U.S. stocks traded higher this morning on Thursday, following the release of economic reports.
Following the market opening Thursday, the Dow traded up 0.26% to 38,525.18 while the NASDAQ rose 0.01% to 15,860.35. The S&P 500 also rose, gaining, 0.19% to 5,010.23.
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Market Movement
Real estate shares rose by 0.9% on Thursday, while communication services shares fell by 0.4%.
Retail Sales Decline
U.S. retail sales fell 0.8% month-over-month in January compared to a revised 0.4% increase in December, and versus market estimates of a 0.1% fall.
Stocks on the Move
JX Luxventure Limited JXJT shares shot up 365% to $6.05 following H1 results.
Shares of Dunxin Financial Holdings Limited DXF got a boost, surging 270% to $1.35 after gaining around 5% on Wednesday.
Nano-X Imaging Ltd. NNOX shares were also up, gaining 79% to $11.35.
Earlyworks Co., Ltd ELWS shares dropped 39% to $0.80.
Shares of Treasure Global Inc. TGL were down 36% to $0.1011 following second-quarter results.
Renalytix Plc RNLX was down, falling 28% to $0.8699 after the company posted weak quarterly sales.
Commodities Update
In commodity news, oil traded down 1.2% to $76.95 while gold traded down 0.1% at $2,004.50. Silver traded up 1.2% to $22.425 on Thursday while copper fell 0.3% to $3.6985.
Global Markets Overview
European shares were mostly higher, with the eurozone’s STOXX 600 gaining 0.50%, London’s FTSE 100 rose 0.75% while Spain’s IBEX 35 Index fell 0.09% The German DAX rose 0.38% French CAC 40 rose 0.68% while Italy’s FTSE MIB Index rose 0.63%.
Asian markets closed higher on Thursday, with Japan’s Nikkei 225 gaining 1.21%, Hong Kong’s Hang Seng Index rising 0.41%, China’s Shanghai Composite Index gaining 1.28% and India’s S&P BSE Sensex gaining 0.32%.
Economic Indicators
The NY Empire State Manufacturing Index rose to -2.4 in February from -43.7 in the previous month and compared to market estimates of -15.
The Philadelphia Fed Manufacturing Index increased 16 points to a reading of 5.2 in February, versus market expectations of -8.
Export prices in the U.S. rose 0.8% month-over-month in January, while U.S. import prices increased by 0.8%.
U.S. initial jobless claims declined by 8,000 from the previous week’s revised reading to 212,000 during the period ending Feb. 9, versus market expectations of 220,000.
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