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Dow Surges Over 100 Points; D.R. Horton Posts Upbeat Earnings

Published 18/04/2024, 15:04
© Reuters.  Dow Surges Over 100 Points; D.R. Horton Posts Upbeat Earnings

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stocks traded mixed this morning, with the Dow Jones index gaining more than 100 points on Thursday.

Following the market opening Thursday, the Dow traded up 0.34% to 37,880.89 while the NASDAQ fell 0.16% to 15,658.94. The S&P 500 also rose, gaining, 0.03% to 5,023.87.

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Leading and Lagging Sectors

Communication services shares rose by 0.6% on Thursday.

In trading on Thursday, information technology shares fell by 0.2%.

Top Headline

D.R. Horton, Inc. (NYSE: DHI) reported better-than-expected second-quarter financial results.

D.R. Horton posted GAAP EPS of $3.52, topping market estimates of $3.07. The company’s sales came in at $9.100 billion versus expectations of $8.266 billion.

Equities Trading UP

AGBA Group Holding Limited (NASDAQ: AGBA) shares shot up 165% to $1.07 after the company announced it entered into a definitive merger agreement with Triller.

Shares of Tian Ruixiang Holdings Ltd (NASDAQ: TIRX) got a boost, surging 133% to $1.1299 after gaining around 8% on Wednesday.

Bio-Path Holdings, Inc. (NASDAQ: BPTH) shares were also up, gaining 103% to $6.57 after the company announced the completion of its second dose cohort in Phase 1/1b clinical trial of BP1002 evaluating the ability of BP1002 to treat refractory/relapsed acute myeloid leukemia patients.

Equities Trading DOWN

iLearningEngines Holdings, Inc. (NASDAQ: AILE) shares dropped 30% to $7.05.

Shares of Lithium Americas Corp. (NYSE: LAC) were down 28% to $4.7598 after the company priced a $275 million public offering.

NRx Pharmaceuticals, Inc. (NASDAQ: NRXP) was down, falling 26% to $3.0681. NRx Pharmaceuticals announced pricing of $2 million underwritten public offering of common stock at a public offering price of $3.30 per share.

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In commodity news, oil traded up 0.6% to $83.17 while gold traded up 0.5% at $2,400.

Silver traded up 0.7% to $28.605 on Thursday, while copper rose 1.7% to $4.4145.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.1%, London’s FTSE 100 rose 0.2% while Spain’s IBEX 35 Index gained 0.8% The German DAX slipped 0.1% French CAC 40 climbed 0.2% while Italy’s FTSE MIB Index gained 0.1%.

Construction output in the Eurozone fell by 0.4% from the prior year in February compared to a revised 0.3% decline in the earlier month. The current account surplus in the Eurozone increased to €31.6 billion in February versus €10.7 billion in the year-ago period. Passenger car registrations in the European Union fell 5.2% year-over-year to 1 million units for March.

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan’s Nikkei 225 gaining 0.31%, Hong Kong’s Hang Seng Index gaining 0.82%, China’s Shanghai Composite gaining 0.09% and India’s S&P BSE Sensex falling 0.62%.

Hong Kong’s unemployment rate rose to 3% in the three months ending March from 2.9% in the prior five periods.


The Philadelphia Fed Manufacturing Index increased 12 points to a reading of 15.5 in April, topping market estimates of 1.5.

U.S. initial jobless claims came in unchanged from the previous week at 212,000 for the week ending April 18, down from market expectations of 215,000.

Now Read This: Top 5 Tech And Telecom Stocks That May Rocket Higher This Month

© 2024 Benzinga does not provide investment advice. All rights reserved.

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