U.S. stocks traded higher midway through trading, with the Dow Jones index jumping more than 500 points on Thursday.
The Dow traded up 1.25% to 42,023.61 while the NASDAQ rose 2.30% to 17,976.99. The S&P 500 also rose, gaining, 1.60% to 5,707.97.
Check This Out: Alphabet, McDonald’s And 2 Other Stocks Executives Are Selling
Leading and Lagging SectorsInformation technology shares jumped by 2.9% on Thursday.
In trading on Thursday, utilities shares fell by 0.6%.
Top Headline
FactSet Research Systems Inc (NYSE:FDS) reported better-than-expected results for its fiscal fourth quarter.
The company posted quarterly sales growth of 4.9% year-on-year to $562.2 million, beating the analyst consensus estimate of $546.81 million. Adjusted EPS of $3.74 beat the analyst consensus estimate of $3.62.
FactSet said it sees fiscal 2025 revenue of $2.285 billion–$2.305 billion versus $2.301 billion estimate and adjusted EPS of $16.80–$17.40 versus consensus of $17.36.
Equities Trading UP
- Edgewise Therapeutics, Inc. (NASDAQ:EWTX) shares shot up 37% to $26.23 after the company announced top-line data of EDG-7500 from the Phase 1 trial in healthy subjects and the single-dose arm of the Phase 2 CIRRUS-HCMtrial in patients with obstructive HCM.
- Shares of Signing Day Sports, Inc. (NYSE:SGN) got a boost, surging 257% to $0.4545 after the company announced it will acquire sports gaming technology company Swifty Global.
- Mobileye Global Inc. (NASDAQ:MBLY) shares were also up, gaining 16% to $13.51 after Intel reportedly said it does not have plans to divest a majority interest in the company.
Equities Trading DOWN
- Haoxi Health Technology Limited (NASDAQ:HAO) shares dropped 79% to $0.64. Haoxi Health Technology announced the pricing of a $12 million underwritten follow-on public offering of 4 million units at a price of $3 per unit.
- Shares of Progyny, Inc. (NASDAQ:PGNY) were down 30% to $17.21 after a client elected to exercise an option to terminate its services agreement with the company.
- Vivos Therapeutics, Inc. (NASDAQ:VVOS) was down, falling 25% to $3.10 after the company announced a $4.3 million registered offering of 1.36 million shares of common stock at $3.15 per share.
CommoditiesIn commodity news, oil traded up 1% to $71.64 while gold traded up 0.1% at $2,600.00.
Silver traded up 1.4% to $31.115 on Thursday, while copper rose 1.1% to $4.3445.
Euro zone
European shares were higher today. The eurozone's STOXX 600 climbed 1.35%, Germany's DAX climbed 1.66% and France's CAC 40 jumped 2.11%. Spain's IBEX 35 Index rose 0.50%, while London's FTSE 100 rose 0.85%.
The Bank of England maintained the Bank Rate at 5% during its September meeting, after cutting rates by 25 bps in August. The current account surplus in the Eurozone increased to €48 billion in July from €25.5 billion in the year-ago period.
Asia Pacific Markets
Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 2.13%, Hong Kong's Hang Seng Index surging 2%, China's Shanghai Composite Index gaining 0.69% and India's BSE Sensex gaining 0.29%.
Hong Kong's unemployment rate came in unchanged at 3% in the three months ending August. The Hong Kong Monetary Authority cut its base rate by 50bps to 5.25% at its recent meeting.
Economics
- The U.S. reported a current account deficit of $266.8 billion in the second quarter versus a gap of $241 billion in the prior period and higher than market estimates of a $260 billion gap.
- U.S. initial jobless claims fell by 12,000 from the prior week to 219,000 in the week ending September 14, compared to market expectations of 230,000.
- The Philadelphia Fed Manufacturing Index climbed to 1.7 in September from -7 in the previous month and topping market estimates of -1.
Now Read This:
- Top 3 Defensive Stocks You May Want To Dump In September
Comments