U.S. stocks traded mostly higher this morning, with the Nasdaq Composite gaining more than 150 points on Thursday.
Following the market opening Thursday, the Dow traded down 0.04% to 44,174.56 while the NASDAQ gained 0.83% to 21,345.90. The S&P 500 also rose, gaining, 0.32% to 6,365.19.
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Leading and Lagging Sectors
Information technology shares jumped by 1% on Thursday.
In trading on Thursday, health care stocks fell by 1.7%.
Top Headline
ConocoPhillips (NYSE:COP) reported better-than-expected earnings for the second quarter on Thursday.
The company posted quarterly earnings of $1.42 per share which beat the analyst consensus estimate of $1.40 per share. The company reported quarterly sales of $14.740 billion which beat the analyst consensus estimate of $14.626 billion r.
Equities Trading UP
- CIMG Inc. (NASDAQ:IMG) shares shot up 180% to $0.56 after the company announced that its subsidiary Shanghai Huomao Cultural Development Co., Ltd. (“Huomao”) has officially launched its premium Maotai-style liquor, Huomao Jiangxiang Baijiu, on major Chinese e-commerce platforms. The company also revealed it has initiated global partnership recruitment and appointed brand ambassadors in several countries such as Singapore, Kazakhstan, Japan, Germany and Italy.
- Shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT) got a boost, surging 49% to $2.1250 after the company announced better-than-expected quarterly results.
- Bit Origin Ltd (NASDAQ:BTOG) shares were also up, gaining 46% to $0.4867.
Equities Trading DOWN
- Sabre Corporation (NASDAQ:SABR) shares dropped 37% to $1.8950 after the company reported worse-than-expected quarterly financial results.
- Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) were down 29% to $3.0350 after the company reported the pricing of public offering.
- Redwire Corporation (NYSE:RDW) was down, falling 28% to $9.93 after the company reported worse-than-expected second-quarter financial results and cut its FY25 sales guidance.
Commodities
In commodity news, oil traded down 0.1% to $64.34 while gold traded up 0.4% at $3,446.60.
Silver traded up 1.5% to $38.450 on Wednesday, while copper rose 0.2% to $4.4220.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.8%, while Spain's IBEX 35 Index gained 0.7%. London's FTSE 100 fell 0.8%, Germany's DAX 40 gained 1.2% and France's CAC 40 rose 1% during the session.
Asia Pacific Markets
Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 0.65%, Hong Kong's Hang Seng gaining 0.69%, China's Shanghai Composite gaining 0.16% and India's BSE Sensex rising 0.1%.
Economics
- U.S. wholesale inventories increased by 0.1% month-over-month to $906.3 billion in June following a 0.3% decline in the previous month.
- U.S. unit labor costs in the nonfarm business sector climbed by 1.6% in the second quarter.
- U.S. labor productivity in the nonfarm business sector surged by 2.4% in second quarter.
- U.S. initial jobless claims surged by 7,000 to 226,000 in the final week of July, compared to market expectations of a reading of 221,000.
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