U.S. stocks traded lower toward the end of trading following the release of weekly jobless claims data.
The Dow traded down 0.52% to 35,043.99 while the NASDAQ fell 0.22% to 14,410.57. The S&P also fell, dropping, 0.38% to 4,585.08.
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Leading and Lagging Sectors
Utilities shares jumped by 0.5% on Wednesday. Meanwhile, top gainers in the sector included Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS), up 5% and Companhia Energética de Minas Gerais (NYSE:CIG) up 4%.
In trading on Wednesday, financials shares fell 1.2%.
Top Headline
US initial jobless claims increased by 14 thousand to 202 thousand in the week ended March 26th. Analysts, meanwhile, were expecting a reading of 197 thousand.
Equities Trading UP
Longeveron Inc. (NASDAQ:LGVN) shares shot up 87% to $12.59 after the company announced the publication of results from a Phase 1 trial testing Lomecel-B on patients with mild Alzheimer's disease in Alzheimer's & Dementia: The Journal of the Alzheimer's Association.
Shares of Creative Medical Technology Holdings, Inc. (NASDAQ:CELZ) got a boost, shooting 24% to $4.19 after the company announced it signed a Master Collaboration Agreement with the University of Miami to accelerate development of its ImmCelz Supercharged Autologous Immunotherapy Platform.
Icosavax, Inc. (NASDAQ:ICVX) shares were also up, gaining 25% to $6.67 following Q4 results.
Equities Trading DOWN
Rail Vision Ltd. (NASDAQ:RVSN) shares tumbled 33% to $2.7499 as the company priced its IPO at $4.13 per unit.
Shares of Clarus Therapeutics Holdings, Inc. (NASDAQ:CRXT) were down 29% to $1.47 after the company reported Q4 earnings results.
Motorsport Games Inc. (NASDAQ:MSGM) was down, falling 34% to $1.35 after the company reported Q4 financial results. Canaccord Genuity and Benchmark downgraded the stock.
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Commodities
In commodity news, oil traded down 6.7% to $100.65, while gold traded up 0.4% to $1,947.10.
Silver traded down 0.3% Thursday to $25.04 while copper fell 0.4% to $4.73.
Euro zone
European shares closed lower today. The eurozone’s STOXX 600 fell 0.94%, London’s FTSE 100 fell 0.83%, while Spain’s IBEX 35 Index fell 1.23%. The German DAX dropped 1.31%, French CAC 40 fell 1.21% and Italy’s FTSE MIB Index fell 1.1%.
Economics
US initial jobless claims increased by 14 thousand to 202 thousand in the week ended March 26th. Analysts, meanwhile, were expecting a reading of 197 thousand.
Personal income rose 0.5% from a month ago in February, while personal spending rose 0.2% month-over-month. The personal consumption expenditure price index surged 6.4% year-over-year in February.
The Chicago PMI for March is scheduled for release at 9:45 a.m. ET. After a slower-than-expected reading of 56.3 in February, analysts expect the Chicago PMI rising slightly to 57.0 in March.
US natural-gas supplies climbed 26 billion cubic feet last week, the Energy Information Administration said.
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 81,686,620 cases with around 1,005,050 deaths. India confirmed a total of at least 43,023,210 cases and 521,130 deaths, while Brazil reported over 29,882,390 COVID-19 cases with 659,290 deaths. In total, there were at least 485,724,930 cases of COVID-19 worldwide with more than 6,158,100 deaths.
