Dow Jumps 250 Points; US Weekly Jobless Claims Edge Higher

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

Following the market opening Thursday, the Dow traded up 0.72% to 37,348.90 while the NASDAQ rose 0.96% to 14,919.80. The S&P 500 also rose, gaining, 0.78% to 4,734.96.

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Leading and Lagging Sectors

Information technology shares jumped by 1.1% on Thursday.

In trading on Thursday, energy shares rose by just 0.3%.

Top Headline

U.S. initial jobless claims rose by 2,000 to 205,000 in the week ending Dec. 16, compared to market expectations of 215,000.

Equities Trading UP

Infrared Cameras Holdings, Inc. MSAI shares shot up 112% to $5.57 after falling over 61% on Wednesday.

Shares of HOOKIPA Pharma Inc. HOOK got a boost, surging 54% to $0.8689 after the company announced a $21.25 million equity investment from Gilead Sciences.

DMK Pharmaceuticals Corporation DMK shares were also up, gaining 47% to $0.8697. DMK Pharmaceuticals regained full rights to commercialize ZIMHI after the termination of an exclusive commercialization and distribution with US WorldMeds, LLC.

Equities Trading DOWN

Polished.com Inc. POL shares dropped 42% to $4.36 after jumping 618% on Wednesday.

Shares of Clene Inc. CLNN were down 38% to $0.32. Clene reported new data from 12-month long-term open label extension of CNM-Au8 treatment arm in HEALEY ALS platform trial.

Nogin, Inc. NOGN was down, falling 32% to $0.0764 after dipping over 30% on Wednesday.

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Commodities

In commodity news, oil traded down 1.6% to $73.04 while gold traded up 0.2% at $2,051.80.

Silver traded down 0.4% to $24.545 on Thursday while copper rose 0.4% to $3.9210.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.2%, London’s FTSE 100 fell 0.4% while Spain’s IBEX 35 Index rose 0.01% The German DAX fell 0.2% French CAC 40 fell 0.2%, while Italy’s FTSE MIB Index fell 0.4%.

The manufacturing climate indicator in France climbed to 100 in December versus 99 in the prior month. Industrial producer prices in Italy fell 12.6% year-over-year in November following a 9.5% decline a month ago.

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan’s Nikkei 225 falling 1.59%, Hong Kong’s Hang Seng Index gaining 0.04% and China’s Shanghai Composite Index gaining 0.57%. India’s S&P BSE Sensex, meanwhile, rose 0.51%.

The annual inflation rate in Hong Kong fell to 2.6% in November compared to October’s one-year high level of 2.7%. Hong Kong’s current account surplus shrank to HKD 103.6 billion in the third quarter compared to HKD 117.3 billion in the year-ago period.

Economics

The Philadelphia Fed Manufacturing Index in the U.S. fell to -10.5 in December from -5.9 in the previous month.

Corporate profits in the U.S. increased by 3.7% from the prior period to $2.698 trillion in the third quarter.

U.S. initial jobless claims rose by 2,000 to 205,000 in the week ending Dec. 16, compared to market expectations of 215,000.

The U.S. economy grew an annualized 4.9% in the third quarter, down from 5.2% in the second estimate, but matching the 4.9% reading in the advance estimate.

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