Nasdaq Jumps Over 100 Points; US Jobless Claims Fall To 187,000

U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining more than 100 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.33% to 37,143.30 while the NASDAQ rose 0.97% to 15,000.30. The S&P 500 also rose, gaining, 0.43% to 4,759.68.

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Leading and Lagging Sectors

Information technology shares rose by 1.4% on Thursday.

In trading on Thursday, health care shares dipped by 0.9%.

Top Headline

U.S. initial jobless claims fell by 16,000 to 187,000 in the week ending January 18, compared to market estimates of 207,000.

Equities Trading UP

Agrify Corporation AGFY shares shot up 133% to $2.75. Agrify said it entered into first Hydrocarbon Extraction Lab & Vertical Farming unit facility in California.

Shares of Lytus Technologies Holdings PTV. Ltd. LYT got a boost, surging 114% to $0.2032 after falling 5% on Wednesday.

Celularity Inc. CELU shares were also up, gaining 59% to $0.3013 after falling more than 5% on Wednesday.

Equities Trading DOWN

Aravive, Inc. ARAV shares dropped 51% to $0.0541. Aravive intends to voluntarily terminate the listing of its common stock on the Nasdaq Global Select Market.

Shares of Processa Pharmaceuticals, Inc. PCSA were down 29% to $0.1963. Processa Pharmaceuticals said it will effect a 1-for-20 reverse stock split.

Newcourt Acquisition Corp NCAC was down, falling 25% to $8.75 after gaining around 12% on Wednesday.

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Commodities

In commodity news, oil traded up 0.7% to $73.05 while gold traded up 0.4% at $2,014.30.

Silver traded down 0.4% to $22.585 on Thursday while copper fell 0.4% to $3.72.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.5%, London’s FTSE 100 rose 0.2% while Spain’s IBEX 35 Index rose 0.3% The German DAX gained 0.6% French CAC 40 rose 1% while Italy’s FTSE MIB Index climbed 1%.

Construction output in the Eurozone fell by 2.2% year-over-year in November, while current account surplus rose to EUR 31.7 billion in November versus a revised EUR 6.6 billion in the year-ago period. Passenger car registrations in the European Union declined 3.3% year-over-year to 867.1 thousand units in December.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 falling 0.03%, Hong Kong’s Hang Seng Index gaining 0.75% and China’s Shanghai Composite Index gaining 0.43%. India’s S&P BSE Sensex, meanwhile, fell 0.44%.

Hong Kong’s seasonally adjusted unemployment rate came in unchanged at 2.9% in the three months ending December. Industrial production in Japan fell by 0.9% from a month ago in November, while Japan's core machinery orders declined 4.9% month-over-month in November.

Economics

U.S. initial jobless claims fell by 16,000 to 187,000 in the week ending January 18, compared to market estimates of 207,000.

The Philadelphia Fed Manufacturing Index increased 2.2 points to a reading of -10.6 in January from -12.8 a month ago, versus market estimates of -7.

Housing starts fell 4.3% month-over-month to an annualized rate of 1.46 million in December, while building permits increased by 1.9% to an annual rate of 1.495 million in December.

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