U.S. stocks traded mixed this morning, with the Dow Jones index falling around 20 points on Thursday.
Following the market opening Thursday, the Dow traded down 0.05% to 39,035.64 while the NASDAQ rose 0.14% to 16,326.18. The S&P 500 also fell, dropping, 0.07% to 5,191.38.
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Leading and Lagging Sectors
Real estate shares rose by 1.4% on Thursday.
In trading on Thursday, financial shares fell by 0.2%.
Top Headline
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.
Equities Trading UP
- Pop Culture Group Co., Ltd CPOP shares shot up 140% to $4.07 after the company reported a year-over-year increase in H2 2023 revenue results.
- Shares of Sezzle Inc. SEZL got a boost, surging 55% to $69.53 after the company reported a year-over-year increase in first-quarter financial results.
- Embecta Corp. EMBC shares were also up, gaining 41% to $14.52 after the company reported upbeat second-quarter results and raised FY24 guidance.
Equities Trading DOWN
- Tivic Health Systems, Inc. TIVC shares dropped 61% to $0.5251 after the company reported pricing of $4 million public offering.
- Shares of EMCORE Corporation EMKR were down 54% to $1.35 after the company reported mixed second-quarter financial results and issued third-quarter revenue guidance below estimates.
- Cardlytics, Inc. CDLX was down, falling 43% to $8.33 after the company reported mixed first-quarter financial results and issued second-quarter revenue guidance with its midpoint below estimates. Also, Needham maintained a Buy rating on the stock and lowered its price target from $17 to $12.
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Commodities
In commodity news, oil traded up 0.6% to $79.44 while gold traded up 0.2% at $2,327.50.
Silver traded up 1.3% to $27.965 on Thursday, while copper fell 0.1% to $4.5420.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.1%, Germany's DAX rose 0.8% and France's CAC 40 gained 0.3%. Spain's IBEX 35 Index fell 1.1%, while London's FTSE 100 rose 0.2%.
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.
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