Market News

Dow Jones Industrial Average Gains as Retail Sales DeclineDow Jones Industrial Average Gains as Retail Sales Decline

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.

Check This Out: Amazon, AutoNation And 2 Other Stocks Insiders Are Selling

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%.

See also  The Battle for Intel Supremacy: Analyzing AMD's Outlook in the Next 5 YearsThe Battle for Intel Supremacy: Analyzing AMD's Outlook in the Next 5 Years

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.

Now Read This: Uber To Rally Around 14%? Here Are 10 Top Analyst Forecasts For Thursday