US Stocks Down; Jobless Claims Rise To 231,000

U.S. stocks traded lower this morning, following the release of jobless claims data.

Following the market opening Thursday, the Dow traded down 0.23% to 34,911.22 while the NASDAQ fell 0.19% to 14,076.92. The S&P 500 also fell, dropping, 0.09% to 4,498.72.

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Leading and Lagging Sectors

Utilities shares surged by 0.8% on Thursday.

In trading on Thursday, energy shares fell by 1.3%.

Top Headline

U.S. initial jobless claims climbed by 13,000 to 231,000 in the week ending Nov. 11, the highest in around three months, and compared to market estimates of 220,000.

Equities Trading UP

Apollomics, Inc. APLM shares shot up 83% to $1.59 after the company reported the first approval of vebreltinib for MET exon 14 skip non-small cell lung cancer.

Shares of WaveDancer, Inc. WAVD got a boost, shooting 74% to $2.6244 after the company inked a definitive merger agreement with Firefly Neuroscience in an all-stock transaction.

Bone Biologics Corporation BBLG shares were also up, gaining 67% to $0.8700.

Equities Trading DOWN

Volcon, Inc. VLCN shares dropped 62% to $0.25 after the company announced pricing of $18 million underwritten public offering.

Shares of Nogin, Inc. NOGN were down 34% to $0.2005.

Velo3D, Inc. VLD was down, falling 24% to $1.0650.

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Commodities

In commodity news, oil traded down 0.9% to $75.97 while gold traded up 0.5% at $1,974.80.

Silver traded up 1.7% to $23.940 on Thursday while copper rose 0.4% to $3.7330.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 fell 0.3%, London’s FTSE 100 fell 0.6% while Spain’s IBEX 35 Index rose 0.5% The German DAX rose 0.7% French CAC 40 fell 0.2%, while Italy’s FTSE MIB Index gained 0.2%.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan’s Nikkei 225 falling 0.28%, Hong Kong’s Hang Seng Index falling 1.36% and China’s Shanghai Composite Index declining 0.71%. India’s S&P BSE Sensex, meanwhile, rose 0.5%.

Hong Kong’s unemployment rate rose to 2.9% in the three months ending October, while China's new home prices fell by 0.1% year-over-year during October. Japan's core machinery orders climbed 1.4% month-over-month in September. Japan's trade deficit shrank to JPY 662.55 billion in October from JPY 2,205,94 billion in the year-ago month.

Economics

U.S. initial jobless claims climbed by 13,000 to 231,000 in the week ending Nov. 11, the highest in around three months, and compared to market estimates of 220,000.

Export prices in the U.S. declined 1.1% month-over-month, while import prices fell by 0.8% month-over-month in October.

The Philadelphia Fed Manufacturing Index rose 3.1 points to a reading of -5.9 in November, compared to market estimates of -9.

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