🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Nasdaq Jumps 250 Points; Crude Oil Down 1%

Published 11/04/2024, 20:21
Updated 11/04/2024, 21:40
© Reuters.  Nasdaq Jumps 250 Points; Crude Oil Down 1%

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite surging more than 250 points on Thursday.

The Dow traded up 0.18% to 38,532.50 while the NASDAQ rose 1.63% to 16,433.83. The S&P 500 also rose, gaining, 0.83% to 5,203.26.

Check This Out: How To Earn $500 A Month From Citigroup Stock Ahead Of Q1 Earnings Report

Leading and Lagging Sectors

Information technology shares rose by 2.2% on Thursday.

In trading on Thursday, energy shares fell by 0.3%.

Top Headline

Constellation Brands Inc (NYSE: STZ) reported better-than-expected fourth-quarter earnings.

Constellation Brands reported fourth-quarter FY24 sales growth of 7.1% year-on-year to $2.14 billion, beating the analyst consensus estimate of $2.10 billion. Comparable EPS, excluding Canopy EIE, was $2.30. Comparable EPS of $2.26 beat the consensus estimate of $2.09.

Equities Trading UP

Rallybio Corporation (NASDAQ: RLYB) shares shot up 87% to $3.0419 after the company announced a collaboration with Johnson & Johnson to advance therapeutics for pregnant individuals at risk of FNAIT.

Shares of Eliem Therapeutics, Inc. (NASDAQ: ELYM) got a boost, surging 58% to $4.2153. The company announced that it entered into a definitive acquisition agreement to acquire Tenet and it also entered into a securities purchase agreement for a $120 million private placement.

Rent the Runway, Inc. (NASDAQ: RENT) shares were also up, gaining 128% to $16.88 after the company reported mixed fourth-quarter financial results and issued guidance.

Equities Trading DOWN

Aptevo Therapeutics Inc. (NASDAQ: APVO) shares dropped 59% to $0.9870 after the company priced its $4.6 million public offering.

Shares of Enlivex Therapeutics Ltd. (NASDAQ: ENLV) were down 54% to $1.83. The company announced topline results of its Phase II trial evaluating Allocetra in sepsis.

AVITA Medical, Inc. (NASDAQ: RCEL) was down, falling 29% to $10.20 after the company announced an update to its expected commercial revenue for the first quarter of 2024. BTIG downgraded the stock from Buy to Neutral.

Also Check This Out: Top 3 Financial Stocks That Are Ticking Portfolio Bombs


In commodity news, oil traded down 1.1% to $85.29 while gold traded up 1.3% at $2,379.80.

Silver traded up 1.4% to $28.430 on Thursday, while copper fell 0.5% to $4.2605.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.40%, London’s FTSE 100 fell 0.47% while Spain’s IBEX 35 Index fell 1.16% The German DAX fell 0.79% French CAC 40 fell 0.27% while Italy’s FTSE MIB Index fell 0.96%.

The European Central Bank kept interest rates unchanged for a fifth straight time during its April meeting.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 falling 0.35%, Hong Kong’s Hang Seng Index dropping 0.26%, China’s Shanghai Composite gaining 0.23% and India’s S&P BSE Sensex gaining 0.47%.

China's consumer prices rose 0.1% year-over-year in March, while producer prices fell by 2.8% year-over-year in March.


Producer prices in the U.S. rose 0.2% month-over-month in March compared to a 0.6% gain in February. However, analysts were expecting a gain of 0.3%.

U.S. initial jobless claims declined by 11,000 to 211,000 in the week ending April 6, compared to market estimates of 215,000.

Now Read This: Citigroup Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

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

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.