US stocks traded slightly higher this morning, with the Nasdaq Composite gaining around 0.2% on Thursday.
After the opening of the market on Thursday, the Dow Jones rose 0.06% to 41,000.33, while the NASDAQ gained 0.22% to 17,121.18. The S&P 500 also rose, gaining 0.06% to 5,523.29.
Leading and lagging sectors
Consumer discretionary stocks rose 0.9% on Thursday.
In trading on Thursday, industrial stocks fell 0.6%.
Top News
U.S. initial jobless claims fell 5,000 from the previous week to 227,000 in the week ended Aug. 31, compared with market estimates of 230,000.
The stocks that gained the most
- The actions of Eastside Distilling, Inc. (NASDAQ:EAST) soared 212% to $2.39 after disclosing a merger agreement with Beeline Financial Holdings, Inc., a private mortgage technology firm.
- The actions of Hoth Therapeutics, Inc. (NASDAQ:HOTH) got a boost, rising 86% to $1.29 after the company announced data on treating epidermal growth factor receptor inhibitor associated with papulopustular eruptions with its new drug, HT-001.
- The actions of Applied Digital Corporation (NASDAQ:APLD) also rose, increasing 40% to $4.5399 after the company signed agreements for a $160 million market-priced private placement financing from a group of institutional and accredited investors, including NVIDIA and Related Companies.
The stocks that fell the most
- The actions of Singularity Future Technology Ltd. (NASDAQ:SGLY) plunged 29% to $4.76.
- The actions of Qualigen Therapeutics, Inc. (NASDAQ:QLGN) lost 20% to $0.1470 after the company announced a $3.46 million public offering of 14,724,058 shares at $0.13 per share and pre-funded warrants.
- Sify Technologies Limited (NASDAQ:SIFY) lost 22% to $0.5091.
Raw materials
In commodities news, oil rose 1% to $69.89, while gold gained 0.9% to $2,547.80.
Silver rose 1.9% to $29.105 on Thursday, while copper rose 0.9% to $4.1135.
Eurozone
European stocks were mixed today. The eurozone’s STOXX 600 fell 0.3%, Germany’s DAX rose 0.2% and France’s CAC 40 fell 0.5%. Spain’s IBEX 35 index rose 0.7%, while London’s FTSE 100 fell 0.1%.
Eurozone retail sales rose 0.1% from the previous month in July, compared with a downwardly revised 0.4% in the previous month. The eurozone HCOB construction PMI index was unchanged at 41.4 in August. The S&P Global UK construction PMI index fell to 53.6 in August, compared with 55.3 in July.
Asian markets
Asian markets closed mostly lower on Thursday, with Japan’s Nikkei 225 index down 1.05%, Hong Kong’s index falling 0.08%, the Shanghai Composite Index gaining 0.14% and India’s BSE Sensex falling 0.18%.
Average cash earnings in Japan rose 3.6% annually in July compared with a 4.5% increase in the previous month.
Economy
- U.S. private employers added 99,000 workers to their payrolls in August compared with a revised gain of 111,000 in July and compared with market estimates of 145,000.
- U.S. initial jobless claims fell 5,000 from the previous week to 227,000 in the week ended Aug. 31, compared with market estimates of 230,000.
- U.S. nonfarm business sector labor productivity rose 2.5% in the second quarter versus the preliminary estimate of 2.3% and compared with the 0.4% gain recorded in the first quarter.
- Unit labor costs in the nonfarm business sector rose at an annual rate of 0.4% during the second quarter.
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