Wall Street Today | Market Falls Thursday, But Tech Climbs

The market was climbing Thursday morning, but within two hours, the market fell after ADP nonfarm payrolls came in at a three-year low. Just the 4 pm close, the $S&P 500 Index (.SPX.US)$ traded fell 0.30%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.54%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.25%

According to Bloomberg, OPEC+ planned to increase oil supply starting in October to 180,000 barrels a day, and gradually stepping up further. However, Thursday the group delayed the hike due to concerns with global demand, pushing crude prices to their weakest levels in a year. $Crude Oil Futures(JAN5) (CLmain.US)$ finished at $69/barrel.

$Bitcoin (BTC.CC)$ fell to $56k. Gold and silver climbed while the $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ both fell.

$Tesla (TSLA.US)$ climbed 4% Thursday, the highest on the Nasdaq 100, after the firm said in a post it planned to launch self-driving assistance software in Europe and China in early 2025. The firm delayed its previous launch timeline this year and is awaiting regulatory approval.

$C3.ai (AI.US)$ stock fell as much as 18% intraday on Thursday, the lowest intraday price since early May 2023. The slide came after the company reported a 20% increase in subscription revenue growth to $87.2 million for the quarter that ended July 31. Analysts, on average, expected $79.1 million, according to estimates compiled by Bloomberg.

Shares for $JetBlue Airways (JBLU.US)$ rose after the airline bumped up its capacity and revenue guidance for the third quarter, crediting its raised views to favorable fuel prices and a lift in July bookings after technology outages caused cancellations for other carriers. Other airlines climbed on the news. $Frontier Group (ULCC.US)$ rose 6%, $Alaska Air (ALK.US)$ climbed 5%. $United Airlines (UAL.US)$ also climbed nearly 4%, one of the highest advancing on the S&P 500.

$Verizon (VZ.US)$ said it will acquire Frontier Communications in a $9.6 billion cash deal to boost the communication giant's fiber network. $Frontier Communications (FYBR.US)$ fell 9% on the news. Verizon said it would acquire the company for $38.50 a share, representing a 44% premium to its stock value.

Interested in Options? To see these stocks and more on the options page, click here. Want to learn more about options, check out moomoo education with this link. Click here to join our exclusive options chat with personal callouts from our resident expert, Invest with Sarge.