Gold Prices Rise as Science Applications International Reports Positive Earnings – ChargePoint Holdings (NYSE:CHPT)

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite gaining around 0.5% on Thursday.

The Dow traded down 0.36% to 40,828.19 while the NASDAQ rose 0.53% to 17,174.66. The S&P 500 also fell, dropping, 0.08% to 5,515.76.

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Leading and Lagging Sectors

Consumer discretionary shares climbed by 1.4% on Thursday. This upward trend in consumer discretionary shares could be reflective of increasing consumer confidence and spending, potentially signaling economic growth.

In trading on Thursday, health care shares fell by 1.2%. The decline in health care shares may be influenced by concerns over regulatory changes or shifts in healthcare policies impacting the sector’s profitability.

Top Headline

Science Applications International Corp SAIC reported upbeat earnings for its second quarter.

The company posted a 2% revenue growth year over year in the fiscal second quarter of 2025 to $1.82 billion, marginally beating the analyst consensus estimate of $1.79 billion. Adjusted EPS of $2.05 beat the analyst consensus of $1.86. The topline growth reflects a ramp-up in volume on existing and new contracts. This positive earnings report from SAIC could indicate strong performance in the defense and technology sectors.

Equities Trading UP
                       

• Eastside Distilling, Inc. EAST shares shot up 164% to $1.9980 following the disclosure of a merger agreement with Beeline Financial Holdings, Inc., a private mortgage technology firm. This merger agreement could signify a strategic move for Eastside Distilling to expand its offerings and market presence.
• Shares of Hoth Therapeutics, Inc. HOTH got a boost, surging 52% to $1.06 after the company announced data from the treatment of epidermal growth factor receptor inhibitor associated papulopustular eruptions with its novel therapeutic HT-001. This positive data release may have increased investor confidence in the company’s pipeline and future prospects.
• Applied Digital Corporation APLD shares were also up, gaining 70% to $5.50 after the company entered agreements for a $160 million private placement financing priced at market, from a group of institutional and accredited investors including NVIDIA and Related Companies. This funding agreement could provide Applied Digital Corporation with the necessary capital to drive growth and innovation in its industry.

Equities Trading DOWN

• Napco Security Technologies, Inc. NSSC shares dropped 19% to $35.01 after Fuzzy Panda Research issued a bearish report on the stock. The negative report from Fuzzy Panda Research may have led to a sell-off in Napco Security Technologies’ shares as investors reacted to the concerns raised.
• Shares of Qualigen Therapeutics, Inc. QLGN were down 16% to $0.1534 after the company announced a $3.46 million public offering of 14,724,058 shares at $0.13 per share and pre-funded warrants. This public offering may have put downward pressure on Qualigen Therapeutics’ stock price as dilution concerns weighed on investor sentiment.
• ChargePoint Holdings, Inc. CHPT was down, falling 17% to $1.3988 after the company reported worse-than-expected second-quarter revenue results. The disappointing revenue results from ChargePoint Holdings may have led to a bearish sentiment among investors, resulting in the stock price decline.

Commodities

In commodity news, oil traded down 0.5% to $68.89 while gold traded up 0.8% at $2,545.00.

Silver traded up 2% to $29.13 on Thursday, while copper rose 1.4% to $4.1375. The rise in precious metals like gold and silver could indicate a flight to safety among investors seeking to hedge against market uncertainties and inflationary pressures.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.54%, Germany’s DAX fell 0.08% and France’s CAC 40 fell 0.92%. Spain’s IBEX 35 Index rose 0.53%, while London’s FTSE 100 fell 0.34%.

Retail sales in the Eurozone rose by 0.1% from the previous month in July compared to a revised 0.4% decline in the earlier month. The HCOB Eurozone construction PMI came in unchanged at 41.4 in August. The S&P Global UK construction PMI declined to 53.6 in August compared to 55.3 in July. The mixed economic data from the Eurozone may suggest ongoing challenges in the region’s recovery and economic performance.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan’s Nikkei 225 falling 1.05%, Hong Kong’s Hang Seng Index falling 0.08%, China’s Shanghai Composite Index gaining 0.14% and India’s BSE Sensex falling 0.18%. This mixed performance in Asian markets could be influenced by global economic trends, regional geopolitical factors, and domestic economic indicators.

Average cash earnings in Japan rose by 3.6% year-over-year in July versus a 4.5% increase in the prior month. The moderation in earnings growth in Japan may indicate a slowdown in consumer spending or business profitability, which could impact the country’s economic recovery.

Economics

• U.S. private businesses added 99,000 workers to their payrolls in August compared to a revised 111,000 gain in July and versus market estimates of 145,000. The moderate job growth in U.S. private businesses may reflect ongoing labor market challenges and fluctuations in hiring demand across industries.
• U.S. initial jobless claims fell by 5,000 from the prior week to 227,000 in the week ending August 31, compared to market estimates of 230,000. The decline in initial jobless claims could suggest improved job market conditions or seasonal factors affecting unemployment filings.
• U.S. non-farm business sector labor productivity rose by 2.5% in the second quarter versus the preliminary estimate of 2.3% and compared to the 0.4% gain recorded in the first quarter. The increase in labor productivity may indicate improved efficiency and output levels in the non-farm business sector, potentially supporting economic growth.
• Unit labor costs in the nonfarm business sector rose by an annualized rate of 0.4% during the second quarter. The rise in unit labor costs could signal increased wage pressures or operational expenses for businesses, potentially impacting profit margins and inflationary trends.
• U.S. crude oil inventories fell by 6.9 million barrels during the final week of August, compared to market estimates of a 1.1 million barrel decline. The larger-than-expected decline in crude oil inventories may indicate strong demand or production constraints affecting the energy markets.

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