Skip to main content

Market Overview

Mid-Morning Market Update: Markets Mixed; Union Pacific Profit Beats Views

Share:

Following the market opening Thursday, the Dow traded down 0.06% to 31,170.46 while the NASDAQ rose 0.28% to 13,495.39. The S&P also fell, dropping 0.03% to 3,850.70.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 24,438,930 cases with around 406,160 deaths. India confirmed a total of at least 10,610,880 confirmed cases and 152,860 deaths, while Brazil reported over 8,638,240 COVID-19 cases with 212,830 deaths. In total, there were at least 96,938,720 cases of COVID-19 worldwide with over 2,077,000 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Communication services shares gained by 0.9% on Thursday. Meanwhile, top gainers in the sector included Qutoutiao Inc. (NASDAQ: QTT), up 25%, and Zynga Inc. (NASDAQ: ZNGA), up 4%.

In trading on Thursday, energy shares fell 2.1%.

Top Headline

Union Pacific Corporation (NYSE: UNP) reported stronger-than-expected earnings for its fourth quarter.

Union Pacific reported quarterly earnings of $2.36 per share, beating analysts’ expectations of $2.29 per share. The company posted managed revenue of $5.14 billion, versus estimates of $5.09 billion.

 

Equities Trading UP

Ideal Power Inc. (NASDAQ: IPWR) shares shot up 77% to $16.08 after the company highlighted its whitepaper titled 'B-TRAN™ Applications and Benefits.'

Shares of ADiTx Therapeutics, Inc. (NASDAQ: ADTX) got a boost, shooting 79% to $4.67 after the company reported the operational launch of its AditxtScore Immune Monitoring Platform is February 1st, 2021.

Genetic Technologies Limited (NASDAQ: GENE) shares were also up, gaining 66% to $7.14 after the company provided an update on its COVID-19 severity risk test, saying predictive capabilities improved 100% over age and sex alone.

Check out these big movers of the day

Equities Trading DOWN

Obalon Therapeutics, Inc. (NASDAQ: OBLN) shares tumbled 23% to $6.36. Obalon Therapeutics shares jumped over 414% on Wednesday after the company announced a merger agreement with ReShape Lifesciences.

Shares of Cancer Genetics, Inc. (NASDAQ: CGIX) were down 23% to $4.53 after jumping around 75% on Wednesday.

Riot Blockchain, Inc. (NASDAQ: RIOT) was down, falling 16% to $18.74 as Bitcoin prices pull back from recent highs.

Commodities

In commodity news, oil traded down 0.5% to $52.96, while gold traded up 0.2% to $1,870.50.

Silver traded up 0.8% Thursday to $25.96 while copper rose 0.4% to $3.6555.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.5%, the Spanish Ibex Index rose 0.2% and the German DAX 30 gained 0.4%. Meanwhile, the French CAC 40 fell 0.1%, London’s FTSE 100 rose 0.1% and Italy’s FTSE MIB rose 0.1%.

French industry climate indicator rose 4 points to a reading of 98.0 in January, while Italy's industrial new orders fell 1.3% in November.

Economics

Housing starts rose 5.8% to an annualized rate of 1669 thousand in December, while building permits rose 4.5% to an annual rate of 1.709 million in December.

US initial jobless claims dropped to 900,000 in the week ended January 16, versus previous reading 926,000.

The Philadelphia Fed manufacturing index climbed to 26.5 in January versus a revised reading of 9.1 in December.

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.

Check out the full economic calendar here

 

Related Articles (CGIX + ADTX)

View Comments and Join the Discussion!

Posted-In: Earnings News Penny Stocks Eurozone Commodities Small Cap Global Intraday Update

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com