Following the market opening Thursday, the Dow traded down 0.22% to 34,856.63 while the NASDAQ rose 0.01% to 14,645.82. The S&P also fell, dropping 0.17% to 4,366.76.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,947,230 cases with around 608,110 deaths. India confirmed a total of at least 30,987,880 cases and 411,980 deaths, while Brazil reported over 19,209,720 COVID-19 cases with 537,390 deaths. In total, there were at least 188,477,290 cases of COVID-19 worldwide with more than 4,060,290 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Real estate shares rose by 0.3% on Thursday. Meanwhile, top gainers in the sector included Retail Value Inc. RVI, up 8%, and Nam Tai Property Inc. NTP, up 4%.
In trading on Thursday, health care shares fell 0.7%.
Top Headline
Morgan Stanley MS reported better-than-expected results for its second quarter on Thursday.
Morgan Stanley reported quarterly earnings of $1.85 per share, exceeding analysts’ estimates of $1.65 per share. The company’s revenue came in at $14.80 billion, versus expectations of $13.96 billion.
Equities Trading UP
Verb Technology Company, Inc. VERB shares shot up 22% to $3.04. Verb Technology shares gained 12% on Wednesday after the company, and SHOP.COM, announced they partnered to launch SHOP LIVE, a customized, interactive and live-streaming channel.
Shares of ATA Creativity Global AACG got a boost, shooting 32% to $3.9200.
Datasea Inc. DTSS shares were also up, gaining 14% to $4.5399. Datasea’s subsidiary Shuhai Zhangxun Information Technology Co., Ltd recently inked six purchase and distribution agreements to provide 5G Message-marketing Cloud Platform (5G MMCP) Version 3.0 and further enhanced product availability nationwide in China by adding new district partners.
Check out these big movers of the day
Equities Trading DOWN
IMV Inc. IMV shares tumbled 25% to $1.5499 after the company priced its previously-announced underwritten public offering of 14.3 million shares at $1.75 per Unit, for gross proceeds of approximately $25 million.
Shares of Dogness (International) Corporation DOGZ were down 22% to $1.84 after the company announced it entered into an agreement for a registered direct offering of roughly $3.96 millionClass A common shares.
Tempest Therapeutics Inc. TPST was down, falling 22% to $17.50. HC Wainwright & Co. recently initiated coverage on Tempest Therapeutics with a Buy rating.
Commodities
In commodity news, oil traded down 1.9% to $71.77, while gold traded up 0.1% to $1,826.30.
Silver traded up 0.1% Thursday to $26.30 while copper rose 0.4% to $4.2855.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.8%, the Spanish Ibex Index fell 1% and the German DAX 30 dropped 1.2%. Meanwhile, the London’s FTSE 100 fell 0.9%, French CAC 40 declined 0.9% and Italy’s FTSE MIB dipped 1.2%.
Consumer prices in Italy increased 1.3% year-over-year in June. The unemployment rate in the UK rose to 4.8% in the three months to May.
Economics
US initial jobless claims dropped to 360,000 in the latest week, versus a revised reading of 386,000 in the prior period.
The Philadelphia Fed manufacturing index dropped to 21.9 in July from 30.7 in June.
The New York Empire State Manufacturing Index surged 26 points to a reading of 43.0 in July.
The price index for US imports rose 1.0% in June, while export prices increased 1.2%.
US industrial production rose 0.4% for June.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
Chicago Fed President Charles Evans will speak at 11:00 a.m. ET.
The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
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