Gold Moves Higher; Roblox Issues Weak Outlook
U.S. stocks traded higher toward the end of trading, with the Dow Jones index jumping over 200 points on Thursday.
The Dow traded up 0.63% to 39,300.69 while the NASDAQ rose 0.18% to 16,331.58. The S&P 500 also rose, gaining, 0.32% to 5,204.48 .
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Leading and Lagging Sectors
Real estate shares rose by 2% on Thursday.
In trading on Thursday, information technology shares fell by 0.3%.
Top Headline
Roblox Corp (NYSE:RBLX) posted better-than-expected first-quarter financial results, but issued weak guidance.
Roblox reported fiscal first-quarter 2024 bookings growth of 19% year-on-year to $923.80 million, beating the analyst consensus estimate of $922.98 million. Adjusted EPS loss of 43 cents beat the analyst consensus loss estimate of 53 cents.
Roblox expects second-quarter bookings of $870 million—$900 million (versus the consensus of $934.09 million) and fiscal 2024 bookings of $4.00 billion—$4.10 billion (prior $4.14 billion—$4.28 billion) versus the consensus of $4.19 billion.
Equities Trading UP
- Pop Culture Group Co., Ltd (NASDAQ:CPOP) shares shot up 76% to $2.9650 after the company reported a year-over-year increase in H2 2023 revenue results.
- Shares of Sezzle Inc. (NASDAQ:SEZL) got a boost, surging 70% to $76.00 after the company reported a year-over-year increase in first-quarter financial results.
- Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) shares were also up, gaining 40% to $18.51 following better-than-expected first-quarter results.
Equities Trading DOWN
- Tivic Health Systems, Inc. (NASDAQ:TIVC) shares dropped 58% to $0.5647 after the company reported pricing of $4 million public offering.
- Shares of EMCORE Corporation (NASDAQ:EMKR) were down 63% to $1.08 after the company reported mixed second-quarter financial results and issued third-quarter revenue guidance below estimates.
- CytomX Therapeutics, Inc. (NASDAQ:CTMX) was down, falling 44% to $2.34 after the company reported first-quarter financial results and announced initial data from the ongoing CX-904 Phase 1a dose escalation clinical study, demonstrating a favorable safety profile and confirmed anti-cancer activity.
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Commodities
In commodity news, oil traded up 0.1% to $79.04 while gold traded up 0.8% at $2,340.30.
Silver traded up 2.8% to $28.38 on Thursday, while copper rose 1.1% to $4.5935.
Euro zone
European shares closed mostly higher today. The eurozone's STOXX 600 rose 0.19%, Germany's DAX rose 1.02% and France's CAC 40 gained 0.69%. Spain's IBEX 35 Index fell 0.92%, while London's FTSE 100 rose 0.33%.
The Bank of England held the key bank rate at 5.25% during its latest meeting.
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.
- U.S. natural-gas supplies increased 79 billion cubic feet during the week ended May 3, compared to market estimates of a 87 billion cubic feet gain.
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