U.S. stocks traded mostly higher this morning, following the release of PPI data.
Following the market opening Thursday, the Dow traded up 0.03% to 38,472.80 while the NASDAQ rose 0.40% to 16,234.94. The S&P 500 also rose, gaining, 0.17% to 5,169.21.
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Leading and Lagging Sectors
Real estate shares rose by 0.6% on Thursday.
In trading on Thursday, financial shares fell by 0.1%.
Top Headline
Producer prices in the U.S. rose 0.2% month-over-month in March compared to a 0.6% gain in February. However, analysts were expecting a gain of 0.3%.
Equities Trading UP
Rallybio Corporation RLYB shares shot up 95% to $3.1793 after the company announced a collaboration with Johnson & Johnson to advance therapeutics for pregnant individuals at risk of FNAIT.
Shares of Eliem Therapeutics, Inc. ELYM got a boost, surging 60% to $4.2747. The company announced that it entered into a definitive acquisition agreement to acquire Tenet and it also entered into a securities purchase agreement for a $120 million private placement.
Rent the Runway, Inc. RENT shares were also up, gaining 46% to $10.80 after the company reported mixed fourth-quarter financial results and issued guidance.
Equities Trading DOWN
Aptevo Therapeutics Inc. APVO shares dropped 57% to $1.0398 after the company priced its $4.6 million public offering.
Shares of Enlivex Therapeutics Ltd. ENLV were down 49% to $2.02. The company announced topline results of its Phase II trial evaluating Allocetra in sepsis.
ClearOne, Inc. CLRO was down, falling 10% to $0.98.
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Commodities
In commodity news, oil traded down 0.4% to $85.86 while gold traded up 0.4% at $2,358.80.
Silver traded up 0.4% to $28.15 on Wednesday, while copper fell 0.4% to $4.2660.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 rose 0.1%, London’s FTSE 100 fell 0.2% while Spain’s IBEX 35 Index fell 0.7% The German DAX fell 0.2% French CAC 40 rose 0.2% while Italy’s FTSE MIB Index fell 0.4%.
The European Central Bank kept interest rates unchanged for a fifth straight time during its April meeting.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 falling 0.35%, Hong Kong’s Hang Seng Index dropping 0.26%, China’s Shanghai Composite gaining 0.23% and India’s S&P BSE Sensex gaining 0.47%.
China's consumer prices rose 0.1% year-over-year in March, while producer prices fell by 2.8% year-over-year in March.
Economics
Producer prices in the U.S. rose 0.2% month-over-month in March compared to a 0.6% gain in February. However, analysts were expecting a gain of 0.3%.
U.S. initial jobless claims declined by 11,000 to 211,000 in the week ending April 6, compared to market estimates of 215,000.
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