S&P 500 Edges Higher; J.Jill Shares Plunge

U.S. stocks traded mixed toward the end of trading, with the S&P 500 edging higher on Thursday.

The Dow traded down 0.21% to 38,629.82 while the NASDAQ rose 0.26% to 17,654.01. The S&P 500 also rose, gaining, 0.13% to 5,428.07  .

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Leading and Lagging Sectors

Information technology shares jumped by 1.1% on Thursday.

In trading on Thursday, industrials shares fell by 0.9%.

Top Headline

Shares of Signet Jewelers Limited SIG fell around 16% during Thursday’s session following mixed first-quarter earnings including an 8.9% drop in same store sales.

The company reported a first-quarter FY25 sales decline of 9.5% year-on-year to $1.510 billion, missing the analyst consensus estimate of $1.514 billion. Adjusted EPS of $1.11 beat the consensus estimates of 85 cents.

Signet expects second-quarter sales of $1.46 billion – $1.52 billion, versus the consensus of $1.508 billion.

Equities Trading UP
                       

  • BioRestorative Therapies, Inc. BRTX shares shot up 33% to $1.77 after the company announced that it engaged in advanced discussions for a ThermoStem license with a regenerative medicine firm.
  • Shares of Zapp Electric Vehicles Group Limited ZAPP got a boost, surging 275% to $2.68 after the company announced that it signed a memorandum of understanding and intends to appoint Bounce Electric 1 Private as its contract manufacturing partner for sales of the i300 in India.
  • Sharps Technology, Inc. STSS shares were also up, gaining 12% to $0.3351 after the company announced that it signed a $30 million purchase order from Nephron Pharmaceuticals for prefillable copolymer syringes.

Equities Trading DOWN

  • J.Jill, Inc. JILL shares dropped 18% to $32.35. J.Jill priced its public offering of 2 million common stock at $31 per share.
  • Shares of Nuburu, Inc. BURU were down 36% to $0.0933 after the company announced that it will be implementing a 1-for-40 reverse stock split.
  • Cara Therapeutics, Inc. CARA was down, falling 35% to $0.4443 after the company announced the outcome from the dose-finding Part A of the KOURAGE-1 study evaluating the efficacy and safety of oral difelikefalin for moderate-to-severe pruritus in adult patients with notalgia paresthetica. Also, Needham, Canaccord Genuity and HC Wainwright downgraded their respective ratings on the stock.

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Commodities

In commodity news, oil traded down 0.1% to $78.47 while gold traded down 1.6% at $2,317.20.

Silver traded down 4.1% to $29.025 on Thursday, while copper fell 1.8% to $4.4840.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 1.31%, Germany's DAX dipped 1.96% and France's CAC 40 tumbled 1.99%. Spain's IBEX 35 Index fell 1.59%, while London's FTSE 100 slipped 0.63%.

Industrial production in the Eurozone fell by 0.1% month-over-month in April following a revised 0.5% gain in the prior month. The annual inflation rate in Spain accelerated for the third month to 3.6% in May.

Germany’s wholesale prices declined by 0.7% year-over-year in May compared to a 1.8% fall in the prior month.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei falling 0.40%, Hong Kong's Hang Seng Index gaining 0.97%, China's Shanghai Composite Index falling 0.28% and India's S&P BSE Sensex gaining 0.27%.

The Hong Kong Monetary Authority kept its base rate unchanged at 5.75% during its latest meeting.

Economics

  • U.S. initial jobless claims rose by 13,000 to 242,000 in the week ending June 8, compared to market estimates of 225,000.
  • U.S. producer prices fell by 0.2% month-over-month in May versus market estimates of a 0.1% gain and following a 0.5% increase in April.
  • U.S. natural-gas supplies rose 74 billion cubic feet during the week ended June 7, versus market estimates of a 75 billion cubic feet gain.

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