U.S. stocks traded mostly higher this morning, with the Dow Jones gaining around 100 points on Thursday.
Following the market opening Thursday, the Dow traded up 0.30% to 38,923.18 while the NASDAQ rose 0.03% to 17,192.90. The S&P 500 also rose, gaining, 0.10% to 5,359.50.
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Leading and Lagging SectorsInformation technology shares rose by 0.4% on Thursday.
In trading on Thursday, real estate shares fell by 0.6%.
Top Headline
U.S. initial jobless claims rose by 8,000 to 229,000 in the week ending June 1, compared to market estimates of 220,000.
Equities Trading UP
- Virax Biolabs Group Limited (NASDAQ:VRAX) shares shot up 140% to $2.55.
- Shares of Latam Logistic Properties, S.A. (NYSE:LPA) got a boost, surging 105% to $65.00 after dipping around 83% on Wednesday.
- Freight Technologies, Inc. (NASDAQ:FRGT) shares were also up, gaining 97% to $1.2450 after the company said it added 26 new customers and 149 new carriers in 2024.
Equities Trading DOWN
- Actelis Networks, Inc. (NASDAQ:ASNS) shares dropped 38% to $2.3000 after the company announced an agreement for the immediate exercise of certain outstanding warrants for gross proceeds of $3 million.
- Shares of Jowell Global Ltd. (NASDAQ:JWEL) were down 30% to $1.56 after jumping over 98% on Wednesday.
- Moving iMage Technologies, Inc. (NYSE:MITQ) was down, falling 22% to $0.7850. Moving iMage Technologies was recently awarded a multi-million dollar contract.
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CommoditiesIn commodity news, oil traded up 0.7% to $74.56 while gold traded up 0.1% at $2,377.00.
Silver traded up 0.7% to $30.29 on Thursday, while copper rose 0.9% to $4.6460.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.5%, Germany's DAX gained 0.3% and France's CAC 40 rose 0.2%. Spain's IBEX 35 Index rose 0.4%, while London's FTSE 100 rose 0.3%.
The ECB cut the three key interest rates by 25 basis points, in line with market estimates. Retail sales in the Eurozone fell 0.5% month-over-month in April compared to revised 0.7% gain in March, while Eurozone construction PMI increased to 42.9 in May from 41.9 in the prior month.
The S&P Global UK construction PMI climbed to 54.7 in May, recording the highest level since May 2022, while The France construction PMI increased to 43.4 in May from 41.5 a month ago. Factory orders in Germany fell by 0.2% month-over-month for April.
Asia Pacific Markets
Asian markets closed mostly higher on Thursday, with Japan's Nikkei gaining 0.55%, China's Composite Index falling 0.54%, Hong Kong's Hang Seng Index gaining 0.28% and India's S&P BSE Sensex gaining 0.7%.
Australia’s trade surplus on goods increased to AUD 6.55 billion in April 2024 compared to a revised AUD 4.84 billion surplus in the prior month. Exports of goods from Australia fell 2.5% to a 28-month low level of AUD 43.32 billion in April, while imports of goods dipped by 7.2% to a three-month low level of AUD 36.77 billion.
Economics
- U.S. initial jobless claims rose by 8,000 to 229,000 in the week ending June 1, compared to market estimates of 220,000.
- The trade deficit in the U.S. increased to $74.6 billion in April versus a revised $68.6 billion gap in March.
- Unit labor costs in the nonfarm business sector rose by an annualized 4% in the first quarter compared to a revised 2.8% fall in the previous period.
- Nonfarm business sector labor productivity increased by 0.2% in the first quarter compared to preliminary reading of a 0.3% gain.
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