Nasdaq Down 150 Points; Morgan Stanley Earnings Top Estimates

U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite falling over 150 points on Thursday.

The Dow traded down 0.27% to 43,106.65 while the NASDAQ fell 0.79% to 19,356.43. The S&P 500 also fell, dropping, 0.28% to 5,933.22.

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Leading and Lagging Sectors

Utilities shares surged by 2.3% on Thursday.

In trading on Thursday, consumer discretionary shares fell by 1.1%.

Top Headline

On Thursday, Morgan Stanley (NYSE:MS) reported upbeat earnings for its fourth quarter.

The bank posted fourth-quarter adjusted EPS of $2.22, up from $0.85 a year ago and beating the consensus of $1.70. Net earnings more than doubled from $1.52 billion to $3.7 billion.

The U.S. bank reported fourth-quarter revenue of $16.22 billion, up 26% year over year, beating the consensus of $15.03 billion.

Equities Trading UP
                       

• Biomerica, Inc. (NASDAQ:BMRA) shares shot up 102% to $0.6820 after the company announced its Fortel Prostate Specific Antigen Screening Test received approval from the United Arab Emirates Ministry of Health and Prevention.
• Shares of DouYu International Holdings Limited (NASDAQ:DOYU)got a boost, surging 26% to $15.53 as the company appointed Simin Ren as Co-CEO and declared a special cash dividend.
• Symbotic Inc. (NASDAQ:SYM) shares were also up, gaining 19% to $31.88 after the company disclosed a deal to acquire Walmart Inc.'s (NYSE:WMT) Advanced Systems and Robotics business.

Equities Trading DOWN

• Leafly Holdings, Inc. (NASDAQ:LFLY) shares dropped 45% to $0.8001 after the company announced it received a Nasdaq desliting notice and will transition to the over-the-counter market.
• Shares of Atara Biotherapeutics, Inc. (NASDAQ:ATRA) were down 34% to $8.70 after the company issued regulatory and business update on EBVALLOTM (tabelecleucel).
• Polestar Automotive Holding UK PLC (NASDAQ:PSNY) was down, falling 11% to $1.09 after the company reported preliminary third-quarter revenue of $551 million, down 10% year over year, citing lower volume and competitive market conditions.

Commodities

In commodity news, oil traded down 1.9% to $78.49 while gold traded up 1.4% at $2,755.10.

Silver traded up 1% to $31.860 on Thursday, while copper rose 1.1% to $4.4350.

Euro zone

European shares closed mostly higher today. The eurozone's STOXX 600 surged 0.98%, Germany's DAX 40 gained 0.39% and France's CAC 40 gained 2.14%. Spain's IBEX 35 Index fell 0.49%, while London's FTSE 100 gained 1.09%.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 0.33%, China's Shanghai Composite Index gaining 0.28%, Hong Kong's Hang Seng Index climbing 1.23% and India's BSE Sensex rising 0.42%.

Economics

• U.S. retail sales rose 0.4% month-over-month in December versus a revised 0.8% increase in the previous month and down from market estimates of 0.6%.
• U.S. initial jobless claims increased by 14,000 from the previous week to 217,000 in the week ending January 11, compared to market estimates of 210,000.
• Import prices increased by 0.1% from the previous month in December, while export prices gained by 0.3% in December.
• The Philadelphia Fed Manufacturing Index rose to 44.3 in January compared to a revised reading of -10.9 in the previous month.
• The NAHB/Wells Fargo Housing Market Index rose to 47 in January compared to 46 in the prior two months.
• U.S. business inventories increased by 0.1% month-over-month in November compared to a revised flat reading in the previous month.
• U.S. natural-gas stocks fell 258 billion cubic feet during the week ending Jan. 1, the EIA said.

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