Dow Jumps Over 100 Points; US Jobless Claims Increase To 221,000
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 0.34% to 39,259.15 while the NASDAQ rose 0.85% to 16,411.43. The S&P 500 also rose, gaining, 0.67% to 5,246.15.
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Leading and Lagging Sectors
Real estate shares jumped by 1.2% on Thursday.
In trading on Thursday, energy shares rose by just 0.2%.
Top Headline
U.S. initial jobless claims rose by 11,000 from the previous week’s revised reading to 221,000 on March, the most in two months.
Equities Trading UP
TC Biopharm (Holdings) Plc (NASDAQ:TCBP) shares shot up 118% to $2.85. TCBP announced execution of non-binding letter of intent for acquisition of NK Platform Technologies.
Shares of Allurion Technologies Inc. (NASDAQ:ALUR) got a boost, surging 61% to $2.78 after the company announced the commercial availability of its Virtual Care Suite in the United States. Also, Chardan Capital initiated coverage on the stock with a Buy rating and announced a $5 price target.
Tevogen Bio Holdings Inc. (NASDAQ:TVGN) shares were also up, gaining 55% to $3.96. Tevogen Bio, on Wednesday, appointed Tapan V Shah as Head of Investor Relations and Corporate Development.
Equities Trading DOWN
eFFECTOR Therapeutics, Inc. (NASDAQ:EFTR) shares dropped 83% to $2.76. The company announced topline results from the primary analysis of the randomized Phase 2 KICKSTART trial of tomivosertib combined with pembrolizumab in non-small cell lung cancer.
Shares of Keyarch Acquisition Corporation (NASDAQ:KYCH) were down 36% to $5.83.
KWESST Micro Systems Inc. (NASDAQ:KWE) was down, falling 29% to $0.8026 after the company announced a proposed US public offering.
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Commodities
In commodity news, oil traded down 0.3% to $85.16 while gold traded down 0.4% at $2,305.40.
Silver traded down 0.6% to $26.91 on Thursday, while copper rose 0.5% to $4.2155.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.3%, London’s FTSE 100 rose 0.6% while Spain’s IBEX 35 Index rose 0.6% The German DAX rose 0.2% French CAC 40 rose 0.1% while Italy’s FTSE MIB Index fell 0.1%.
Industrial producer prices in the eurozone fell by 1.0% from the prior month in February compared to a 0.9% decline in the prior month, while services PMI climbed to 51.5 in March versus 50.2 in the earlier month.
The HCOB France services PMI fell to 48.3 in March versus 48.4 a month ago, while German services PMI rose to 50.1 in March versus a preliminary reading of 49.8. The S&P Global UK services PMI fell to 53.1 in March versus 53.8 in the prior month.
Asia Pacific Markets
Asian markets closed higher on Thursday, with Japan’s Nikkei 225 gaining 0.81% and India’s S&P BSE Sensex rising 0.5%.
The HSBC Indian services PMI rose to 61.2 in March versus a preliminary reading of 60.3 and compared to a final reading of 60.6 in the prior month.
Economics
U.S. jobless claims rose by 11,000 from the previous week’s revised reading to 221,000 on March, the most in two months.
U.S. trade deficit increased to $68.9 billion in February versus a revised $67.6 billion gap in the previous month.
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