Stocks Rebound; Dow, S&P 500 Up, GameStop Surges, Crypto Slides
Stocks saw a modest recovery midday Thursday, reversing some of the earlier declines from the holiday week. Shortly after 12.10 pm ET, the $DJIA(.DJI)$
Jobless claims for the week ending Dec. 21 came in at 219,000, slightly below the 225,000 forecast, but continuing claims rose to 1.91 million, the highest since Nov. 2021. While the S&P 500 is up 0.1% this month and the Nasdaq has surged 4.2% on gains in $Tesla Motors(TSLA)$
$GameStop(GME)$
Shares of $Zoomcar Holdings (ZCAR.US)$ surged in pre-market trading Thursday after the company reported a 43% year-over-year increase in bookings for November 2024, fueled largely by heightened demand during the wedding season. Stocks are trading more than 82% higher shortly after midday ET Thursday.
$Color Star Technology (ADD.US)$ soared 94% to $4.20 in pre-market trading after announcing that a prominent member of the UAE's royal family has joined the company as an independent director. Shares fell back after the market opened Thursday, trading 44% higher shortly after midday ET.
$MicroStrategy (MSTR.US)$, often seen as a proxy for Bitcoin, fell roughly 3%, while $Coinbase (COIN.US)$, a major crypto services provider, slipped about 2%.
Shares of a $Starbucks (SBUX.US)$ rebounded slightly midday after news their strike to over 300 locations across 45 states concluded.
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