Red Letter Day, Unless Your Name is Meta | Wall Street Today

Just past 4 pm ET the $S&P 500 Index (.SPX.US)$ fell 1.37%, the $Dow Jones Industrial Average (.DJI.US)$ fell 1.21%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 2.30%.

Thursday, according to the Labor Department, Initial applications for US unemployment benefits jumped to 249,000 last week, the highest level in a year. Continuing claims, a number that is analogous to unemployment, rose to 1.88 million, the highest since 2021.

As industries tracked by moomoo go, Semiconductors were down a whopping 6.8%. $NVIDIA (NVDA.US)$ fell back 6%, $Taiwan Semiconductor (TSM.US)$ fell 4%. Semi's all took the lead from Arm and MobileEye earnings that sent expectations for semiconductors falling.

Commodities like $Crude Oil Futures(JAN5) (CLmain.US)$ fell back 1.28% after a 5% jump from tension in the Middle East. $Bitcoin (BTC.CC)$ fell to $64k, Gold fell, silver climbed while the U.S. 2-year fell and the U.S. 10-year fell to a low not felt since February.

$Meta Platforms (META.US)$ jumped 8% before returning to 4% after reporting earnings that rose to meet estimates Wednesday night; it was the highest gaining stock on the Nasdaq 100. The firm warned it would increase spending this year but posted record revenue of more than $29B.

$Moderna (MRNA.US)$ fell 21%, the lowest on the S&P 500 after the firm reported declining Covid vaccines. Its Q2 revenue was nearly $100M less than last year's Q2, with a net loss of $1.28B.

$Arm Holdings (ARM.US)$ fell 15% after the company's second-quarter financial outlook missed analysts' estimates. The company sees fiscal second-quarter revenue reaching $780 million to $830 million. The midpoint of that outlook is below the $806.2 million average of analyst estimates compiled by Bloomberg.

$Amazon (AMZN.US)$ fell about 3% aftermarket when the firm reported quarterly earnings of $1.26 per share, which beat estimates of $1.04/share. The firm's sales revenue came in at a nearly $780M miss, sending the stock down. The firm's sector performance did not match expectations. Amazon beat North American sales estimates, at $90B vs. $89B, but its international sales segment lacked.

$Apple (AAPL.US)$ reported record fiscal third-quarter revenue that beat analysts' estimates and better-than-expected earnings. Earnings for the three months ended June 29 rose 11% to $1.40 a share, compared with the average $1.35 of analyst estimates compiled by Bloomberg. Revenue gained 5% to $85.78 billion, better than the $84.46 billion expected by Wall Street.

$Intel (INTC.US)$ reported quarterly earnings of $0.02 per share, which missed the analyst consensus estimate of $0.10 by 80 percent. This is an 84.62 percent decrease over earnings of $0.13 per share from last year.

(To see these equities and more on the options page, click here.)