U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 350 points on Thursday.

The Dow traded down 1.21% to 49,515.62 while the NASDAQ fell 1.55% to 22,709.08. The S&P 500 also fell, dropping, 1.18% to 6,859.69.

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Leading and Lagging Sectors

Utilities shares gained by 2.4% on Thursday.

In trading on Thursday, information technology stocks fell by 1.5%.

Top Headline

American Electric Power Company, Inc. (NASDAQ:AEP) shares gained around 5% on Thursday after the Ohio-based utility reported upbeat fourth-quarter results.

Adjusted earnings came in at $1.19 per share, down from $1.24 a year ago but exceeding the Street estimate of $1.15. Revenue stood at $5.314 billion, ahead of the $4.887 billion analyst consensus.

Equities Trading UP
           

• Cognex Corp (NASDAQ:CGNX) shares shot up 33% to $57.44 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates.
• Shares of Fastly Inc (NASDAQ:FSLY) got a boost, surging 62% to $15.08 after the company reported better-than-expected fourth-quarter financial results and issued FY26 guidance above estimates.
• Novocure Ltd (NASDAQ:NVCR) shares were also up, gaining 33% to $13.92 after the company announced FDA approval for Optune Pax.

Equities Trading DOWN

• ICON PLC (NASDAQ:ICLR) shares dropped 36% to $84.77 after the company announced its preliminary indication that its 2023 and 2024 revenue may have been overstated. Also, the company withdrew its 2025 financial guidance.
• Shares of Energy Vault Holdings Inc (NYSE:NRGV) were down 20% to $3.25 after the company announced a $150 million offering.
• BioRestorative Therapies Inc (NASDAQ:BRTX) was down, falling 46% to $0.22 after the company announced pricing of $5.0 million public offering.

Commodities

In commodity news, oil traded down 1.6% to $63.60 while gold traded down 0.1% at $5,097.40.

Silver traded down 1.4% to $82.745 on Thursday, while copper fell 0.4% to $5.9445.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 rose 0.16%, while Spain's IBEX 35 Index fell 0.63%. London's FTSE 100 slipped 0.15%, Germany's DAX gained 0.98% and France's CAC 40 rose 1.04% during the session.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei falling 0.02%, Hong Kong's Hang Seng Index falling 0.86%, China's Shanghai Composite gaining 0.05% and India's BSE Sensex declining 0.66%.

Economics

• U.S. initial jobless claims fell by 5,000 from the previous week to 227,000 in the first week of February, compared to market estimates of 222,000.
• U.S. natural-gas stocks dipped 249 billion cubic feet in the week ended Feb. 6, compared to market estimates of a 257 bcf decline.

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