Nasdaq Down Over 100 Points; US Initial Jobless Claims Fall - Auddia (NASDAQ:AUUD), Dermata Therapeutics

U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 100 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.41% to 42,278.67 while the NASDAQ fell 0.72% to 17,769.32. The S&P 500 also fell, dropping, 0.56% to 5,680.29.

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Leading and Lagging Sectors

Consumer staples shares jumped by 0.4% on Thursday.

In trading on Thursday, information technology shares fell by 1.2%.

Top Headline

U.S. initial jobless claims fell by 1,000 to 224,000 in the week ending March 22, compared to market estimates of 225,000.

Equities Trading UP

Lytus Technologies Holdings PTV. Ltd. (NASDAQ:LYT) shares shot up 145% to $0.1527.
Shares of Greenland Technologies Holding Corporation (NASDAQ:GTEC)got a boost, surging 60% to $2.07 after the company reported a year-over-year increase in FY24 EPS results.
Dermata Therapeutics, Inc. (NASDAQ:DRMA) shares were also up, gaining 49% to $2.0150 after the company announced topline results from its Phase 3 trial of XYNGARI, which achieved its primary endpoints.

Equities Trading DOWN

Nxu, Inc. (NASDAQ:NXU) shares dropped 40% to $0.1591 after the company announced a 1-for-20 reverse stock split.
Shares of Equillium, Inc. (NASDAQ:EQ) were down 38% to $0.4678 after the company announced the results of the Phase 3 EQUATOR study of Itolizumab, which showed that it did not improve complete or overall response rates.
Auddia Inc. (NASDAQ:AUUD) was down, falling 33% to $0.2250 after the company announced a 1-for-17 reverse stock split.

Commodities

In commodity news, oil traded down 0.3% to $69.41 while gold traded up 0.9% at $3,048.90.

Silver traded up 1% to $34.555 on Thursday, while copper fell 2% to $5.1410.

Euro zone

European shares were lower today. The eurozone's STOXX 600 dipping 0.84%, Germany's DAX 40 fell 1.2% and France's CAC 40 dipped 0.7%. Spain's IBEX 35 Index fell 0.14%, while London's FTSE 100 fell 0.8%.

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 falling 0.60%, China's Shanghai Composite Index gaining 0.15%, Hong Kong's Hang Seng Index rising 0.41% and India's BSE Sensex rising 0.41%.

Economics

U.S. initial jobless claims fell by 1,000 to 224,000 in the week ending March 22, compared to market estimates of 225,000.
The U.S. economy grew by an annualized rate of 2.4% in the fourth quarter, up from 2.3% in the prior estimates.
U.S. wholesale inventories increased by 0.3% month-over-month to $903 billion in February compared to a 0.8% gain in the prior month.
The U.S. trade deficit in goods shrank to $147.91 billion in February from a revised record level of $155.6 billion in the prior month.

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AUUDAuddia Inc

$1.46-8.75%

Overview

DRMADermata Therapeutics Inc

$1.18-%

EQEquillium Inc

$1.76-0.21%

GTECGreenland Technologies Holding Corp

$0.53450.38%

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