After initially moving to the downside, stocks have shown a lack of direction over the course of early trading on Thursday. The major averages have been bouncing back and forth across the unchanged line after ending the previous session in the red.
In response to growing public outrage over Mylan's implementation of sharp prices increases for its EpiPen emergency allergy treatment, the drugmaker said Thursday that it would lower the costs of the life-saving treatment for some patients.
Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform.
Donald Trump's son Eric defended the Republican presidential nominee's refusal to release his tax returns on Wednesday, declaring that such a move would be "foolish." Trump argued that releasing the returns would lead to assumptions by a bunch of people who know nothing about taxes.
After reporting a steep drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Thursday showing that durable goods orders rebounded by more than expected in the month of July. The Commerce Department said durable goods orders surged up by 4.4 percent.
First-time claims for U.S. unemployment benefits unexpectedly saw another modest decrease in the week ended August 20th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims edged down to 261,000.
Discount retailers Dollar Tree Inc. and Dollar General Corp. both reported results for the second quarter that missed analysts' expectations. Looking ahead, Dollar Tree also forecast revenue for the third quarter below analysts' estimates and lowered its full-year revenue outlook. Shares of both companies are falling in pre-market activity.
Stocks may move to the downside in early trading on Thursday, adding to the losses posted in the previous session. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 36 points.
Tiffany & Co. reported slight increase in second-quarter net profit on the absence of prior year's charge, while net sales and comparable sales were weak. Earnings per share topped analysts' estimates, while sales missed their view. Further, the company maintained its fiscal 2016 forecast, expecting lower results. In pre-market activity, shares were gaining 4.54 percent.
German business confidence dropped unexpectedly to a 6-month low in August and marked the biggest monthly fall in more than four years as companies assessed the current situation and future expectations more poorly after Britons voted to exit the EU. The business sentiment index dropped to 106.2 in August from 108.3 in July, results of the Ifo survey showed Thursday.
Trading in the U.S. index futures suggests that Wall Street stocks may open Thursday's session modestly lower, as traders stay guarded, given the nervousness over the trajectory of the Fed rate. Commodities are mostly higher and the dollar is weak. After Asian stocks closed lower, the European markets are seeing marked weakness.
The major European markets are trading lower by early afternoon trading on Thursday, although they have come off their early lows. Risk off mood prevails as traders await Fed Chair Janet Yellen's speech at the annual Jackson Hole symposium on Friday.
A new Nike ad, "Unlimited Pursuit," highlights the hard work and dedication of female Olympians it takes to be the best. The latest installment in the Nike "Unlimited" - Just Do It campaign features some of world's greatest athletes from Rio 2016 Olympics. Gymnasts Simone Biles and Gabby Douglas, tennis player Serena Williams and many others are shown in the 40-second clip.
Amazon.com on Wednesday announced the launch of Kindle Reading Fund, aiming to donate Kindle e-reader, Fire tablets, and Kindle eBooks globally to make books more easily available for digital reading. For this purpose, the company joining hands with local schools and libraries, hospitals, PTA as well as nonprofit organizations, mainly Worldreader.
The FDA has turned down Amgen Inc.'s (AMGN) Parsabiv, proposed for the treatment of secondary hyperparathyroidism in adult patients with chronic kidney disease on hemodialysis.