Following the market opening Thursday, the Dow traded up 0.44% to 35,085.92 while the NASDAQ rose 0.27% to 14,802.51. The S&P also rose, gaining 0.45% to 4,420.49.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 34,675,350 cases with around 611,800 deaths. India confirmed a total of at least 31,528,110 cases and 422,660 deaths, while Brazil reported over 19,797,080 COVID-19 cases with 553,160 deaths. In total, there were at least 196,040,880 cases of COVID-19 worldwide with more than 4,188,530 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Materials shares climbed 1.1% on Thursday. Meanwhile, top gainers in the sector included Agnico Eagle Mines Limited AEM, up 6% and First Majestic Silver Corp. AG up 4%.
In trading on Thursday, communication services shares fell 0.5%.
Mastercard Incorporated MA reported better-than-expected results for its second quarter.
Mastercard reported quarterly adjusted earnings of $1.95 per share, beating analysts’ estimates of $1.72 per share. The company’s revenue came in at $4.50 billion, versus expectations of $4.34 billion.
Equities Trading UP
LendingClub Corporation LC shares shot up 48% to $24.06 after the company reported better-than-expected Q2 results and raised guidance.
Shares of MediaCo Holding Inc. MDIA got a boost, shooting 23% to $7.80.
Bon Natural Life Limited BON shares were also up, gaining 21% to $14.92. Bon Natural Life said it 'broke ground' on its third production facility in Yumen City's Material Chemical Industrial Park.
Equities Trading DOWN
Annovis Bio, Inc. ANVS shares tumbled 51% to $53.49 after the company presented new clinical and biomarker data at the 2021 Alzheimer's Association International Conference.
Shares of Atreca, Inc. BCEL were down 34% to $5.39 after the company announced initial data from the dose escalation portion of its ongoing Phase 1b trial evaluating ATRC-101 in select solid tumor types, showing the investigational asset was well-tolerated. Preliminary biomarker data supported the proposed mechanism of action found in preclinical studies.
Cassava Sciences, Inc. SAVA was down, falling 17% to $111.64. S&P Cassava Sciences reported positive biomarker data from an open-label study of simufilam, its investigational drug for the treatment of Alzheimer’s disease.
In commodity news, oil traded up 0.6% to $72.80, while gold traded up 1.5% to $1,826.50.
Silver traded up 3.2% Thursday to $25.66 while copper rose 1.1% to $4.5320.
European shares were higher today. The eurozone’s STOXX 600 rose 0.4%, the Spanish Ibex Index rose 1% and the German DAX 30 gained 0.4%. Meanwhile, the London’s FTSE 100 rose 0.9%, French CAC 40 climbed 0.8% and Italy’s FTSE MIB climbed 0.9%.
The consumer confidence indicator in the Eurozone was confirmed at -4.4 in July, while services confidence indicator climbed to 19.3 in July. The industry confidence indicator in the Eurozone increased to 14.6 in July.
Producer prices in Italy surged 9.1% year-over-year in June. Consumer credit in the UK rose by GBP 0.31 billion in June, while UK factories produced 69,097 cars during June. Spain's unemployment rate fell to 15.26% in the second quarter from 15.98% in the prior three-month period, while annual inflation rate increased to 2.9% in July. French industrial producer increased 1.1% in June, while German unemployment rate stood at 3.7% in June.
The US economy grew an annualized 6.5% on quarter during the second quarter, down from market estimates of 8.5%.
US initial jobless claims fell to 400,000 in the week ending July 24th.
The pending home sales index dropped 1.9% year-over-year 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.
The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
The Treasury will auction 7-year notes at 1:00 p.m. ET.
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