Nasdaq Gains 100 Points; Rent the Runway Shares Spike Higher

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining over 100 points on Thursday.

The Dow traded up 0.61% to 33,803.12 while the NASDAQ rose 0.93% to 11,060.62. The S&P 500 also rose, gaining, 0.63% to 3,958.60.

Also check this: Why These Lululemon Analysts Have Boosted Their Price Targets Ahead Of Earnings


Leading and Lagging Sectors


Information technology shares rose by 1.3% on Thursday. Meanwhile, top gainers in the sector included Agora, Inc. API, up 20%, and Ciena Corporation CIEN, up 20%.


In trading on Thursday, communication services shares dipped by 0.6%.


Top Headline

 

US natural-gas supplies dropped 21 billion cubic feet last week, the EIA said.

 

Equities Trading UP

 

  • Pharvaris N.V. PHVS shares shot up 65% to $4.3099 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 34% to $7.05 after the company reported better-than-expected Q3 results.
  • Rent the Runway, Inc. RENT shares were also up, gaining 48% to $1.9906 after the company reported better-than-expected Q3 sales results. The company also issued Q4 sales guidance above analyst estimates and raised its FY22 sales guidance above estimates.

 

Equities Trading DOWN

  • Eiger BioPharmaceuticals, Inc. EIGR shares tumbled 71% to $1.1001 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 46% to $2.26 after the company said the RELIANCE trial for REL-1017 did not meet the primary endpoint.
  • Design Therapeutics, Inc. DSGN was down, falling 43% to $7.24 after the company reported data from its single-ascending dose trial of DT-216 for the treatment of Friedreich ataxia and portfolio progress.


Also check out: Robinhood, NetApp And These 2 Other Stocks Insiders Are Selling


Commodities

In commodity news, oil traded up 0.3% to $72.21 while gold traded up 0.3% at $1,802.50.


Silver traded up 1.7% to $23.305 on Thursday while copper rose 0.5% to $3.8780.

 


Euro zone


European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.02%, London’s FTSE 100 fell 0.16% while Spain’s IBEX 35 Index fell 0.58%. The German DAX gained 0.16%, French CAC 40 fell 0.01% and Italy’s FTSE MIB Index rose 0.01%.

 

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.
  • US natural-gas supplies dropped 21 billion cubic feet last week, the EIA said.

 

Check out this: CBOE Volatility Index Settles At Highest Level Since November 18


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.

Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsMid-Day Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...