Dow Falls Over 1%; US Initial Jobless Claims Decline

U.S. stocks traded mixed this morning, with the Dow Jones index falling more than 1% on Thursday.

Following the market opening Thursday, the Dow traded down 1.22% to 39,187.35 while the NASDAQ gained 0.28% to 16,352.96. The S&P 500 also rose, gaining, 0.11% to 5,281.74.

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Leading and Lagging Sectors

Energy shares surged by 2.2% on Thursday.

In trading on Thursday, health care shares fell by 0.3%.

Top Headline

U.S. initial jobless claims declined by 9,000 from the previous week to 215,000 during the second week of April, versus market estimates of 225,000.

Equities Trading UP

Baijiayun Group Ltd RTC shares shot up 109% to $0.4484 after the company announced it formed a partnership with Xinlantian to combine their AI video and large language model technologies with expertise in autism rehabilitation.
Shares of Adagio Medical Holdings, Inc. ADGMgot a boost, surging 58% to $1.3820 after the FDA granted Breakthrough Device Designation for the vCLAS cryoablation system.
Channel Therapeutics Corporation CHRO shares were also up, gaining 59% to $1.9950. Ligand Pharmaceuticals Incorporated LGND and Channel Therapeutics on Thursday signed a definitive merger agreement to combine Ligand's wholly owned subsidiaries, Pelthos Therapeutics Inc. and LNHC, Inc. (collectively Pelthos) with CHRO Merger Sub Inc., a wholly owned subsidiary of Channel.

Equities Trading DOWN

Click Holdings Limited CLIK shares dropped 39% to $0.4157.
Shares of CaliberCos Inc. CWD were down 33% to $0.3020 as the company announced the pricing of the public offering units.
iOThree Limited IOTR was down, falling 35% to $1.20.

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Commodities

In commodity news, oil traded up 1.1% to $63.14 while gold traded down 0.1% at $3,344.80.

Silver traded down 1.1% to $32.610 on Thursday, while copper fell 1% to $4.6380.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.4%, Germany's DAX 40 declined 0.6% and France's CAC 40 dipped 0.7%. Spain's IBEX 35 Index slipped 0.5%, while London's FTSE 100 fell 0.5%.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 1.35%, China's Shanghai Composite gaining 0.13%, Hong Kong's Gang Seng index gaining 1.61% and India's BSE Sensex gaining 1.96%.

Economics

U.S. housing starts dipped 11.4% month-over-month to an annualized rate of 1.324 million in March.
U.S. initial jobless claims declined by 9,000 from the previous week to 215,000 during the second week of April, versus market estimates of 225,000.
The Philadelphia Fed Manufacturing Index fell 39 points to a reading of -26.4 in April, and down from market estimates of 2.
U.S. building permits climbed by 1.6% to an annualized rate of 1.482 million in March.

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