U.S. stocks traded higher this morning, with the Dow Jones gaining over 150 points on Thursday.
Following the market opening Thursday, the Dow traded up 0.49% to 33,763.59 while the NASDAQ rose 0.35% to 10,997.36. The S&P 500 also rose, gaining, 0.43% to 3,950.66.
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Leading and Lagging Sectors
Energy shares rose by 2% on Thursday. Meanwhile, top gainers in the sector included Transocean Ltd. RIG, up 9%, and Ardmore Shipping Corporation ASC, up 5%.
In trading on Thursday, utilities shares dipped by 0.3%.
Top Headline
US initial jobless claims rose by 4,000 to 230,000 in the week ending December 3, matching market estimates.
Equities Trading UP
- Pharvaris N.V. PHVS shares shot up 90% to $4.97 after the company reported top-line Phase 2 data from the RAPIDe-1 study of PHVS416 for the on-demand treatment of HAE attacks. The primary endpoint and all secondary endpoints were met.
- Shares of Hello Group Inc. MOMO got a boost, shooting 35% to $7.10 after the company reported better-than-expected Q3 results.
- Ciena Corporation CIEN shares were also up, gaining 18% to $51.06 after the company reported better-than-expected Q4 sales results.
Equities Trading DOWN
- Eiger BioPharmaceuticals, Inc. EIGR shares tumbled 74% to $0.9949 after the company announced topline primary Week 48 data from its Phase 3 D-LIVR study of lonafarnib in two regimens in patients with chronic Hepatitis Delta Virus (HDV).
- Shares of Relmada Therapeutics, Inc. RLMD were down 56% to $1.85 after the company said the RELIANCE trial for REL-1017 did not meet the primary endpoint.
- Design Therapeutics, Inc. DSGN was down, falling 42% to $7.42 after the company reported data from its single-ascending dose trial of DT-216 for the treatment of Friedreich ataxia and portfolio progress.
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Commodities
In commodity news, oil traded up 2.2% to $73.62 while gold traded up 0.1% at $1,798.80.
Silver traded up 1.3% to $23.23 on Thursday while copper rose 0.9% to $3.8935.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.4%, London’s FTSE 100 fell 0.2% while Spain’s IBEX 35 Index fell 0.7%. The German DAX declined 0.4%, French CAC 40 fell 0.4% and Italy’s FTSE MIB Index fell 0.3%.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with the Japan’s Nikkei dropping 0.40% and Hong Kong’s Hang Seng Index jumping 3.38%. China’s Shanghai Composite Index fell 0.07%.
The gauge for Japan's service sector sentiment fell by 1.8 points from the previous month to 48.1 in November, while value of loans in Japan climbed 2.7% year-over-year in November. Japan recorded a deficit of JPY 64.1 billion in October, while the country’s economy contracted an annualized 0.8% during the third quarter.
Economics
US initial jobless claims rose by 4,000 to 230,000 in the week ending December 3, matching market estimates.
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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 101,104,270 cases with around 1,108,810 deaths. India confirmed a total of at least 44,675,280 cases and 530,640 deaths, while France reported over 38,259,830 COVID-19 cases with 159,450 deaths. In total, there were at least 651,761,810 cases of COVID-19 worldwide with more than 6,652,430 deaths.
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