U.S. stocks traded higher this morning, with the Dow Jones index gaining over 250 points on Thursday.
Following the market opening Thursday, the Dow traded up 0.47% to 52,553.59 while the NASDAQ rose 0.32% to 26,124.28. The S&P 500 also rose, gaining, 0.41% to 7,513.76.
Leading and Lagging Sectors
Consumer staples shares jumped by 1.1% on Thursday.
In trading on Thursday, communication services stocks fell by 0.4%.
Top Headline
The U.S. labor market cooled in June with employers adding 57,000 jobs, falling short of the 110,000 economists had expected and sharply decelerating from May’s reading of 129,000.
The unemployment rate edged down to 4.2%, below the 4.3% consensus.
Equities Trading UP
- CaliberCos Inc (NASDAQ:CWD) shares shot up 80% to $1.16 after the company announced the next phase of its real estate fund tokenization strategy using the Chainlink platform.
- Shares of Liminatus Pharma Inc (NASDAQ:LIMN) got a boost, surging 65% to $0.19 after Liminatus amended and restated its merger agreement with InnocsAI LLC, a cell-therapy developer, on Tuesday.
- StablecoinX Inc. (NASDAQ:USDE) shares were also up, gaining 60% to $3.32. The company launched its flagship infrastructure software platform, StablecoinX Harness.
Equities Trading DOWN
- Linkhome Holdings Inc (NASDAQ:LHAI) shares dropped 40% to $1.64. Linkhome Holdings shares jumped 315% on Wednesday after the company announced it has completed the acquisition of 100% of the equity interests of Mortgage One Group.
- Shares of Token Cat Limited (NASDAQ:TC) were down 43% to $2.73 after gaining 159% on Wednesday.
- Eason Technology Limited (NYSE:DXF) was down, falling 30% to $0.6123 after jumping over 140% on Wednesday. The company issued a statement saying it is not aware of any material non-public information behind recent unusual trading activities.
Commodities
In commodity news, oil traded down 1.2% to $67.77 while gold traded up 1.2% at $4,132.60.
Silver traded up 1.9% to $61.640 on Thursday, while copper rose 0.3% to $6.1970.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 1.3%, while Spain’s IBEX 35 Index gained 1.7%. London’s FTSE 100 rose 1.1%, Germany’s DAX gained 1.8%, while France’s CAC 40 climbed 1.5%.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 falling 2.47%, Hong Kong’s Hang Seng index gaining 0.76%, China’s Shanghai Composite dipping 2.03% and India’s BSE Sensex gaining 0.75%.
Economics
- The U.S. labor market cooled in June with employers adding 57,000 jobs, falling short of the 110,000 economists had expected and sharply decelerating from May’s reading of 129,000.
- The unemployment rate edged down to 4.2%, below the 4.3% consensus.
- Average hourly earnings rose 0.3% on the month, matching the 0.3% expected, and were up 3.5% from a year earlier. Economists had looked for annual wage growth to quicken from 3.4% to 3.5%.
- U.S. initial jobless claims declined by 1,000 from the previous week in the final week of June, recording the lowest level in five weeks, and compared to market estimates of 220,000.
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