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U.S. stocks turned lower toward the end of trading on Thursday, with the Dow Jones falling more than 200 points .
The Dow traded down 0.59% to 35,310.03 while the NASDAQ fell 0.44% to 14,064.61. The S&P 500, also fell, dropping, 0.53% to 4,542.71.
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McDonald's Corp (NYSE:MCD) reported better-than-expected second-quarter results.
McDonald's reported second-quarter FY23 sales growth of 13.6% year-on-year to $6.50 billion, beating the analyst consensus of $6.29 billion. Adjusted EPS of $3.17 beat the analyst consensus of $2.79.
McDonald's sees FY23 operating margin of 45%; Capital expenditure of $2.2 billion - $2.4 billion.
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In commodity news, oil traded up 1.8% to $80.17 while gold traded down 1.2% at $1,946.10.
Silver traded down 2.5% to $24.345 on Thursday while copper fell 0.9% to $3.8685.
European shares closed higher today. The eurozone’s STOXX 600 gained 1.35%, London’s FTSE 100 rose 0.21% while Spain’s IBEX 35 Index rose 0.98% The German DAX gained 1.7% French CAC 40 climbed 2.05% and Italy’s FTSE MIB Index jumped 2.13%.
The European Central Bank increased interest rates by 25 basis points. Germany's GfK Consumer Climate Indicator increased to -24.4 heading into August versus a revised reading of -25.2 in the previous month. Consumer confidence in Italy fell to 106.7 in July from 108.6 in the prior month, while manufacturing confidence index declined to 99.3 in July versus a revised 100.2 a month ago.
Spain's retail trade growth increased to 6.4% year-over-year in June versus a revised 6.1% in the prior month, while jobless rate declined to 11.6% in the second quarter from 13.3% in the prior three-month period. UK car production rose 16.2% year-over-year to 84,767 units in June.
Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 gaining 0.68%, China’s Shanghai Composite Index declining 0.20% and Hong Kong’s Hang Seng Index rising 1.41%. India’s S&P BSE Sensex, meanwhile, fell 0.7%.
The Hong Kong Monetary Authority (lifted the base rate by 25bps to 5.75%. Profits earned by Chinese industrial firms fell by 16.8% from a year ago to CNY 3,388.46 billion during the first six months of the year. Australia's import prices declined by 0.8% quarter-on-quarter in three months to June, while export prices fell by 8.5% on quarter.
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The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,498,920 cases with around 1,169,740 deaths. India confirmed a total of at least 44,995,390 cases and 531,910 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 692,169,020 cases of COVID-19 worldwide with more than 6,902,970 deaths.