Stock Market Today: Live Updates

The Nasdaq Composite Index rose at the start of trading on Thursday, rebounding from the previous day’s sell-off.

The technology-heavy index was up 0.5% just after 9:30 a.m. ET, following Wednesday’s worst day for the index since late 2022.

The S&P 500 rose 0.2%, while the Dow fell 0.2%.

Alex Harring

Initial claims for unemployment insurance surged last week, while continuing claims reached their highest level since the end of 2021, the Labor Department said Thursday.

Jobless claims for the week ending July 13 totaled 243,000, up 20,000 from the previous quarter and above the Dow Jones forecast of 229,000. The figure tied the highest record since Aug. 12, 2023.

Continuing jobless claims, which are released with a one-week lag, also increased by 20,000 to 1.867 million, the highest level since Nov. 27, 2021, and slightly above the FactSet forecast of 1.863 million.

In other economic news, the Philadelphia Fed’s manufacturing index unexpectedly rose to 13.9 in July, up 13 points from the previous month and beating expectations of 2.9. The figure measures the difference between companies reporting expansion and those reporting contraction.

—Jeff Cox

The European Central Bank left its key interest rate unchanged on Thursday, opting not to implement a 0.25 percentage point rate cut in June.

In a statement after the meeting, the ECB said inflation was little changed last month but price pressures “remain elevated” and were likely to remain above the ECB’s 2 percent target “well into next year”.

The bank’s prime deposit rate is 3.75%.

—Jeff Cox

Before the bell rings, let’s check out some of the hottest companies.

• Domino’s Pizza — Shares fell more than 13% after the company reported mixed second-quarter results. Domino’s posted earnings of $4.03 per share, beating LSEG’s estimate of $3.68 per share. However, revenue was in line with expectations at $1.1 billion. U.S. same-store sales growth also came in slightly below expectations.
• United Airlines — Shares rose 1.5% before the close after the airline reported a 23% rise in profits last quarter. However, United’s outlook for the current quarter was disappointing, with the airline now expecting adjusted earnings to be in the range of $2.75 to $3.25 per share. Analysts surveyed by LSEG were expecting earnings of $3.44 per share.
• Discover Financial Services — Shares rose 3.5% after the company reported better-than-expected second-quarter results. The banking and payments company posted earnings of $6.06 per share on revenue of $4.54 billion. Analysts surveyed by LSEG had expected earnings of $3.07 per share on revenue of $4.17 billion.

You can see the complete list here.

— Kim Hagyeong

Semiconductor funds rose in premarket trading on Thursday, aiming to recover after Wednesday’s sharp sell-off.

The VanEck Semiconductor ETF (SMH) and iShares Semiconductor ETF (SOXX) were both up about 1% before the close. Both stocks were down more than 7% on Wednesday, their worst performance since March 2020.

Despite Wednesday’s declines, the VanEck ETF is up more than 45% year to date, while the iShares fund is up more than 26%.

Alex Harring

Shares of pizza delivery company Domino’s fell more than 10% in morning trading after the company reported mixed second-quarter results.

Domino’s earnings per share of $4.03 beat LSEG’s estimate of $3.68 per share, but revenue of $1.1 billion was in line with expectations.

U.S. same-store sales, a key metric for restaurants and retailers, also grew slightly less than expected: Sales rose 4.8% for the quarter, while analysts surveyed by Street Accounts were expecting a 4.9% increase.

Taiwan Semiconductor’s U.S.-listed shares rose 0.7% in morning trading after the company reported better-than-expected second-quarter profit.

The company reported sales of NT$673.51 billion and net profit of NT$247.85 billion. Analysts surveyed by LSEG had expected sales of NT$657.58 billion and net profit of NT$238.8 billion.

CEO CC Wei pointed to strong demand for the company’s AI chips as a factor in the strong performance. “We’re trying hard to balance supply and demand, but we can’t. Right now, demand is so high, we’ve had to work hard to meet customer demand,” he said.

“Supply will remain tight all the way through 2025,” Wei warned, adding that the company hopes the supply squeeze will ease in 2026.

— Fred Imbert and Sheila Chan

The number of jobless claims for the week ending July 13 is due to be released Thursday morning. Economists surveyed by Dow Jones expect claims to reach 229,000, up from 222,000 the previous week.

Sarah Min

See which companies are garnering attention in after-hours trading.

• Discover Financial Services — Shares rose 2.7% after Discover Financial Services reported second-quarter results. The banking and payments company posted net interest income of $3.52 billion, beating the FactSet consensus estimate of $3.46 billion. Earnings per share of $6.06 beat analysts’ expectations of $3.10.
• Kinder Morgan — Kinder Morgan shares fell 2.8% after the company reported weaker-than-expected quarterly results. The pipeline operator reported second-quarter adjusted earnings of 25 cents a share, below the 26 cents a share expected by analysts surveyed by FactSet. Revenue also fell short of expectations.
• United Airlines — Shares were down slightly, 0.3%, after United Airlines reported mixed second-quarter results. The airline reported second-quarter adjusted earnings of $4.14 per share, beating the LSEG consensus estimate of $3.93 per share. However, revenue of $14.99 billion fell short of expectations of $15.06 billion.

See the complete list here.

Sarah Min

Stock futures opened higher Wednesday night.

Dow Jones Industrial Average futures rose 48 points, or 0.12%, while S&P 500 futures and Nasdaq 100 futures rose 0.15% and 0.27%, respectively.

Sarah Min