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Market Overview

Mid-Afternoon Market Update: Dow Rises 60 Points; Red Lion Hotels Shares Climb On Acquisition News

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Toward the end of trading Thursday, the Dow traded up 0.20% to 30,470 while the NASDAQ fell 0.13% to 12,853.33. The S&P also rose, gainng 0.17% to 3,738.39.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 19,745,880 cases with around 342,410 deaths. India confirmed a total of at least 10,266,670 confirmed cases and 148,730 deaths, while Brazil reported over 7,619,200 COVID-19 cases with 193,870 deaths. In total, there were at least 82,843,750 cases of COVID-19 worldwide with over 1,807,860 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Financial shares climbed 0.7% on Thursday. Meanwhile, top gainers in the sector included LendingClub Corporation (NYSE: LC), up 35%, and Bit Digital, Inc. (NASDAQ: BTBT), up 42%.

In trading on Thursday, energy shares fell 1%.

Top Headline

US jobless claims fell to 787,000 in the week ended December 26, versus 803,000 in the prior week. However, analysts were expecting a reading of 833,000 for the week.

 

Equities Trading UP

Red Lion Hotels Corporation (NYSE: RLH) shares shot up 27% to $3.42 as the company agreed to be acquired by Sonesta International Hotels for $3.50 per share in cash.

Shares of Ebang International Holdings Inc. (NASDAQ: EBON) got a boost, shooting 24% to $6.09 after the company announced plans to launch a cryptocurrency exchange in Q1 2021.

Intrepid Potash, Inc. (NYSE: IPI) shares were also up, gaining 36% to $24.18 after the company issued updates on its potash and Trio pricing and its 2021 outlook. The company sees Q1 and FY 2021 water volumes in excess of same time last year.

Equities Trading DOWN

Histogen Inc. (NASDAQ: HSTO) shares tumbled 27% to $0.76 after the company reported pricing of $14.0 million upsized public offering.

Shares of Guardion Health Sciences, Inc. (NASDAQ: GHSI) were down 26% to $0.4335 after jumping 54% on Wednesday. The company recently named Bret Scholtes as President and CEO.

Orbital Energy Group, Inc. (NASDAQ: OEG) was down, falling 10% to $2.1267 after the company priced its 5.555 million share offering at $1.80 per share.

Commodities

In commodity news, oil traded down 0.3% to $48.25, while gold traded up 0.2% to $1,897.60.

Silver traded down 0.4% Thursday to $26.465 while copper fell 0.9% to $3.5190.

Euro zone

European shares closed lower today. The eurozone’s STOXX 600 fell 0.3%, the Spanish Ibex Index fell 0.99%. Meanwhile, the French CAC 40 slipped 0.86% and London’s FTSE 100 dropped 1.45%

Economics

US jobless claims fell to 787,000 in the week ended December 26, versus 803,000 in the prior week. However, analysts were expecting a reading of 833,000 for the week.

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

 

Related Articles (EBON + BTBT)

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