U.S. stocks traded mixed this morning, with the Dow Jones dropping around 100 points on Thursday.

The Dow traded down 0.31% to 31,775 while the NASDAQ rose 0.26% to 11,929.11. The S&P also rose, gaining, 0.01% to 3,960.32.

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Leading and Lagging Sectors

Health care shares rose 0.7% on Wednesday. Meanwhile, top gainers in the sector included 1Life Healthcare, Inc. (NASDAQ:ONEM), up 69% and Cano Health, Inc. (NYSE:CANO) up 16%.

In trading on Wednesday, energy shares fell 3.1%.

Top Headline

The ECB increased its three key interest rates by 50bps during its recent meeting, recording the first hike since 2011, in a bid to control the surging inflation level.

Equities Trading UP

Virax Biolabs Group Limited (NASDAQ:VRAX) shares shot up 380% to $24.00. The company offered shares at an expected price of $5.00 per share with an insider lock-up period of 180 days ending on January 17, 2023.

Shares of 1Life Healthcare, Inc. (NASDAQ:ONEM) got a boost, shooting 68% to $17.10 after Amazon announced it will acquire the company for $18 per share in an all-cash transaction valued at approximately $3.9 billion.

Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC) shares were also up, gaining 41% to $3.67 after the company said it expects Q2 sales of $72 – $73 million, exceeding the prior guidance range of $66 – $69 million and the consensus of $67.61 million.

Equities Trading DOWN

LumiraDx Limited (NASDAQ:LMDX) shares tumbled 21% to $1.67 after the company reported pricing of public offering of common shares and concurrent private placement.

Shares of Stronghold Digital Mining, Inc. (NASDAQ:SDIG) were down 18% to $2.64 following a 50% surge on Wednesday.

Insteel Industries, Inc. (NASDAQ:IIIN) was down, falling 15% to $34.81 after the company posted weaker-than-expected Q3 results.

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Commodities

In commodity news, oil traded down 3.6% to $96.27, while gold traded up 0.2% to $1,704.00.

Silver traded down 0.6% to $18.55 on Thursday while copper fell 1.7% to $3.2695.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 rose 0.1%, London’s FTSE 100 fell 0.3% while Spain’s IBEX 35 Index fell 0.3%. The German DAX fell 0.6%, French CAC 40 rose 0.1% and Italy’s FTSE MIB Index fell 1.1%.

The ECB increased its three key interest rates by 50bps during its recent meeting, recording the first hike since 2011, in a bid to control the surging inflation level. The manufacturing climate indicator in France dropped to 106 in July from 108 in the prior month.

Economics

U.S. initial jobless claims climbed by 9,000 to 251,000 the week ended July 16th, recording the highest level since November 2021. Analysts, however, were expecting a reading of 240,000.

The Philadelphia Fed manufacturing index fell for the fourth straight month to -12.3 in July.

The index of leading economic indicators for June will be released at 10:00 a.m. ET. After dropping a sizable 0.4% in both April and May, analysts expect the index declining a further 0.5% in 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.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 91,767,460 cases with around 1,050,700 deaths. India confirmed a total of at least 43,825,180 cases and 525,870 deaths, while Brazil reported over 33,454,290 COVID-19 cases with 676,280 deaths. In total, there were at least 571,833,540 cases of COVID-19 worldwide with more than 6,396,430 deaths.