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Nasdaq Falls Over 100 Points; General Mills Earnings Top Views
Benzinga· 2025-09-17 16:11
U.S. Stock Market - U.S. stocks showed mixed performance, with the Dow up 0.68% to 46,068.31, while the Nasdaq fell 0.52% to 22,218.27 and the S&P 500 dropped 0.12% to 6,598.62 [1] - Consumer staples shares increased by 1.1%, while information technology stocks decreased by 0.7% [1] Company Earnings - General Mills, Inc. reported fiscal 2026 first-quarter results with adjusted earnings per share of 86 cents, exceeding analyst estimates of 81 cents, and revenue of $4.52 billion, slightly above projections of $4.51 billion [2] Commodity Market - Oil prices fell by 0.3% to $64.34, gold decreased by 0.3% to $3,714.60, silver dropped 1.4% to $42.335, and copper fell 1.4% to $4.6285 [5] European Market - European shares were mostly higher, with the eurozone's STOXX 600 rising 0.26%, Spain's IBEX 35 up 0.11%, London's FTSE 100 increasing by 0.48%, Germany's DAX 40 gaining 0.39%, and France's CAC 40 falling by 0.11% [6] Asian Market - Asian markets closed mostly higher, with Japan's Nikkei down 0.25%, Hong Kong's Hang Seng up 1.78%, China's Shanghai Composite rising 0.37%, and India's BSE Sensex gaining 0.38% [7] Notable Stock Movements - SciSparc Ltd. shares surged 197% to $5.42 following a merger motion, while Visionary Holdings Inc. shares increased 92% to $3.20 after a strategic partnership announcement [9] - New Fortress Energy Inc. shares rose 33% to $2.6650 after a long-term gas supply agreement with the Puerto Rican government [9] - Manchester United plc shares dropped 6% to $15.48 after mixed fourth-quarter financial results [9] - Paramount Group, Inc. shares fell 12% to $6.53 after an acquisition agreement at $6.60 per share [9] - QuantaSing Group Limited shares decreased 11% to $9.05 following weak quarterly earnings [9] U.S. Housing Market - U.S. housing starts decreased by 8.5% month-over-month to an annual rate of 1.307 million units in August, below market estimates of 1.37 million [11] - Building permits declined by 3.7% to an annualized rate of 1.312 million in August [11] - U.S. crude oil inventories fell by 9.285 million barrels, significantly exceeding market estimates for a 1.5-million-barrel decline [11]