Nasdaq Gains Over 1%; Micron Posts Upbeat Q4 Results

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining over 1% on Thursday.

Following the market opening Thursday, the Dow traded up 0.65% to 42,187.74 while the NASDAQ rose 1.13% to 18,285.75. The S&P 500 also rose, gaining, 0.65% to 5,759.58.

Check This Out: How To Earn $500 A Month From Costco Stock Ahead Of Q4 Earnings

Leading and Lagging Sectors

Materials shares jumped by 1.5% on Thursday.

In trading on Thursday, energy shares fell by 1.4%.

Top Headline

Micron Technology Inc MU reported better-than-expected fourth-quarter financial results.

The company reported fourth-quarter revenue of $7.75 billion, beating the consensus estimate of $7.635 billion. The company reported fourth-quarter adjusted earnings of $1.18 per share, beating analyst estimates of $1.13 per share, according to Benzinga Pro

Equities Trading UP
                       

• Telesis Bio, Inc. TBIO shares shot up 102% to $4.68 after the company announced a partnership with Beckman Coulter Life Sciences to revolutionize DNA and mRNA synthesis.
• Shares of Pasithea Therapeutics Corp. KTTA got a boost, surging 75% to $6.80 after the company announced safety, tolerability, pharmacokinetic and preliminary efficacy data from the first 2 cohorts of patients in its Phase 1 clinical trial of PAS-004.
• Fangdd Network Group Ltd. DUO shares were also up, gaining 61% to $0.8210.

Equities Trading DOWN

• VS MEDIA Holdings Limited VSME shares dropped 30% to $1.0599 after jumping 22% on Wednesday.
• Shares of Ryde Group Ltd. RYDE were down 30% to $0.8038 after the company announced a $4.5 million public offering at $0.85 per unit.
• MDxHealth SA MDXH was down, falling 21% to $1.9999 after the company announced the pricing of a $40 million offering of 20 million shares at $2.00 per share

Commodities

In commodity news, oil traded down 2.4% to $68.00 while gold traded up 0.6% at $2,699.50.

Silver traded up 1.8% to $32.605 on Thursday, while copper rose 2.1% to $4.5845.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 1.2%, Germany's DAX climbed 1.4% and France's CAC 40 jumped 1.9%. Spain's IBEX 35 Index rose 1.4%, while London's FTSE 100 rose 0.3%.

Bank lending to households in the Eurozone increased by 0.6% year-over-year to €6.891 trillion in August compared to a 0.5% rise in the prior month. The GfK Consumer Climate Indicator for Germany climbed to a reading of -21.2 heading into October versus a revised reading of -21.9 in the prior period.

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 jumping 2.79%, Hong Kong's Hang Seng Index jumping 4.16%, China's Shanghai Composite Index gaining 3.61% and India's BSE Sensex gaining 0.78%.

Hong Kong’s trade deficit widened to $33.1 billion in August versus $25.6 billion in the year-ago month.

Economics

• U.S. core PCE prices increased by 2.8% from the prior quarter during the second quarter compared to a 3.7% gain in the previous period.
• U.S. durable goods orders came in mostly unchanged from the previous month in August versus the revised 9.8% jump in the earlier period.
• U.S. initial jobless claims fell by 4,000 from the prior week to 218,000 during the period ending September 21, compared to estimates of 225,000.
• The US economy expanded at an annualized rate of 3% during the second quarter versus a revised 1.6% increase in the first quarter.

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