U.S. stocks traded mixed this morning, with the Dow Jones dropping around 150 points on Thursday.
Following the market opening Thursday, the Dow traded down 0.43% to 34,349.60 while the NASDAQ rose 0.37% to 13,940.29. The S&P also fell, dropping, 0.08% to 4,477.39.
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Top Headline
US initial jobless claims fell by 5 thousand to 166 thousand in the week ended April 2nd. However, analysts were expecting a reading of 200 thousand.
Equities Trading UP
Momentus Inc. (NASDAQ:MNTS) shares shot up 31% to $3.87 as the company signed multiple launch agreements with Space Exploration Technologies Corp. (SpaceX), a Tesla CEO Elon Musk-led company.
Shares of System1, Inc. (NYSE:SST) got a boost, shooting 26% to $25.16. The company on Monday reported Q4 and FY22 financials results.
Origin Agritech Limited (NASDAQ:SEED) shares were also up, gaining 25% to $9.12 after the company announced it has signed purchase agreements to sell two feedstock companies a total 50,000 metric tons of its corn for RMB150 million.
Equities Trading DOWN
Aptinyx Inc. (NASDAQ:APTX) shares tumbled 38% to $1.4450 after the company reported results from its Phase 2b study of NYX-2925 in painful diabetic peripheral neuropathy. The company reported NYX-2925 did not achieve the primary endpoint of the study.
Shares of Rite Aid Corporation (NYSE:RAD) were down 17% to $6.97 after Deutsche Bank downgraded the stock from Hold to Sell and lowered its price target from $16 to $1.
Advent Technologies Holdings, Inc. (NASDAQ:ADN) was down, falling 12% to $3.20. Advent Technologies recently announced a definitive agreement with Hyundai Motor Company to use fuel cell technology in delivering green energy solutions to current high carbon applications.
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Commodities
In commodity news, oil traded up 0.9% to $97.06, while gold traded up 0.5% to $1,931.80.
Silver traded down 0.1% Thursday to $24.425 while copper fell 1% to $4.6920.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.1%, London’s FTSE 100 fell 0.3%, while Spain’s IBEX 35 Index rose 0.7%. The German DAX gained 0.1%, French CAC 40 climbed 0.1% and Italy’s FTSE MIB Index climbed 0.6%.
Retail sales in the Eurozone rose 0.3% from a month ago in February following a 0.2% increase in January. Industrial production in Germany rose 0.2% from a month ago in February, versus a revised 1.4% increase in January.
The Halifax house price index in the UK rose 11% year-over-year in March, while labor productivity in the country rose 1.3% on quarter during the last three months of 2021.
Economics
US initial jobless claims fell by 5 thousand to 166 thousand in the week ended April 2nd. However, analysts were expecting a reading of 200 thousand.
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.
Federal Reserve Bank of Chicago President Charles Evans will speak at 2:00 p.m. ET.
Data on consumer credit for February will be released at 3:00 p.m. ET.
Federal Reserve Bank of New York President John Williams is set to speak at 4:05 p.m. ET.
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 81,950,240 cases with around 1,010,530 deaths. India confirmed a total of at least 43,031,950 cases and 521,560 deaths, while Brazil reported over 30,067,240 COVID-19 cases with 660,780 deaths. In total, there were at least 495,503,030 cases of COVID-19 worldwide with more than 6,192,340 deaths.
