Midway through trading Thursday, the Dow traded up 1.08% to 23728.49 while the NASDAQ rose 0.98% to 8578.80. The S&P also rose, gaining 0.95% to 2825.89.
The U.S. is the epicenter of the coronavirus pandemic with the highest number of cases and deaths around the world. U.S. reported a total of 842,620 coronavirus cases with around 46,780 deaths. Spain confirmed a total of over 213,020 coronavirus cases with 22,150 deaths, while Italy reported a total of at least 187,320 confirmed cases and 25,080 deaths. In total, there were at least 2,645,090 cases of COVID-19 worldwide with over 184,260 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Energy shares climbed 4.2% on Thursday. Meanwhile, top gainers in the sector included Denbury Resources Inc. DNR, up 45%, and Laredo Petroleum, Inc. LPI, up 40%.
In trading on Thursday, utilities shares fell 1.3%.
Top Headline
Eli Lilly And Co LLY reported better-than-expected results for its first quarter.
Eli Lilly posted quarterly earnings of $1.75 per share, beating analysts’ estimates of $1.48 per share. Its sales came in at $5.86 billion, versus expectations of $5.51 billion.
Eli Lilly said it now expects FY20 adjusted earnings of $6.70 to $6.90 per share, and sales of $23.7 billion to $24.2 billion.
Equities Trading UP
CounterPath Corporation CPAH shares shot up 39% to $3.0699 after the company provided Q1 and 2020 guidance and said it is experiencing 'strong demand' for its products as a result of the coronavirus pandemic.
Shares of Sleep Number Corporation SNBR got a boost, shooting 30% to $30.00 after the company reported upbeat Q1 results.
Immunomedics, Inc. IMMU shares were also up, gaining 24% to $27.21 after the FDA granted accelerated approval for the company's Trodelvy in previously-treated metastatic triple-negative breast cancer.
Equities Trading DOWN
Immunic, Inc. IMUX shares tumbled 13% to $9.40. Immunic priced its 1.764 million share common stock offering to Altium Capital at $8.50 per share.
Shares of NETGEAR, Inc. NTGR were down 17% to $21.56 after the company reported Q1 results and withdrew its guidance.
Invesco Ltd. IVZ was down, falling 18% to $7.50 after the company reported worse-than-expected Q1 earnings.
Commodities
In commodity news, oil traded up 31% to $18.05, while gold traded up 1.1% to $1,758.10.
Silver traded up 1.5% Thursday to $15.56, while copper rose 1.4% to $2.321.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.97%, the Spanish Ibex Index rose 0.44%, while Italy’s FTSE MIB Index rose 1.22%. Meanwhile, the German DAX gained 1.07%, and the French CAC 40 rose 0.95% while UK shares rose 0.88%.
Economics
New U.S. jobless claims for the week ending April 17 totaled a whopping 4.427 million versus the 4.2 million estimate, according to numbers reported Thursday by the Bureau of Labor Statistics.
The IHS Markit composite PMI dipped to 27.4 in April, versus 40.9 in the prior month.
Sales of new homes in the U.S. dropped 15.4% to an annual rate of 627,000 in March.
Domestic supplies of natural gas climbed 43 billion cubic feet for the week ended April 17, the U.S. Energy Information Administration reported. However, analysts were expecting a gain of 49 billion cubic feet.
The Kansas City Fed's manufacturing production index dipped 44 points to a reading of -62 in April.
Data on money supply for the recent week will be released at 4:30 p.m. ET.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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