Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining over 1% on Thursday.
The Dow traded up 0.26% to 38,762.00 while the NASDAQ rose 1.38% to 16,253.50. The S&P 500 also rose, gaining, 0.91% to 5,151.16.
Check This Out: Top 3 Health Care Stocks That Could Lead To Your Biggest Gains In March
Leading and Lagging Sectors
Materials shares jumped by 1.6% on Thursday.
In trading on Thursday, real estate shares rose by just 0.2%.
Top Headline
BJ’s Wholesale Club Holdings Inc (NYSE: BJ) reported downbeat sales for its fourth quarter.
BJ’s Wholesale reported fourth-quarter FY23 sales growth of 8.7% year-on-year to $5.36 billion, missing the analyst consensus of $5.39 billion. Adjusted EPS of $1.11 beat the analyst consensus estimate of $1.06.
Equities Trading UP
Lytus Technologies Holdings PTV. Ltd. (NASDAQ: LYT) shares shot up 343% to $10.24 after the company announced the launch of Lytus Cloud.
Shares of CERo Therapeutics Holdings, Inc. (NASDAQ: CERO) got a boost, surging 105% to $5.24. CERo Therapeutics announced the publication in clinical cancer research a paper titled "Therapeutic Targeting of TIM-4-L With Engineered T CellsFor Acute Myeloid Leukemia."
Brera Holdings PLC (NASDAQ: BREA) shares were also up, gaining 109% to $2.1299 after the company announced that its Executive Chairman, Daniel McClory, acquired a majority stake in the company.
Equities Trading DOWN
Victoria's Secret & Co. (NYSE: VSCO) shares dropped 30% to $17.96 after reporting fourth-quarter results.
Shares of Methode Electronics, Inc. (NYSE: MEI) were down 27% to $15.28 following weak quarterly results.
Avid Bioservices, Inc. (NASDAQ: CDMO) was down, falling 27% to $6.38 after the company reported certain preliminary third-quarter financial results and announced a proposed $160 million private placement of convertible notes.
Also Check This Out: Wall Street's Most Accurate Analysts' Views On 3 Consumer Stocks Delivering High-Dividend Yields
Commodities
In commodity news, oil traded up 0.1% to $79.19 while gold traded up 0.1% at $2,160.80.
Silver traded up 0.6% to $24.64 on Thursday while copper rose 1.2% to $3.9210.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 1.05%, London’s FTSE 100 rose 0.27% while Spain’s IBEX 35 Index rose 1.31% The German DAX gained 0.70% French CAC 40 rose 0.79% while Italy’s FTSE MIB Index rose 0.26%.
The Halifax House Price Index in the UK increased by 1.7% year-over-year in February. Factory orders in Germany dipped 11.3% month-over-month in January.
Asia Pacific Markets
Asian markets closed mostly lower on Thursday, with Japan’s Nikkei 225 falling 1.23%, Hong Kong’s Hang Seng Index dipping 1.27%, China’s Shanghai Composite Index falling 0.41% and India’s S&P BSE Sensex gaining 0.05%.
Chinese trade surplus widened to $125.16 billion in January-February combined compared to $103.8 billion in the year-ago period. Reserve assets in Japan declined to $1.281 trillion in February versus $1.292 trillion a month ago, while Japan’s average cash earnings rose by 2% year-over-year in January.
Economics
U.S. nonfarm business sector labor productivity rose by 3.2% in the fourth versus a revised 4.9% increase in the third quarter.
Unit labor costs rose an annualized 0.4% in the fourth quarter compared to a 1.1% decline in the prior period.
U.S. initial jobless claims came in unchanged at 217,000 in the latest week, higher than market estimates of 215,000.
U.S.-based companies announced plans to lower 84,638 jobs in February.
The US reported a trade gap of $67.4 billion in January compared to revised $63.5 billion gap in the prior month.
Now Read This: Kroger, Broadcom And 3 Stocks To Watch Heading Into Thursday
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.