Wall Street had a bad day on Wednesday, and initial signs from Thursday morning suggested that further declines might be in store. The ongoing churning in the stock market is having a negative impact on investor sentiment, and short-term traders in particular are losing their nerve and looking for gains on the downside. As of 7:30 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 339 points to 31,101. S&P 500 (SNPINDEX: ^GSPC) futures dropped 44 points to 3,879, while Nasdaq Composite (NASDAQINDEX: ^IXIC) futures were lower by 140 points to 11,795.
Amid that tough market environment, it might be surprising to see a stock racing to all-time highs. However, that was the case for Chile's Sociedad Química y Minera (NYSE: SQM) on Wednesday, and the stock rose further on Thursday morning after the company reported extremely strong financial performance. Given the company's impact on a key high-growth sector of the industrial economy, it's not surprising to see this materials provider doing so well. You'll find the details on the Chilean resources company's latest results below.
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This Stock Is Hitting New Highs Even as the Market Sinks Again