Following the market opening Thursday, the Dow traded up 0.37% to 29,993.88 while the NASDAQ rose 0.60% to 12,424.04. The S&P also rose, gaining 0.19% to 3,675.80.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 13,925,990 cases with around 273,840 deaths. India confirmed a total of at least 9,534,960 confirmed cases and 138,640 deaths, while Brazil reported over 6,436,650 COVID-19 cases with 174,510 deaths. In total, there were at least 64,648,030 cases of COVID-19 worldwide with over 1,495,910 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Industrial shares climbed 0.7% on Thursday. Meanwhile, top gainers in the sector included Nesco Holdings, Inc. NSCO, up 75%, and Embraer S.A. ERJ, up 11%.
In trading on Thursday, financial shares fell 0.5%.
Top Headline
Dollar General Corp. DG reported better-than-expected results for its third quarter on Thursday.
Dollar General posted quarterly earnings of $2.31 per share, surpassing analysts’ estimates of $2.00 per share. The company’s quarterly sales came in at $8.20 billion, also exceeding expectations of $8.15 billion.
Equities Trading UP
Ever-Glory International Group, Inc. EVK shares shot up 149% to $5.22 after gaining 7%on Wednesday. The company released quarterly results last month.
Shares of Lizhi Inc. LIZI got a boost, shooting 75% to $4.135 after the company announced it has entered into a collaboration agreement with Xpeng Motors to integrate its in-car audio content product into Xpeng Motors' in-car intelligent operating system.
Nesco Holdings, Inc.. NSCO shares were also up, gaining 71% to $7.47 after the company announced plans to acquire Custom Truck One Source for $1.475 billion. Platinum Equity Affiliate will also invest over $850 million into Nesco in exchange for newly-issued common stock at $5 per share.
Equities Trading DOWN
Splunk Inc. SPLK shares tumbled 24% to $156.57 after the company reported a wider loss for the third quarter and issued weak sales guidance for the current quarter. Stifel downgraded Splunk from Buy to Hold and announced a $160 price target.
Shares of Lands' End, Inc. LE were down 20% to $20.14 after the company reported Q3 results and issued a weak forecast for the fourth quarter.
Duluth Holdings Inc. DLTH was down, falling 12% to $12.31 after the company reported downbeat quarterly sales.
Commodities
In commodity news, oil traded down 0.9% to $44.87, while gold traded up 0.9% to $1,846.60.
Silver traded up 1.3% Thursday to $24.40 while copper rose 0.3% to $3.4980.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.2%, the Spanish Ibex Index fell 0.4%, while Italy’s FTSE MIB Index rose 0.1%. Meanwhile, the German DAX 30 declined 0.4%, French CAC 40 fell 0.3% and London’s FTSE 100 dropped 0.1%.
French services PMI dropped to 38.8 in November versus 46.5 in the prior month, while Spanish services PMI declined to 39.5 from 41.4.
Economics
US initial jobless claims fell to 712,000 in the week ended November 28, versus a revised level of 787,000 in the prior week.
The IHS Markit services PMI increased to 58.4 in November versus a preliminary reading of 57.7.
The ISM non-manufacturing PMI declined to 55.9 in November versus 56.6 in the prior month.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
Data on money supply for the recent week will be released at 4:30 p.m. ET.
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