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Toward the end of trading Thursday, the Dow traded up 0.55% to 27,287.06 while the NASDAQ rose 0.63% to 8,220.89. The S&P also rose, gaining 0.57% to 3,018.14.
Leading and Lagging Sectors
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Materials shares climbed 1% on Thursday. Meanwhile, top gainers in the sector included AgroFresh Solutions, Inc. (NASDAQ:AGFS), up 9%, and Mountain Province Diamonds Inc. (NASDAQ:MPVD), up 8%.
In trading on Thursday, energy shares fell 0.6%.
Top Headline
Kroger Co (NYSE:KR) reported better-than-expected earnings for its second quarter, while sales missed views.
Second-quarter earnings came in at 44 cents per share, beating estimates of 41 cents. Sales came in at $28.17 billion, versus estimates by $28.38 billion.
Kroger plans to continue to reduce costs and says it is on track to deliver $100 million in incremental operating profit through alternative profit stream growth. Kroger maintained its 2019 outlook.
Equities Trading UP
Sintx Technologies, Inc. (NASDAQ:SINT) shares shot up 43% to $2.15 after Ascendiant Capital initiated coverage on the stock with a Buy rating and a $3 price target.
Shares of 111, Inc. (NASDAQ:YI) got a boost, shooting up 32% to $6.09. 111 reported the signing of a strategic cooperation agreement with Dong-E-E-Jiao Co., Ltd. for direct sourcing.
10x Genomics, Inc. (NASDAQ:TXG) shares were also up, gaining 43% to $55.74. 10x Genomics priced IPO of 10 million shares at $39 per share.
Equities Trading DOWN
Tocagen Inc. (NASDAQ:TOCA) shares tumbled 78% to $0.9001 following an adverse clinical trial readout. Tocagen, a thinly traded nano-cap biotech, said Thursday morning a Phase 3 TOCA 5 study evaluating Toca 511 and Toca FC in patients with recurrent, high-grade glioma undergoing resection missed the primary endpoint of overall survival compared to the standard of care.
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Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM) were down 40% to $7.17 after the company reported data from the first cohort of OPTIC phase 1 trial of ADVM-022 intravitreal gene therapy to treat wet AMD.
Tailored Brands, Inc. (NYSE:TLRD) was down, falling 28% to $5.18 after the company issued Q3 EPS guidance below analyst estimates. The company also suspended its quarterly dividend.
Commodities
In commodity news, oil traded down 1.7% to $54.82, while gold traded up 0.2% to $1,506.40.
Silver traded down 0.1% Thursday to $18.15, while copper rose 1.2% to $2.647.
Euro zone
European shares closed higher today. The eurozone’s STOXX 600 rose 0.2%, the Spanish Ibex Index rose 0.25%, while Italy’s FTSE MIB Index rose 0.88%. Meanwhile, the German DAX rose 0.41% and the French CAC 40 climbed 0.44% while UK shares rose 0.09%.
Economics
The Consumer Price Index rose 0.1% for August, versus economists’ expectations for a 0.1% increase.
U.S. initial jobless claims fell 15,000 to 204,000 for the latest week. However, analysts were expecting a 215,000 reading.
Domestic supplies of natural gas climbed 78 billion cubic feet for the week ended September 6, the U.S. Energy Information Administration reported. However, analysts projected a gain of 87 billion cubic feet.
The U.S. federal government posted a budget deficit of $200 billion for August, the Treasury Department reported. However, analysts were projecting a deficit of $195 billion.
Data on money supply for the recent 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.