US stocks opened slightly lower on Thursday as investors assessed another round of corporate earnings reports in the absence of fresh government data due to the ongoing shutdown. The S&P 500 slipped 0.1%, the Dow Jones Industrial Average was flat, and the Nasdaq composite declined 0.2% in early trade, AP reported.
Market sentiment was weighed down by mixed corporate results. DoorDash tumbled after warning it would increase product development spending significantly next year, while Rockwell Automation jumped after posting results that beat analyst forecasts.
In pre-market trading, futures for the S&P 500 and Nasdaq had edged up 0.2%, and Dow futures rose 0.1%, indicating muted optimism ahead of the open. Analysts said earnings remain the key driver for Wall Street as official macroeconomic data — including inflation and employment updates — remain suspended during the shutdown.
Lyft gained 6.2% after reporting stronger operational metrics despite missing sales and profit estimates. DoorDash’s third-quarter revenue topped expectations but profit fell short, with research and development costs rising 23% to $355 million.
In Europe, markets traded slightly lower after the Bank of England left its key interest rate unchanged at 4%. The FTSE 100 in London eased 0.1%, Germany’s DAX lost 0.3%, and France’s CAC 40 fell 0.6%.
Asian shares closed higher, rebounding from the previous day’s decline. Tokyo’s Nikkei 225 surged 1.3% to 50,883.68, while the Kospi in South Korea rose 0.6% and Taiwan’s Taiex gained 0.7%. Hong Kong’s Hang Seng jumped 2.1% and Shanghai’s Composite Index added 0.1%.
In Hong Kong, autonomous driving firms Pony.ai and WeRide saw weak debuts, with shares falling 9.3% and 10% respectively. Cathay Pacific Airways gained 4% after announcing a buyback of Qatar Airways’ 9.57% stake for $896 million, subject to shareholder approval.
Investors also looked to private economic data for cues on the health of the US economy. ADP’s employment report showed private payrolls rose more than expected in October, offering partial insight into a job market that has been losing momentum.
The Federal Reserve, which recently cut its benchmark rate for the second time this year, is balancing efforts to support growth with concerns that lower rates could stoke inflation.
In energy trading, US benchmark crude rose 50 cents to $60.10 a barrel, while Brent crude gained 44 cents to $63.96.
Market sentiment was weighed down by mixed corporate results. DoorDash tumbled after warning it would increase product development spending significantly next year, while Rockwell Automation jumped after posting results that beat analyst forecasts.
In pre-market trading, futures for the S&P 500 and Nasdaq had edged up 0.2%, and Dow futures rose 0.1%, indicating muted optimism ahead of the open. Analysts said earnings remain the key driver for Wall Street as official macroeconomic data — including inflation and employment updates — remain suspended during the shutdown.
Lyft gained 6.2% after reporting stronger operational metrics despite missing sales and profit estimates. DoorDash’s third-quarter revenue topped expectations but profit fell short, with research and development costs rising 23% to $355 million.
In Europe, markets traded slightly lower after the Bank of England left its key interest rate unchanged at 4%. The FTSE 100 in London eased 0.1%, Germany’s DAX lost 0.3%, and France’s CAC 40 fell 0.6%.
Asian shares closed higher, rebounding from the previous day’s decline. Tokyo’s Nikkei 225 surged 1.3% to 50,883.68, while the Kospi in South Korea rose 0.6% and Taiwan’s Taiex gained 0.7%. Hong Kong’s Hang Seng jumped 2.1% and Shanghai’s Composite Index added 0.1%.
In Hong Kong, autonomous driving firms Pony.ai and WeRide saw weak debuts, with shares falling 9.3% and 10% respectively. Cathay Pacific Airways gained 4% after announcing a buyback of Qatar Airways’ 9.57% stake for $896 million, subject to shareholder approval.
Investors also looked to private economic data for cues on the health of the US economy. ADP’s employment report showed private payrolls rose more than expected in October, offering partial insight into a job market that has been losing momentum.
The Federal Reserve, which recently cut its benchmark rate for the second time this year, is balancing efforts to support growth with concerns that lower rates could stoke inflation.
In energy trading, US benchmark crude rose 50 cents to $60.10 a barrel, while Brent crude gained 44 cents to $63.96.
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