Nasdaq Jumps 250 Points; Crude Oil Down 1%

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite surging more than 250 points on Thursday.

The Dow traded up 0.18% to 38,532.50 while the NASDAQ rose 1.63% to 16,433.83. The S&P 500 also rose, gaining, 0.83% to 5,203.26.

Check This Out: How To Earn $500 A Month From Citigroup Stock Ahead Of Q1 Earnings Report

 

Leading and Lagging Sectors

 

Information technology shares rose by 2.2% on Thursday.

In trading on Thursday, energy shares fell by 0.3%.

 

Top Headline

 

Constellation Brands Inc STZ reported better-than-expected fourth-quarter earnings.

Constellation Brands reported fourth-quarter FY24 sales growth of 7.1% year-on-year to $2.14 billion, beating the analyst consensus estimate of $2.10 billion. Comparable EPS, excluding Canopy EIE, was $2.30. Comparable EPS of $2.26 beat the consensus estimate of $2.09.

 

Equities Trading UP

 

Rallybio Corporation RLYB shares shot up 87% to $3.0419 after the company announced a collaboration with Johnson & Johnson to advance therapeutics for pregnant individuals at risk of FNAIT.

Shares of Eliem Therapeutics, Inc. ELYM got a boost, surging 58% to $4.2153. The company announced that it entered into a definitive acquisition agreement to acquire Tenet and it also entered into a securities purchase agreement for a $120 million private placement.

Rent the Runway, Inc. RENT shares were also up, gaining 128% to $16.88 after the company reported mixed fourth-quarter financial results and issued guidance.

 

Equities Trading DOWN

 

Aptevo Therapeutics Inc. APVO shares dropped 59% to $0.9870 after the company priced its $4.6 million public offering.

Shares of Enlivex Therapeutics Ltd. ENLV were down 54% to $1.83. The company announced topline results of its Phase II trial evaluating Allocetra in sepsis.

AVITA Medical, Inc. RCEL was down, falling 29% to $10.20 after the company announced an update to its expected commercial revenue for the first quarter of 2024. BTIG downgraded the stock from Buy to Neutral.

Also Check This Out: Top 3 Financial Stocks That Are Ticking Portfolio Bombs

 

Commodities

 

In commodity news, oil traded down 1.1% to $85.29 while gold traded up 1.3% at $2,379.80.

Silver traded up 1.4% to $28.430 on Thursday, while copper fell 0.5% to $4.2605.

 

Euro zone

 

European shares were lower today. The eurozone’s STOXX 600 fell 0.40%, London’s FTSE 100 fell 0.47% while Spain’s IBEX 35 Index fell 1.16% The German DAX fell 0.79% French CAC 40 fell 0.27% while Italy’s FTSE MIB Index fell 0.96%.

The European Central Bank kept interest rates unchanged for a fifth straight time during its April meeting.

 

Asia Pacific Markets

 

Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 falling 0.35%, Hong Kong’s Hang Seng Index dropping 0.26%, China’s Shanghai Composite gaining 0.23% and India’s S&P BSE Sensex gaining 0.47%.

China's consumer prices rose 0.1% year-over-year in March, while producer prices fell by 2.8% year-over-year in March.

 

Economics

 

Producer prices in the U.S. rose 0.2% month-over-month in March compared to a 0.6% gain in February. However, analysts were expecting a gain of 0.3%.

U.S. initial jobless claims declined by 11,000 to 211,000 in the week ending April 6, compared to market estimates of 215,000.

Now Read This: Citigroup Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

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 StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsTrading IdeasMid Afternoon 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!