Midway through trading Thursday, the Dow traded down 1.42% to 34,189.28 while the NASDAQ fell 1.43% to 14,455.66. The S&P also fell, dropping 1.42% to 4,296.30.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,771,940 cases with around 606,220 deaths. India confirmed a total of at least 30,709,550 cases and 405,020 deaths, while Brazil reported over 18,909,030 COVID-19 cases with 528,540 deaths. In total, there were at least 185,125,230 cases of COVID-19 worldwide with more than 4,002,920 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Utilities shares rose by 0.1% on Thursday. Meanwhile, top gainers in the sector included Eversource Energy ES, up 1%, and Consolidated Edison, Inc. ED, up 1%.
In trading on Thursday, financial shares fell 2%.
Top Headline
US initial jobless claims rose to 373,000 in the latest week, from a revised level of 371,000 in the previous week. However, analysts were expecting a reading of 350,000.
Equities Trading UP
Carver Bancorp, Inc. CARV shares shot up 149% to $26.37 after gaining 8% on Wednesday.
Shares of GBS Inc. GBS got a boost, shooting 40% to $4.12 after the company announced it was awarded a $4.7 million Australian Federal Government scientific grant to manufacture biosensor technology.
Digital Brands Group, Inc. DBGI shares were also up, gaining 27% to $6.70 after the company said it estimates Q2 revenue increased by approximately 100% over Q1 2021 figures.
Check out these big movers of the day
Equities Trading DOWN
Vista Gold Corp. VGZ shares tumbled 17% to $1.00 after the company increased its earlier announced bought deal offering to $13.5 million.
Shares of Pop Culture Group Co., Ltd CPOP were down 21% to $20.86 after dropping around 17% on Wednesday on continued post-IPO volatility.
360 DigiTech, Inc. QFIN was down, falling 23% to $25.39 as traders circulated a finance.sinia.com report titled "The 360 IOU APP, the core product of 360 Digital, has been removed."
Commodities
In commodity news, oil traded down 0.7% to $71.67, while gold traded up 0.2% to $1,806.10.
Silver traded down 0.2% Thursday to $26.08 while copper fell 1.6% to $4.2550.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 tumbled 1.99%, the Spanish Ibex Index fell 2.58% and the German DAX 30 declined 2.1%. Meanwhile, the London’s FTSE 100 dropped 2.02%, French CAC 40 dipped 2.38% and Italy’s FTSE MIB declined 2.93%.
German current account surplus increased to EUR 13.1 billion in May from EUR 7.1 billion in the year-ago month, while trade surplus widened to EUR 12.3 billion from EUR 7 billion.
Economics
US initial jobless claims rose to 373,000 in the latest week, from a revised level of 371,000 in the previous week.
Data on consumer credit for May will be released at 3:00 p.m. ET.
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