U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 100 points on Thursday.
Following the market opening Thursday, the Dow traded down 0.41% to 42,278.67 while the NASDAQ fell 0.72% to 17,769.32. The S&P 500 also fell, dropping, 0.56% to 5,680.29.
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Leading and Lagging Sectors
Consumer staples shares jumped by 0.4% on Thursday.
In trading on Thursday, information technology shares fell by 1.2%.
Top Headline
U.S. initial jobless claims fell by 1,000 to 224,000 in the week ending March 22, compared to market estimates of 225,000.
Equities Trading UP
- Lytus Technologies Holdings PTV. Ltd. (NASDAQ:LYT) shares shot up 145% to $0.1527.
- Shares of Greenland Technologies Holding Corporation (NASDAQ:GTEC)got a boost, surging 60% to $2.07 after the company reported a year-over-year increase in FY24 EPS results.
- Dermata Therapeutics, Inc. (NASDAQ:DRMA) shares were also up, gaining 49% to $2.0150 after the company announced topline results from its Phase 3 trial of XYNGARI, which achieved its primary endpoints.
Equities Trading DOWN
- Nxu, Inc. (NASDAQ:NXU) shares dropped 40% to $0.1591 after the company announced a 1-for-20 reverse stock split.
- Shares of Equillium, Inc. (NASDAQ:EQ) were down 38% to $0.4678 after the company announced the results of the Phase 3 EQUATOR study of Itolizumab, which showed that it did not improve complete or overall response rates.
- Auddia Inc. (NASDAQ:AUUD) was down, falling 33% to $0.2250 after the company announced a 1-for-17 reverse stock split.
Commodities
In commodity news, oil traded down 0.3% to $69.41 while gold traded up 0.9% at $3,048.90.
Silver traded up 1% to $34.555 on Thursday, while copper fell 2% to $5.1410.
Euro zone
European shares were lower today. The eurozone's STOXX 600 dipping 0.84%, Germany's DAX 40 fell 1.2% and France's CAC 40 dipped 0.7%. Spain's IBEX 35 Index fell 0.14%, while London's FTSE 100 fell 0.8%.
Asia Pacific Markets
Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 falling 0.60%, China's Shanghai Composite Index gaining 0.15%, Hong Kong's Hang Seng Index rising 0.41% and India's BSE Sensex rising 0.41%.
Economics
- U.S. initial jobless claims fell by 1,000 to 224,000 in the week ending March 22, compared to market estimates of 225,000.
- The U.S. economy grew by an annualized rate of 2.4% in the fourth quarter, up from 2.3% in the prior estimates.
- U.S. wholesale inventories increased by 0.3% month-over-month to $903 billion in February compared to a 0.8% gain in the prior month.
- The U.S. trade deficit in goods shrank to $147.91 billion in February from a revised record level of $155.6 billion in the prior month.
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