Gold Moves Higher; Roblox Issues Weak Outlook

U.S. stocks traded higher toward the end of trading, with the Dow Jones index jumping over 200 points on Thursday.

The Dow traded up 0.63% to 39,300.69 while the NASDAQ rose 0.18% to 16,331.58. The S&P 500 also rose, gaining, 0.32% to 5,204.48       .

Check This Out: Roblox, Beyond Meat And 3 Stocks To Watch Heading Into Thursday

Leading and Lagging Sectors

Real estate shares rose by 2% on Thursday.

In trading on Thursday, information technology shares fell by 0.3%.

Top Headline

Roblox Corp RBLX posted better-than-expected first-quarter financial results, but issued weak guidance.

Roblox reported fiscal first-quarter 2024 bookings growth of 19% year-on-year to $923.80 million, beating the analyst consensus estimate of $922.98 million. Adjusted EPS loss of 43 cents beat the analyst consensus loss estimate of 53 cents.

Roblox expects second-quarter bookings of $870 million—$900 million (versus the consensus of $934.09 million) and fiscal 2024 bookings of $4.00 billion—$4.10 billion (prior $4.14 billion—$4.28 billion) versus the consensus of $4.19 billion.

Equities Trading UP
                       

• Pop Culture Group Co., Ltd CPOP shares shot up 76% to $2.9650 after the company reported a year-over-year increase in H2 2023 revenue results.
• Shares of Sezzle Inc.  SEZL got a boost, surging 70% to $76.00 after the company reported a year-over-year increase in first-quarter financial results.
• Consensus Cloud Solutions, Inc. CCSI shares were also up, gaining 40% to $18.51 following better-than-expected first-quarter results.

Equities Trading DOWN

• Tivic Health Systems, Inc. TIVC shares dropped 58% to $0.5647 after the company reported pricing of $4 million public offering.
• Shares of EMCORE Corporation EMKR were down 63% to $1.08 after the company reported mixed second-quarter financial results and issued third-quarter revenue guidance below estimates.
• CytomX Therapeutics, Inc. CTMX was down, falling 44% to $2.34 after the company reported first-quarter financial results and announced initial data from the ongoing CX-904 Phase 1a dose escalation clinical study, demonstrating a favorable safety profile and confirmed anti-cancer activity.

Also Check This Out: Top 5 Tech Stocks That Could Lead To Your Biggest Gains This Month

Commodities

In commodity news, oil traded up 0.1% to $79.04 while gold traded up 0.8% at $2,340.30.

Silver traded up 2.8% to $28.38 on Thursday, while copper rose 1.1% to $4.5935.

Euro zone

European shares closed mostly higher today. The eurozone's STOXX 600 rose 0.19%, Germany's DAX rose 1.02% and France's CAC 40 gained 0.69%. Spain's IBEX 35 Index fell 0.92%, while London's FTSE 100 rose 0.33%.

The Bank of England held the key bank rate at 5.25% during its latest meeting.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei falling 0.34%, China's Composite Index gaining 1.22%, Hong Kong's Hang Seng Index gaining 0.83% and India's S&P BSE Sensex falling 1.4%.

The index of leading economic indicators in Japan fell to 111.4 in March 2024 versus a revised reading of 112.1 in the prior month, while index of coincident economic indicators climbed to 113.9 in March versus a final level of 111.5 a month ago.

Chinese trade surplus shrank to $72.35 billion in April from $86.46 billion in the year-ago period a year earlier. Imports to China rose by 8.4%, while exports from China gained 1.5% year-over-year in April.                  

Economics

• U.S. initial jobless claims increased by 22,000 to 231,000 on the week ending May 4, higher than market estimates of 210,000.
• U.S. natural-gas supplies increased 79 billion cubic feet during the week ended May 3, compared to market estimates of a 87 billion cubic feet gain.

Now Read This: Comstock And 2 Other Stocks Under $3 Insiders Are Buying