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Toward the end of trading Thursday, the Dow traded up 0.7% to 26,688.36 while the NASDAQ rose 0.58% to 8,033.26. The S&P also rose, gaining 0.68% to 2,946.40.
Leading and Lagging Sectors
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Energy shares gained 1.9% on Thursday. Meanwhile, top gainers in the sector included Roan Resources, Inc. (NYSE:ROAN), up 47%, and Mammoth Energy Services, Inc. (NASDAQ:TUSK), up 11%.
In trading on Thursday, financial shares rose by just 0.1%.
Top Headline
Kroger Co (NYSE:KR) reported in-line earnings for its second quarter, while sales exceeded estimates.
Kroger reported second-quarter earnings of 72 cents per share, which met the analyst consensus estimate. The company reported quarterly sales of $37.251 billion, which beat the analyst consensus estimate of $37.21 billion. The company sees FY2019 adjusted EPS between $2.15 and $2.25.
Equities Trading UP
Edesa Biotech, Inc. (NASDAQ:EDSA) shares shot up 95% to $8.25 after the company received Food and Drug Administration approval to proceed with its U.S. study of EB01 as a potential treatment for chronic allergic contact dermatitis. Edesa, a clinical-stage biopharmaceutical company, saidthe FDA sent a "safe to proceed" letter that allows the company toproceed with its clinical investigation of EB01, a novel sPLA2 inhibitorEdesa is developing as a potential treatment for chronic allergic contact dermatitis..
Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) got a boost, shooting up 36% to $29.85 after pricing 17 million shares of stock at $22 per share.
Personalis, Inc. (NASDAQ:PSNL) shares were also up, gaining 66% to $28.23 after pricing 7.92 million shares at $17 per share.
Equities Trading DOWN
Scholar Rock Holding Corporation (NASDAQ:SRRK) shares tumbled 16% to $14.32 after the company priced a 3 million share common stock offering at $15 per share.
Shares of Steelcase Inc. (NYSE:SCS) were down 11% to $15.88 after reporting downbeat results for its first quarter.
Carnival Corporation (NYSE:CCL) was down, falling 9% to $48.16. Carnival reported stronger-than-expected results for its second quarter, but lowered its FY19 earnings forecast.
Commodities
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In commodity news, oil traded up 5.5% to $56.72, while gold traded up 3.4% to $1,394.40.
Silver traded up 3.3% Thursday to $15.455, while copper rose 1.1% to $2.71.
Euro zone
European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.36%, the Spanish Ibex Index fell 0.25%, while Italy’s FTSE MIB Index gained 0.66%. Meanwhile, the German DAX gained 0.38%, and the French CAC 40 rose 0.31% while UK shares rose 0.28%.
Economics
Initial jobless claims dropped 6,000 to 216,000 in the week ended June 15. However, economists were expecting a reading of 220,000.
The Philadelphia Fed manufacturing index dropped to a reading of 0.3 in June, versus a reading of 16.6 in the previous month. However, economists projected a reading of 8.
The U.S. current-account deficit declined 9.4% to $130.4 billion in the first quarter, compared to a revised $143.9 billion for the fourth quarter.
The index of leading economic indicators was unchanged for May.
Domestic supplies of natural gas climbed 115 billion cubic feet for the week ended June 14, the U.S. Energy Information Administration reported. However, analysts expected a gain of 104 billion cubic feet.
Data on money supply for the latest week will be released at 4:30 p.m. ET.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.