Toward the end of trading Thursday, the Dow traded up 0.16% to 34,853.89 while the NASDAQ rose 0.38% to 14,687.85. The S&P also rose, gaining 0.20% to 4,367.55.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 34,229,800 cases with around 609,870 deaths. India confirmed a total of at least 31,257,720 cases and 418,980 deaths, while Brazil reported over 19,473,950 COVID-19 cases with 545,600 deaths. In total, there were at least 192,054,100 cases of COVID-19 worldwide with more than 4,128,050 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Information technology shares climbed 0.7% on Thursday. Meanwhile, top gainers in the sector included ACM Research, Inc. ACMR, up 4%, and Adobe Inc. ADBE, up 2%.
In trading on Thursday, financial shares fell 0.9%.
AT&T Inc. T reported better-than-expected results for its second quarter.
AT&T reported quarterly adjusted earnings of $0.89 per share, beating analysts’ estimates of $0.79 per share. The company’s revenue came in at $44.05 billion, versus expectations of $42.64 billion.
AT&T said it expects FY21 sales growth in the 2-3% range and also projects adjusted EPS to grow in the mid to mid-single digits.
Equities Trading UP
NRx Pharmaceuticals, Inc. NRXP shares shot up 45% to $14.64 as the company said it has validated the first commercial formulation of Zyesami for intravenous use, allowing for high volume manufacturing, with an anticipated one year or greater stability under appropriate storage conditions.
Shares of Couchbase, Inc. BASE got a boost, shooting 30% to $31.19 as the company priced its IPO at $24 per share.
ImmunoPrecise Antibodies Ltd. IPA shares were also up, gaining 102% to $11.22 after the company announced new results from its TATX-03 PolyTope Therapy, demonstrating potent pseudovirus neutralizing activity against the SARS-CoV-2 Delta (B.1.617.2) variant.
Equities Trading DOWN
Seres Therapeutics, Inc. MCRB shares tumbled 55% to $9.30 after the company announced topline results from the Phase 2b ECO-RESET study evaluating SER-287 in patients with mild-to-moderate ulcerative colitis (UC). The study did not meet its primary endpoint of improving clinical remission rates compared to placebo.
Shares of TRACON Pharmaceuticals, Inc. TCON were down 25% to $3.70 after the company announced it increased a previously announced bought deal offering of common stock to $15 million.
Jupiter Wellness, Inc. JUPW was down, falling 23% to $2.15 after the company announced pricing of a $32.5 million underwritten public offering of common stock and warrants.
In commodity news, oil traded up 2.1% to $71.77, while gold traded up 0.2% to $1,807.70.
Silver traded up 0.7% Thursday to $25.43 while copper rose 1.4% to $4.3320.
European shares closed mostly higher today. The eurozone’s STOXX 600 rose 0.56%, the Spanish Ibex Index rose 0.64% and the German DAX 30 gained 0.60%. Meanwhile, the London’s FTSE 100 fell 0.43%, French CAC 40 surged 0.26% and Italy’s FTSE MIB climbed 0.53%.
The European Central Bank announced plans to keep interest rates and asset purchases unchanged. The manufacturing climate indicator in France climbed to 110 in July from a revised reading of 108 in the prior month. The CBI's quarterly gauge of manufacturing optimism for the UK declined to 27 in the third quarter compared to 38 in the prior three-month period.
US initial jobless claims rose to 419,000 in the latest week, versus a revised reading of 368,000 in the previous week.
The Chicago Fed National Activity Index fell to 0.09 in June from a revised reading of 0.26 in May.
Existing home sales rose 1.4% to 5.86 million in June.
The index of leading economic indicators rose 0.7% for June.
The Kansas City Fed's manufacturing production index surged to a record high of 41 in July versus 30 in the prior month.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.