% to $13.37 following upbeat fourth-quarter results.

Shares of WaveDancer, Inc. WAVD got a boost, shooting 68% to $2.53 after the company inked a definitive merger agreement with Firefly Neuroscience in an all-stock transaction.

Universal Technical Institute, Inc. UTI shares were also up, gaining 14% to $11.06 following strong quarterly sales.

Equities Trading DOWN

Volcon, Inc. VLCN shares dropped 64% to $0.2364 after the company announced pricing of $18 million underwritten public offering.

Shares of The Children's Place, Inc. PLCE were down 29% to $20.39 following weak quarterly earnings.

Homology Medicines, Inc. FIXX was down, falling 38% to $0.5463. Q32 Bio and Homology Medicines have agreed to combine in an all-stock transaction.

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Commodities

In commodity news, oil traded down 5.7% to $72.31 while gold traded up 1.2% at $1,987.80.

Silver traded up 1.7% to $23.935 on Thursday while copper fell 0.4% to $3.7050.

Euro zone

European shares closed mostly lower today. The eurozone’s STOXX 600 fell 0.72%, London’s FTSE 100 fell 1.01% while Spain’s IBEX 35 Index rose 0.28% The German DAX rose 0.24% French CAC 40 fell 0.57%, while Italy’s FTSE MIB Index fell 0.71%.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan’s Nikkei 225 falling 0.28%, Hong Kong’s Hang Seng Index falling 1.36% and China’s Shanghai Composite Index declining 0.71%. India’s S&P BSE Sensex, meanwhile, rose 0.5%.

Hong Kong’s unemployment rate rose to 2.9% in the three months ending October, while China's new home prices fell by 0.1% year-over-year during October. Japan's core machinery orders climbed 1.4% month-over-month in September. Japan's trade deficit shrank to JPY 662.55 billion in October from JPY 2,205,94 billion in the year-ago month.

Economics

U.S. initial jobless claims climbed by 13,000 to 231,000 in the week ending Nov. 11, the highest in around three months, and compared to market estimates of 220,000.

Export prices in the U.S. declined 1.1% month-over-month, while import prices fell by 0.8% month-over-month in October.

The Philadelphia Fed Manufacturing Index rose 3.1 points to a reading of -5.9 in November, compared to market estimates of -9.

Industrial production in the U.S. declined 0.6% month-over-month in October.

The NAHB/Wells Fargo Housing Market Index fell by 6 points to a reading of 34 in November.

U.S. natural-gas supplies climbed 60 billion cubic feet for the week ended Nov. 10.

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