Nasdaq Down Over 200 Points; US Producer Inflation Rises to 5.4% In August

U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 200 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.30% to 52,223.08 while the NASDAQ dipped 0.94% to 26,005.96. The S&P 500 also fell, dropping, 0.58% to 7,592.06.

Leading and Lagging Sectors

Consumer staples shares jumped by 0.9% on Thursday.

In trading on Thursday, materials stocks fell by 1.4%.

Top Headline

U.S. producer prices rose 5.4% year-over-year in August, versus the 5.3% rate economists expected and accelerating from July’s 4.8% reading, according to Labor Department data released Thursday.

On a monthly basis, the headline producer price index (PPI) accelerated from July’s 0.1% to 0.4%, against a 0.3% consensus.

Equities Trading UP
           

• Tenon Medical Inc (NASDAQ:TNON) shares shot up 93% to $4.70 after the California-based medical device company disclosed it repaid its outstanding convertible notes early.
• Shares of Ambitions Enterprise Management Co LLC (NASDAQ:AHMA) got a boost, surging 57% to $2.01.
• Professional Diversity Network Inc (NASDAQ:IPDN) shares were also up, gaining 32% to $0.17.

Equities Trading DOWN

• CDT Equity Inc (NASDAQ:CDT) shares dropped 33% to $0.40.
• Shares of Megan Holdings Ltd (NASDAQ:MGN) were down 25% to $0.21. Megan Holdings announced a 1-for-30 share consolidation effective Sept. 17, superseding prior 1-for-40 plan.
• Navan Inc (NASDAQ:NAVN) was down, falling 20% to $20.70. Navan reported upbeat second-quarter fiscal 2027 results, raised its full-year outlook, and announced the acquisition of BoomPop.

Commodities

In commodity news, oil traded up 4% to $99.85 while gold traded down 1.4% at $4,396.80.

Silver traded down 5.2% to $65.070 on Thursday, while copper fell 4.5% to $6.5755.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 dipped 0.6%, while Spain’s IBEX 35 Index fell 0.1%, London’s FTSE 100 declined 0.4%, Germany’s DAX dipped 0.6%, while France’s CAC 40 slipped 0.4%.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 gaining 0.20%, Hong Kong’s Hang Seng index falling 1.27%, China’s Shanghai Composite falling 0.43% and India’s BSE Sensex gaining 0.19%.

Economics

• U.S. producer prices rose 5.4% year-over-year in August, versus the 5.3% rate economists expected and accelerating from July’s 4.8% reading, according to Labor Department data released Thursday.
• U.S. initial jobless claims fell by 1,000 to 206,000 in the first week of September, compared to market estimates of 205,000.

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