US stocks turn lower
US non-farm payroll number in focus
US crude price drops 1.55%
US stocks turned lower into the close as the heat came off the earnings excitement ahead of a key jobs number tomorrow.
The Dow is down around eight at 22,008 but still holding above 22,000.
The Nasdaq is down 28 at 6,334 , while the S&P 500 is 7.22 lower at 2,490.
US crude is off 1.55% to US$48.82 a barrel.
In Toronto the TSX is 65 points lower at 15,200.
In companies, Seaworld Entertainment Inc (NYSE:SEAS) dipped 1.21% to $13.87 after brokerage FBR Capital downgraded the water park firm, citing weakness at its flagship San Diego park.
The shares have fallen 27% in the year to date.
Tesla (NASDAQ:TSLA) shares remained buoyant all day, up over 6% to US$346.52 after its quarterly results cheered the market.
MID-SESSION
US shares are not going one way or the other at mid-session ahead of the key job creation number tomorrow.
The US-non-farm payrolls for July will be published on Friday, giving investors an idea of the strength and trajectory of the economy.
The ADP private company report, seen as an indicator, today showed an increase of 178,000 jobs in July on a surge in service-related occupations and despite a decrease in manufacturing jobs, which was shy of Wall Street expectations for 185,000.
Analysts are forecasting that around 180,000 jobs were added to the last month, down from the 222,000 added in June.
The US unemployment rate is expected to remain at near 17-year lows at 4.3% - down from 4.4% in June.
Non-farm payrolls. What are they and why are they important? Learn more about #NFP here: https://t.co/6s2aYmeBXA pic.twitter.com/ktse4D7xeL
— IG (@IGcom) 3 August 2017
In the markets, the Dow Jones is up over 15 at 22,031, while the Nasdaq is down around the same amount to stand at 6,347.
The broader based S&P500 is down over four points at 2,473.
In companies, Windstream Holdings Inc (NASDAQ:WIN) shed over 31% to $2.54 as it posted a second quarter loss of $0.37 per share on revenue of $1.49bn. Windstream eliminated its quarterly dividend and announced a $90 million buyback plan.
CPI Card Group Inc (NASDAQ:PMTS) shares sank over 30% to $1.75 asit reported disappointing quarterly results and Barrington Research downgraded the firm to 'underperform' from 'market perform'.
Numerex Corp (NADSAQ:NMRX) fell over 10% as Sierra Wireless Inc (NASDAQ:SWIR), which fell over 19% to $23.60 announced plans to buy the firm at $29.65 per share.
READ THE UK CLOSE - FTSE 100 finishes 63 points up, boosted by weak sterling
OPEN
The Dow Jones started on the front foot in New York building on the 22,000 breach yesterday, but the other two benchmarks were lower.
In Toronto, the TSX index was up almost 25 at 15,290.
On Wall Street, the Dow Jones added over six at 22,022. The Nasdaq index lost over 15 at 6,346.
The broader -based S&P 500 was down around four at 2,472.
In London, FTSE 100 climbed 0.71% higher as the Central Bank there kept interest rates at 0.25% - on poor growth projections as the Brexit process unfolds.
US crude, or West Texas Intermediate, is up 0.20% to stand at $49.68 a barrel.
On the data front, US factory orders jumped 3% in June, the first gain after two consecutive monthly declines, official stats revealed.
In companies, food giant Kellogg's (NYSE:K) saw shares leap 3.84% higher at $70.03 as second quarter earnings and revenue beat market expectations.
During the quarter, net income was US$282.0mln, or 80 US cents per share, up from US$280.0mln, or 79 US cents per share, for the same period last year.
US insurance giant Aetna Inc (NYSE:AET) raised its 2017 forecasts after second quarter profit jumped 52%, supported by cost control measures and an improvement in its core businesses.
Shares rose 2.62% to $158.79 following the results.
Electric car firm Tesla (NASDAQ:TSLA), never far from the spotlight, also saw shares accelerate over 6% higher as its second quarter numbers impressed the market.
Nutritional supplement firm Herbalife Ltd (NYSE:HLF) on Thursday reported a 5% drop in second quarter sales to US$1.1bn, with earnings per share stated at US$1.61.
Herbalife, however, raised earnings guidance for the full year to US$3.80 to US$4.20, up from US$3.30 to US$3.70.
"With the successful implementation of tracking consumer retail transactions in the US, we are now entering into a new chapter for the company," said chief executive Rich Goudis.
Shares lost 0.37% to $64.98 in early deals.
US Factory Orders (M/M) Jul: 3.00% (est 3.00%; rev prev -0.30%)
-Factory Orders Ex-Transport (M/M) Jul: -0.20% (rev prev -0.10%)
— LiveSquawk (@LiveSquawk) 3 August 2017