Surprise rate cuts by China’s central bank stoke worries about the world’s second largest economy, while a former Fed official’s call for an immediate easing rattled U.S. investors.
Orders down 6.6%, excluding volatile transportation up 0.5%
Stellantis posted a steep first-half drop in earnings that fell below forecasts as more cars sat at dealerships in the U.S., prompting the company to consider price cuts and reduce production.
The Japanese yen early Thursday strengthened more than 1% to below 152 per U.S. dollar for the first time since early May.
Hasbro’s second-quarter adjusted profit of $1.22 a share was well above the FactSet consensus estimate of 78 cents a share.
Shares of Dow Inc. dove toward an eight-month low Thursday, after the materials-science company missed on second-quarter earnings, citing continued weakness in the economy.
AbbVie on Thursday reported second-quarter sales and profit that beat expectations as newer immunology drugs delivered the rapid growth needed to offset plunging sales of blockbuster Humira.
Tractor Supply Co.’s stock fell 2.8% early Thursday, after the retailer, which is geared toward rural living, posted weaker-than-expected second-quarter sales and narrowed guidance to lower the top of its profit and sales ranges.
