U.S. stocks traded lower this morning, with the Dow Jones dropping around 100 points on Thursday.
Following the market opening Thursday, the Dow traded down 0.32% to 30,088.03 while the NASDAQ fell 0.89% to 11,120.70. The S&P 500 also fell, dropping, 0.57% to 3,768.14.
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Leading and Lagging Sectors
Energy shares rose by 0.5% on Thursday. Meanwhile, top gainers in the sector included BP Prudhoe Bay Royalty Trust (NYSE:BPT), up 3% and PBF Energy Inc. (NYSE:PBF) up 6%.
In trading on Thursday, consumer discretionary shares fell by 1.5%.
Top Headline
US initial jobless claims increased by 5,000 to 213,000 in the week ended September 17th, compared to market estimates of 218,000.
Equities Trading UP
- ShiftPixy, Inc. (NASDAQ:PIXY) shares shot up 31% to $17.84. ShiftPixy, on Wednesday, announced pricing of $5 million private placement.
- Shares of Albireo Pharma, Inc. (NASDAQ:ALBO) got a boost, shooting 13% to $19.64. Albireo announced $115M royalty monetization agreement with Sagard.
- Virax Biolabs Group Limited (NASDAQ:VRAX) shares were also up, gaining 12% to $3.39 after the company announced it has entered into a distribution agreement to market Monkeypox Virus Real-Time PCR Detection Kits with Cosmos Holdings.
Equities Trading DOWN
- BYND Cannasoft Enterprises Inc. (NASDAQ:BCAN) shares tumbled 20% to $3.53. The company on Monday announced it has signed a share purchase agreement to acquire 100% ownership of Zigi Carmel Initiatives & Investments for $28 million in stock.
- Shares of Nauticus Robotics, Inc. (NASDAQ:KITT) were down 17% to $5.29. Schlumberger B.V. recently disclosed 15.5% passive stake in Nauticus Robotics.
- Steakholder Foods Ltd. (NASDAQ:STKH) was down, falling 15% to $2.15.
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Commodities
In commodity news, oil traded up 0.5% to $83.31, while gold traded up 0.4% at $1,681.50.
Silver traded up 0.5% to $19.57 on Thursday while copper rose 0.4% to $3.4810.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 1.6%, London’s FTSE 100 fell 0.8% while Spain’s IBEX 35 Index fell 1%. The German DAX dropped 1.6%, French CAC 40 fell 1.5% and Italy’s FTSE MIB Index fell 0.8%.
The manufacturing climate indicator in France declined for a third month to a reading of 102 in September from a revised 103 in August. The consumer confidence indicator in the Eurozone declined by 3.8 points to -28.8 in September. The Bank of England increased its key interest rate by 50bps to 2.25% during its September meeting.
Economics
- US initial jobless claims increased by 5,000 to 213,000 in the week ended September 17th, compared to market estimates of 218,000.
- The US current account deficit shrank to $251.1 billion in the second quarter, following a record gap of $282.5 billion in the first quarter.
- 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 Kansas City Fed manufacturing index for September will be released at 11:00 a.m. ET. Analysts expect the Kansas City manufacturing index declining slightly to plus 2 in September after slowing by 10 points to a reading of plus 3 in August.
- The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 97,721,710 cases with around 1,080,350 deaths. India confirmed a total of at least 44,553,040 cases and 528,420 deaths, while France reported over 35,011,660 COVID-19 cases with 154,820 deaths. In total, there were at least 618,773,810 cases of COVID-19 worldwide with more than 6,535,010 deaths.
