Market Overview

Mid-Day Market Update: Dow Rises 170 Points; Synthesis Energy Systems Shares Jump


Midway through trading Thursday, the Dow traded up 0.6% to 28,709 while the NASDAQ rose 0.67% to 9,032.36. The S&P also rose, gaining 0.34% to 3,241.74.

Leading and Lagging Sectors

Information technology shares climbed 1.1% on Thursday. Meanwhile, top gainers in the sector included Telaria Inc (NYSE: TLRA), up 10%, and Arlo Technologies Inc (NYSE: ARLO), up 9%.

In trading on Thursday, utilities shares fell 0.9%.

Top Headline

U.K. chipmaker Imagination Technologies Group plc has signed a new deal with Apple Inc. (NASDAQ: AAPL) after a three-year breakup.

In April 2017, U.K. chipmaker Imagination Technologies Group plc saw its shares plummet by 70% after the California-based tech company said it wouldn't use the company's intellectual property any longer. Imagination Technologies didn't mention which IP it has agreed to share with Apple. According to Bloomberg, it is likely related to graphics and artificial intelligence.

Equities Trading UP

Synthesis Energy Systems, Inc. (NASDAQ: SES) shares shot up 63% to $9.29 after the company was granted a patent titled 'Apparatus using multiple jets for gas delivery and methods of fluidizing.'

Shares of Trillium Therapeutics Inc (NASDAQ: TRIL) got a boost, shooting up 50% to $1.55 after Morgan Stanley on Tuesday reported a 5.9% passive stake in the company.

Recon Technology, Ltd. (NASDAQ: RCON) shares were also up, gaining 26% to $2.90 after the company won a three-year automation system bid from Jidong Oilfield.

Equities Trading DOWN

DURECT Corporation (NASDAQ: DRRX) shares tumbled 31% to $2.63 after the company announced DUR-928 did not demonstrate benefit over placebo in Phase 2a psoriasis trial. The company is discontinuing development.

Shares of Neovasc Inc. (NASDAQ: NVCN) were down 28% to $3.92 after the company announced a $10 million common stock offering priced at-the-market.

Oncolytics Biotech, Inc. (NASDAQ: ONCY) was down, falling 23% to $3.67 after gaining 23% on Tuesday.


In commodity news, oil traded up 0.2% to $61.15, while gold traded up 0.5% to $1,531.30.

Silver traded up 0.7% Thursday to $18.04, while copper rose 0.4% to $2.8075.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 1%, the Spanish Ibex Index rose 1.52%, while Italy’s FTSE MIB Index gained 1.45%. Meanwhile, the German DAX gained 1.19%, and the French CAC 40 rose 1.23% while UK shares rose 0.87%.


Initial jobless claims fell 2,000 to 222,000 in the seven days ended December 28.

The IHS Markit manufacturing PMI fell to 52.4 in December, versus 52.6 in the prior month.

Data on money supply for the recent week will be released at 4:30 p.m. ET.


Related Articles (AAPL + ARLO)

View Comments and Join the Discussion!

Posted-In: Mid-Day Market UpdateNews Eurozone Commodities Global Intraday Update Markets