Dow Jumps Over 100 Points; Alcoa Profit Beats Estimates

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 100 points on Thursday.

Following the market opening Thursday, the Dow traded up 0.33% to 43,220.63 while the NASDAQ rose 0.46% to 18,451.67. The S&P 500 also rose, gaining, 0.34% to 5,862.20.

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Leading and Lagging Sectors

Information technology shares jumped by 1% on Thursday.

In trading on Thursday, real estate shares fell by 0.5%.

Top Headline

Alcoa Corporation AA reported better-than-expected earnings for the third quarter.

The company reported third quarter sales of $2.904 billion, missing the consensus of $2.967 billion. Adjusted EPS of 57 cents exceeded the consensus of 28 cents.

Equities Trading UP
                       

• Staffing 360 Solutions, Inc. STAF shares shot up 242% to $4.68.
• Shares of Nixxy, Inc. NIXX got a boost, surging 162% to $6.18 after the company provided updates on the business including its acquisition strategy in traditional markets and enhancing operations through technology and data analytics.
• Brera Holdings PLC BREA shares were also up, gaining 92% to $1.34.

Equities Trading DOWN

• Santech Holdings Limited STEC shares dropped 44% to $1.5207 after jumping around 647% on Wednesday.
• Shares of 180 Life Sciences Corp. ATNF were down 33% to $4.3262. 180 Life Sciences shares jumped 325% on Wednesday after the company announced it is planning to enter the online gaming industry with its newly acquired gaming technology platform.
• Fangdd Network Group Ltd DUO was down, falling 28% to $1.0308 after jumping 55% on Wednesday. Fangdd Network Group, last week, said it regained compliance status with the Nasdaq regarding its minimum bid price requirement.

Commodities

In commodity news, oil traded down 0.1% to $70.38 while gold traded up 0.3% at $2,699.20.

Silver traded down 0.2% to $31.90 on Thursday, while copper fell 1% to $4.3245.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 1%, Germany's DAX rose 1% and France's CAC 40 climbed 1.6%. Spain's IBEX 35 Index fell 0.3%, while London's FTSE 100 gained 0.6%.

The European Central Bank cut its three key interest rates by 25 bps in October. Annual inflation rate in the Eurozone fell to 1.7% in September versus initial estimates of 1.8% and compared to 2.2% in August.

Asia Pacific Markets

Asian markets closed lower on Thursday, with Japan's Nikkei 225 falling 0.69%, Hong Kong's Hang Seng Index falling 1.02%, China's Shanghai Composite Index dipping 1.05% and India's BSE Sensex falling 0.61%.

Economics

• Industrial production in the U.S. declined 0.3% from a month ago in September.
• U.S. initial jobless claims fell by 19,000 in the week ending Oct. 12.
• The Philadelphia Fed Manufacturing Index climbed to 10.3 in October compared to 1.7 in September and topping market estimates of 3.
• U.S. retail sales rose 0.4% month-over-month in September compared to a 0.1% increase in August and higher than market estimates of a 0.3% rise.

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