Mid-Morning Market Update: US Markets Open Lower As Initial Jobless Claims Rise

U.S. stocks opened on a weak note this morning following the release of weekly jobless claims data.

Following the market opening Thursday, the Dow traded down 0.34% to 35,110.56 while the NASDAQ fell 0.45% to 14,377.17. The S&P also fell, dropping, 0.23% to 4,591.66.

Also check this: Alphabet And 3 Other Stocks Sold By Insiders


Leading and Lagging Sectors


Real estate shares jumped by 0.7% on Thursday.


In trading on Thursday, communication services shares fell 0.8%.


Top Headline


US initial jobless claims increased by 14 thousand to 202 thousand in the week ended March 26th. Analysts, meanwhile, were expecting a reading of 197 thousand.

 

Equities Trading UP


Longeveron Inc. LGVN shares shot up 35% to $9.07 after the company announced the publication of results from a Phase 1 trial testing Lomecel-B on patients with mild Alzheimer's disease in Alzheimer's & Dementia: The Journal of the Alzheimer's Association.


Shares of RCM Technologies, Inc. RCMT got a boost, shooting 22% to $ 10.43 after the company reported Q4 results.


Icosavax, Inc. ICVX shares were also up, gaining 27% to $6.78 following Q4 results.


Equities Trading DOWN

Oxbridge Re Holdings Limited OXBR shares tumbled 26% to $5.17 after the company reported results for the fourth quarter.


Shares of Clarus Therapeutics Holdings, Inc. CRXT were down 27% to $1.5104 after the company reported Q4 earnings results.


Motorsport Games Inc. MSGM was down, falling 24% to $1.5599 after the company reported Q4 financial results. Canaccord Genuity and Benchmark downgraded the stock.


Also check out: Executives Buy More Than $12M Of 3 Stocks


Commodities

In commodity news, oil traded down 3.6% to $103.96, while gold traded up 0.2% to $1,943.60.


Silver traded up 0.4% Thursday to $25.045 while copper rose 0.1% to $4.7530.



Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.3%, London’s FTSE 100 fell 0.3%, while Spain’s IBEX 35 Index fell 0.5%. The German DAX dropped 0.6%, French CAC 40 fell 0.7% and Italy’s FTSE MIB Index fell 0.2%.

 

Economics

 

US initial jobless claims increased by 14 thousand to 202 thousand in the week ended March 26th. Analysts, meanwhile, were expecting a reading of 197 thousand.


Personal income rose 0.5% from a month ago in February, while personal spending rose 0.2% month-over-month. The personal consumption expenditure price index surged 6.4% year-over-year in February.


The Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 10:30 a.m. ET.


The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.


Data on farm prices for February will be released at 3:00 p.m. ET.

 

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 81,686,620 cases with around 1,005,050 deaths. India confirmed a total of at least 43,023,210 cases and 521,130 deaths, while Brazil reported over 29,882,390 COVID-19 cases with 659,290 deaths. In total, there were at least 485,724,930 cases of COVID-19 worldwide with more than 6,158,100 deaths.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesGlobalIntraday UpdateMarketsMid-Morning Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!