Crude Oil Down Over 2%; US Initial Jobless Claims Fall

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining around 200 points on Thursday.

The Dow traded up 0.47% to 42,110.56 while the NASDAQ rose 0.19% to 18,117.40. The S&P 500 also rose, gaining, 0.21% to 5,734.09.

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Leading and Lagging Sectors

Materials shares jumped by 1.8% on Thursday.

In trading on Thursday, energy shares fell by 1.9%.

Top Headline

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.

Equities Trading UP
                       

• Telesis Bio, Inc. TBIO shares shot up 71% to $3.96 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 66% to $6.37 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.
• Adaptive Biotechnologies Corporation ADPT shares were also up, gaining 25% to $5.00.

Equities Trading DOWN

• Concentrix Corporation CNXC shares dropped 16% to $53.65 following mixed third-quarter financial results.
• Shares of Ryde Group Ltd. RYDE were down 30% to $0.81 after the company announced a $4.5 million public offering at $0.85 per unit.
• MDxHealth SA MDXH was down, falling 21% to $2.00 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 0.2% at $2,688.80.

Silver traded up 1.3% to $32.435 on Thursday, while copper rose 2.9% to $4.6195.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 1.13%, Germany's DAX climbed 1.52% and France's CAC 40 jumped 2.08%. Spain's IBEX 35 Index rose 1.39%, while London's FTSE 100 rose 0.12%.

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.
• Pending home sales in the U.S. rose by 0.6% from the prior month in August versus market estimates of a 0.3% increase.
• U.S. natural-gas stocks rose 47 billion cubic feet in the week ended Sept. 20, compared to market estimates of a 52 bcf gain.

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