US Stocks Edge Higher; D.R. Horton Posts Upbeat Earnings
U.S. stocks traded higher this morning, with the Dow Jones index gaining around 40 points on Thursday.
Following the market opening Thursday, the Dow traded up 0.10% to 41,238.64 while the NASDAQ rose 0.22% to 18,036.66. The S&P 500 also rose, gaining, 0.21% to 5,600.18.
Check This Out: Top 3 Health Care Stocks Which Could Rescue Your Portfolio In July
Leading and Lagging Sectors
Industrials shares jumped by 0.6% on Thursday.
In trading on Thursday, health care shares fell by 0.4%.
Top Headline
D.R. Horton, Inc. (NYSE:DHI) reported better-than-expected second-quarter earnings on Thursday.
D.R. reported quarterly earnings of $4.10 per share which beat the analyst consensus estimate of $3.78 per share. The company reported quarterly sales of $9.966 billion which beat the analyst consensus estimate of $9.771 billion.
Equities Trading UP
- Onconetix, Inc. (NASDAQ:ONCO) shares shot up 85% to $0.2761. On July 15, Onconetix announced closing of warrant exercise for $1.11 million gross proceeds.
- Shares of Silo Pharma, Inc. (NASDAQ:SILO) got a boost, surging 66% to $3.74. Silo Pharma said it has entered into a Device and CMC Development Master Plan with Resyca BV, a medical technology provider.
- Chuy’s Holdings, Inc. (NASDAQ:CHUY) shares were also up, gaining 48% to $37.35 after Darden Restaurants announced it will acquire the company.
Equities Trading DOWN
- Agenus Inc. (NASDAQ:AGEN) shares dropped 54% to $8.17 after the company announced the FDA discouraged an accelerated approval pathway at the end-of-Phase 2 meeting.
- Shares of Leslie’s, Inc. (NASDAQ:LESL) were down 30% to $2.8699 after the company reported preliminary financial results for the third quarter and cut its full-year guidance. Multiple analysts also lowered price targets on the stock Thursday morning.
- Fitell Corporation (NASDAQ:FTEL) was down, falling 22% to $21.00.
Also Check This Out: Nvidia, Electronic Arts And 2 Other Stocks Insiders Are Selling
Commodities
In commodity news, oil traded down 0.3% to $82.60 while gold traded up 0.3% at $2,467.00.
Silver traded up 0.6% to $30.565 on Thursday, while copper fell 2.1% to $4.3175.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.6%, Germany's DAX rose 0.4% and France's CAC 40 rose 0.9%. Spain's IBEX 35 Index rose 0.9%, while London's FTSE 100 rose 0.8%.
Construction output in the Eurozone fell 2.4% year-over-year in May compared to a revised 1.5% decline in the prior month. Passenger car registrations in the European Union climbed 4.3% year-over-year to 1.1 million units in June.
Regular pay in the U.K., excluding bonus payment, rose 5.7% year-over-year to GBP 643/week during the three months to May, while the unemployment rate came in unchanged at 4.4% from March to May.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan's Nikkei 225 dipping 2.36%, Hong Kong's Hang Seng Index gaining 0.22%, China's Shanghai Composite Index gaining 0.48% and India's S&P BSE Sensex climbing 0.78%.
Hong Kong’s unemployment rate came in unchanged at 3% during the three months ending June. Japan reported a trade surplus of JPY 224.04 billion in June, compared to market views for a deficit of JPY 240 billion.
Economics
- U.S. initial jobless claims increased by 10,000 to 243,000 in the week ending July 13, compared to market estimates of 230,000.
- The Philadelphia Fed Manufacturing Index rose to 13.9 in July, recording the strongest level in three months, versus 1.3 in June.
Now Read This: