U.S. stocks traded higher this morning, with the Dow Jones gaining more than 150 points on Thursday.
Following the market opening Thursday, the Dow traded up 0.57% to 30,595.97 while the NASDAQ rose 0.52% to 10,735.61. The S&P 500 also rose, gaining, 0.26% to 3,704.67.
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Leading and Lagging Sectors
Communication services shares climbed 0.9% on Thursday. Leading the sector was strength from AT&T Inc. (NYSE:T) and Skillz Inc. (NYSE:SKLZ).
In trading on Thursday, consumer discretionary shares dipped 1.2%.
Top Headline
US initial jobless claims declined by 12,000 to 214,000 in the week ending October 15th, compared to market estimates of 230,000.
Equities Trading UP
- Super Micro Computer, Inc. (NASDAQ:SMCI) shares shot up 16% to $64.23 after the company raised Q1 net sales guidance and adjusted EPS guidance above estimates.
- Shares of Diebold Nixdorf, Incorporated (NYSE:DBD) got a boost, shooting 13% to $3.0250 after the company announced entry into an agreement with key financial stakeholders to support debt refinancing to address certain near-term maturities and provide $400 million in additional financing.
- Telos Corporation (NASDAQ:TLS) shares were also up, gaining 14% to $9.52. Needham maintained Telos with a Buy and raised the price target from $10 to $13.
Equities Trading DOWN
- Talaris Therapeutics, Inc. (NASDAQ:TALS) shares tumbled 48% to $1.26 after the company announced it received a report of a patient death, which triggered a pre-specified, temporary stopping requirement and review by the FREEDOM-1 Data Monitoring Committee.
- Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) were down 17% to $5.34 after the company reported mixed Q3 earnings results.
- Amprius Technologies, Inc. (NASDAQ:AMPX) was down, falling 14% to $9.52. Amprius Technologies recently announced it was awarded a $50 million cost-sharing grant from the U.S. Department of Energy's Office of Manufacturing and Energy Supply Chains.
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Commodities
In commodity news, oil traded up 1.9% to $87.17, while gold traded up 0.1% at $1,636.10.
Silver traded up 0.7% to $18.495 on Thursday while copper rose 2.5% to $3.4020.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 fell 0.3%, London’s FTSE 100 fell 0.2% while Spain’s IBEX 35 Index rose 0.4%. The German DAX dropped 0.2%, French CAC 40 rose 0.2% and Italy’s FTSE MIB Index gained 0.5%.
The Eurozone recorded a current account deficit of EUR 20.21 billion in August versus a year-ago surplus of EUR 21.05 billion. Producer prices in Germany rose by 2.3% from a month ago in September, versus a 7.9% increase in the prior month, while annual producer inflation in the country stood at 45.8% in September.
The manufacturing climate indicator in France climbed to 103 in October from a 1-1/2-year low level of 102 in the previous month. Construction output in Italy surged 9.7% year-over-year in August versus a revised 7% increase in the prior month.
Economics
- US initial jobless claims declined by 12,000 to 214,000 in the week ending October 15th, compared to market estimates of 230,000.
- The Philadelphia Fed Manufacturing Index rose 1 point to a reading of negative at -8.7 in October.
- Data on existing home sales for September will be released at 10:00 a.m. ET. Analysts expect existing home sales contracting to a 4.695 million annualized rate in September from 4.800 million in the previous month.
- The index of leading economic indicators for September is scheduled for release at 10:00 a.m. ET. Analysts expect the index declining 0.3% month-over-month in September.
- The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
- The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
- Philadelphia Fed President Patrick Harker is set to speak at 12:00 p.m. ET.
- Federal Reserve Governor Philip Jefferson will speak at 1:30 p.m. ET.
- Federal Reserve Governor Lisa Cook is set to speak at 1:45 p.m. ET.
- Federal Reserve Governor Michelle Bowman will speak at 2:05 p.m. ET.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 98,987,010 cases with around 1,092,030 deaths. India confirmed a total of at least 44,636,510 cases and 528,940 deaths, while France reported over 36,418,720 COVID-19 cases with 156,180 deaths. In total, there were at least 631,630,250 cases of COVID-19 worldwide with more than 6,577,340 deaths.
