U.S. stocks traded slightly higher this morning following the release of weekly jobless claims data on Thursday.
Following the market opening Thursday, the Dow traded up 0.06% to 34,084.20 while the NASDAQ rose 0.47% to 13,499.16. The S&P also rose, gaining, 0.27% to 4,369.43.
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Leading and Lagging Sectors
Energy shares climbed by 1.4% on Thursday. Meanwhile, top gainers in the sector included Ring Energy, Inc. REI, up 10% and Indonesia Energy Corporation Limited INDO up 13%.
In trading on Thursday, financials shares fell by 0.5%.
Top Headline
US initial jobless claims dropped by 15 thousand to 214 thousand in the week ended March 12th, recording the lowest level in 10 weeks. Analysts were expecting a reading of 220 thousand.
Equities Trading UP
Allego N.V. ALLG shares shot up 36% to $8.77. Spartan Acquisition Corp. III reported the completion of its business combination with Allego Holding B.V.
Shares of Eiger BioPharmaceuticals, Inc. EIGR got a boost, shooting 28% to $7.30 after the company reported a single dose of its Lambda for COVID 'significantly reduced the risk of COVID-19-related hospitalizations or emergency room visits greater than six hours by 50%.'
Imperial Petroleum Inc. IMPP shares were also up, gaining 29% to $2.6310 after dropping around 25% on Wednesday.
Equities Trading DOWN
MDJM Ltd MDJH shares tumbled 24% to $2.11.
Shares of Akanda Corp. AKAN were down 14% to $9.43. The company recently priced its IPO at $4 per share.
Integrated Media Technology Limited IMTE was down, falling 12% to $9.48. Integrated Media Technology issued a filing indicating the board approved the fund raising of up to $20 million.
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Commodities
In commodity news, oil traded up 5.1% to $99.89, while gold traded up 2% to $1,946.70.
Silver traded up 3.6% Thursday to $25.61 while copper rose 0.5% to $4.6240.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.2%, London’s FTSE 100 gained 0.6%, while Spain’s IBEX 35 Index fell 0.4%. The German DAX declined 1%, French CAC 40 fell 0.4% and Italy’s FTSE MIB Index fell 1.5%.
Annual inflation rate in the Eurozone increased to a fresh record high of 5.9% in February from 5.1% in the previous month. Spanish trade deficit widened to €6.1 billion in January from €1.8 billion in the year-ago month. Passenger car sales in the European Union fell 6.7% year-over-year to 719,465 in February.
Economics
Housing starts in the US rose 6.8% to an annualized rate of 1.769 million in February, while building permits slipped 1.9% last month.
US initial jobless claims dropped by 15 thousand to 214 thousand in the week ended March 12th, recording the lowest level in 10 weeks. Analysts were expecting a reading of 220 thousand.
The Philadelphia Fed Manufacturing Index climbed to 27.4 in March from 16 in February.
Industrial production in the US rose 0.5% from a month ago in February.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
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Check out the full economic calendar here
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 81,289,600 cases with around 994,730 deaths. India confirmed a total of at least 43,001,470 cases and 516,160 deaths, while Brazil reported over 29,478,030 COVID-19 cases with 656,000 deaths. In total, there were at least 464,650,630 cases of COVID-19 worldwide with more than 6,082,830 deaths.
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