Nasdaq Surges 100 Points; Tesla Beats Q4 Views

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining over 100 points on Thursday.

Following the market opening Thursday, the Dow traded up 0.24% to 33,824.53 while the NASDAQ rose 1.05% to 11,432.45. The S&P 500 also rose, gaining, 0.54% to 4,037.88.

Check This Out: Benzinga's Most Accurate Analysts Say Buy These 3 Defensive Stocks Delivering High-Dividend Yields

 

Leading and Lagging Sectors

  • Consumer discretionary shares rose by 1.9% on Thursday. Meanwhile, top gainers in the sector included Boot Barn Holdings, Inc. BOOT, up 8%, and Tesla, Inc. TSLA, up 9%.
  • In trading on Thursday, utilities shares fell by 0.4%.

 

Top Headline

Tesla Inc TSLA reported better-than-expected fourth-quarter results

Tesla reported fourth-quarter total vehicle production of 439,701, up some 44% year-over-year. Fourth-quarter deliveries came in at 405,278, up 31% year-over-year.

 

Equities Trading UP

  • Qualtrics International Inc. XM shares shot up 29% to $14.47 after the company reported better-than-expected Q4 results and issued Q1 revenue guidance above estimates.
  • Shares of Nemaura Medical Inc. NMRD got a boost, shooting 22% to $3.2250 after the company received first purchase order from U.S. health provider HealthFleet Inc.
  • TC Biopharm (Holdings) Plc TCBP shares were also up, gaining 12% to $4.5098. HC Wainwright & Co. initiated coverage on TC BioPharm with a Buy rating and announced a price target of $9.

 

Equities Trading DOWN

  • Panbela Therapeutics, Inc. PBLA shares tumbled 36% to $1.74 after the company reported pricing of $15 million public offering at $2.75 per share.
  • Shares of Ocuphire Pharma, Inc. OCUP were down 21% to $2.9850 after the company reported topline results from ZETA-1 Phase 2 trial of oral APX3330 in diabetic retinopathy and plans for end-of-Phase 2 meeting with the FDA. HC Wainwright & Co maintained Ocuphire Pharma with a Buy and lowered the price target from $26 to $20.
  • NeoVolta Inc. NEOV was down, falling 19% to $2.2001.

Also Check This Out: 5 Most Expensive Financial Stocks You Should Worry About

 

Commodities

In commodity news, oil traded up 2.2% to $81.87 while gold traded down 0.4% at $1,935.30.

Silver traded up 0.4% to $24.025 on Wednesday while copper rose 0.2% to $4.2510.

 

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.6%, London’s FTSE 100 rose 0.3% while Spain’s IBEX 35 Index rose 0.9%. The German DAX gained 0.2% French CAC 40 rose 0.9% and Italy’s FTSE MIB Index rose 1.2%.

Labor productivity in the UK increased by 0.1% on quarter during the three months to September, while car production in the country declined 17.9% year-over-year in December.

Consumer confidence in Italy fell to 100.9 in January versus an 11-month high level of 102.5 in the prior month, while manufacturing confidence rose to 102.7 from 101.5. Spain's unemployment rate increased to 12.87% in the fourth quarter from 12.67% in the prior period.

 

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 dropping 0.12% and Hong Kong’s Hang Seng Index gaining 2.37%.

Hong Kong trade deficit increased to $51.6 billion in December versus $32.8 billion in the year-ago period. Singapore’s manufacturing production dropped by 3.1% year-over-year in December.

 

Economics

  • The US GDP grew by 2.1% in 2022, compared to a 5.9% expansion in 2021.
  • The Chicago Fed National Activity Index rose to -0.49 in December from -0.51 in the prior month.
  • The US trade deficit in goods increased to $90.3 billion in December versus a near two-year low level of $82.9 billion a month ago.
  • Durable goods orders in the US climbed 5.6% month-over-month in December.
  • US jobless claims dropped by 6,000 from the prior week to 186,000 in the week ending Jan. 21, 2023.
  • Building permits in the US dropped 1.0% from a month ago to an annual rate of 1.337 million in December.
  • Wholesale inventories rose 0.1% in December, totalling $934.1 billion.

Now Read This: Volatility In Markets Decreases, S&P 500 Closes Slightly Lower

 

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 104,015,450 cases with around 1,130,960 deaths. India confirmed a total of at least 44,682,330 cases and 530,730 deaths, while France reported over 39,498,180 COVID-19 cases with 164,000 deaths. In total, there were at least 674,133,160 cases of COVID-19 worldwide with more than 6,752,550 deaths.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesGlobalIntraday UpdateMarketsMid-Morning 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!