U.S. stocks traded lower this morning, with the Dow Jones dropping over 200 points on Thursday.
Following the market opening Thursday, the Dow traded down 0.70% to 33,318.50 while the NASDAQ fell 1.25% to 11,044.04. The S&P 500 also fell, dropping, 1.08% to 3,915.88.
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Leading and Lagging Sectors
Consumer staples shares fell by just 0.4% on Thursday. Leading the sector was strength from RLX Technology Inc. RLX and Dole plc DOLE.
In trading on Thursday, communication services dipped by 1.9%.
US jobless claims dropped by 4,000 to 222,000 on the week ending November 12th, compared to market estimates of 225,000.
Equities Trading UP
- Bath & Body Works, Inc. BBWI shares shot up 21% to $37.82 after the company reported better-than-expected Q3 results.
- Shares of Kiora Pharmaceuticals, Inc. KPRX got a boost, shooting 18% to $7.04. Kiora Pharmaceuticals dosed first patient in ABACUS Phase 1b study evaluating KIO-301 for retinitis pigmentosa.
- Cartesian Growth Corporation GLBL shares were also up, gaining 16% to $10.00 after dropping over 15% on Wednesday.
Equities Trading DOWN
- Singularity Future Technology Ltd. SGLY shares tumbled 45% to $1.15.
- Shares of Tenaya Therapeutics, Inc. TNYA were down 24% to $2.41 after the company announced pricing of a public offering of 22,613,307 shares of common stock at a price of $2.60 per share.
- EZCORP, Inc. EZPW was down, falling 11% to $8.68 after the company reported Q4 results.
In commodity news, oil traded down 1.9% to $83.98 while gold traded down 0.8% at $1,761.90.
Silver traded down 2.7% to $20.94 on Thursday while copper fell 2.3% to $3.6860.
European shares were lower today. The eurozone’s STOXX 600 fell 0.7%, London’s FTSE 100 fell 0.4% while Spain’s IBEX 35 Index fell 1.1%. The German DAX fell 0.2%, French CAC 40 fell 0.9% and Italy’s FTSE MIB Index fell 1.1%.
The Eurozone consumer price inflation fell to 10.6% year-over-year in versus a preliminary estimate of 10.7%, while construction output in the region increased 1% year-over-year in September. Passenger car registrations in the European Union surged 12.2% year-over-year to 745,855 units in October.
Spanish trade deficit increased to EUR 6.98 billion in September from EUR 2.39 billion in the year-ago.
Asia Pacific Markets
Asian markets closed lower on Thursday, with the Japan’s Nikkei dropping 0.35% and Hong Kong’s Hang Seng Index falling 1.15%. China’s Shanghai Composite Index fell 0.15%.
Hong Kong’s unemployment rate dropped to 3.8% in the three months ending October. Foreign direct investment into China jumped 14.4% from a year ago to CNY 1.09 trillion during the first ten months of the year. The unemployment rate in Australia fell to 3.4% in October from 3.5% in September. Exports from Japan jumped by 25.3% year-over-year to JPY 9,001.5 billion, while imports to the country climbed 53.5% to a new high of JPY 11,164.8 billion during October.
- US jobless claims dropped by 4,000 to 222,000 on the week ending November 12th, compared to market estimates of 225,000.
- The Philadelphia Fed Manufacturing Index declined to -19.4 in November from -8.7 in the previous month, recording the weakest level since May 2020.
- Housing starts in the US dropped 4.2% month-over-month to an annualized rate of 1.425 million in October, while building permits fell 2.4% to an annual rate of 1.526 million.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 100,054,790 cases with around 1,101,370 deaths. India confirmed a total of at least 44,668,290 cases and 530,540 deaths, while France reported over 37,217,030 COVID-19 cases with 158,000 deaths. In total, there were at least 641,668,210 cases of COVID-19 worldwide with more than 6,620,360 deaths.
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