U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 250 points on Thursday.

Following the market opening Thursday, the Dow traded up 0.82% to 33,548.07 while the NASDAQ rose 1.22% to 13,220.75. The S&P 500 also rose, gaining, 1.13% to 4,285.68.

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Leading and Lagging Sectors

Real estate shares jumped by 2.2% on Thursday.

In trading on Thursday, consumer staples shares rose by just 0.4%.

Top Headline

U.S. initial jobless claims increased by 5,000 to 217,000 in the week ending Oct. 28, compared to market estimates of 210,000.

Equities Trading UP

Panbela Therapeutics, Inc. (NASDAQ:PBLA) shares shot up 44% to $1.1301. Panbela announced the publication of preclinical and clinical data from studies of CPP-1X (also known as α-Difluoromethylornithine (DFMO) or Eflornithine) in recent onset type 1 diabetes (T1D).

Shares of Rocky Brands, Inc. (NASDAQ:RCKY) got a boost, shooting 41% to $17.73 after the company reported better-than-expected third-quarter financial results.

Lemonade, Inc. (NYSE:LMND) shares were also up, gaining 36% to $14.92 following strong third-quarter results.

Equities Trading DOWN

Outlook Therapeutics, Inc. (NASDAQ:OTLK) shares dropped 45% to $0.3492. Outlook Therapeutic said 'the FDA informed Outlook Therapeutics that an additional adequate and well-controlled clinical trial would be required for the approval of ONS-5010 for the treatment of wet AMD.'

Shares of Confluent, Inc. (NASDAQ:CFLT) were down 44% to $15.78 after the company reported third-quarter financial results.

Remitly Global, Inc. (NASDAQ:RELY) was down, falling 29% to $19.68 after the company reported mixed third-quarter financial results.

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Commodities

In commodity news, oil traded up 1.4% to $81.53 while gold traded up 0.4% at $1,996.10.

Silver traded up 1.6% to $23.145 on Thursday while copper rose 0.5% to $3.6660.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 1.5%, London’s FTSE 100 rose 1.3% while Spain’s IBEX 35 Index rose 1.7% The German DAX gained 1.5% French CAC 40 climbed 1.9%, while Italy’s FTSE MIB Index jumped 1.7%.

The HCOB Eurozone manufacturing PMI fell to 43.1 in October from 43.4 in September. The S&P Global France manufacturing PMI was revised higher to 42.8 in October from a preliminary reading of 42.6.

German jobless rate increased to 5.8% in October from 5.7% in September, while German manufacturing PMI was revised higher to 40.8 in October versus a preliminary level of 40.7. The Bank of England held its benchmark interest rate at 5.25% for the second straight time at its November meeting.

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan’s Nikkei 225 rising 1.10%, Hong Kong’s Hang Seng Index gaining 0.75% and China’s Shanghai Composite Index falling 0.45%. India’s S&P BSE Sensex, meanwhile, rose around 0.77%.

The Hong Kong Monetary Authority held its base rate at 5.75% during its recent meeting. Australian trade surplus on goods narrowed to a 30-month low level of AUD 6.79 billion in September.

Economics

U.S. initial jobless claims increased by 5,000 to 217,000 in the week ending Oct. 28, compared to market estimates of 210,000.

Unit labor costs in the U.S. nonfarm business sector fell by 0.8% in the third quarter versus a revised 3.2% rise in the prior three-month period.

Nonfarm business sector labor productivity surged by 4.7% in the third quarter following a revised 3.6% increase in the third quarter.

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