U.S. stocks traded lower this morning, with the Dow Jones index falling more than 100 points on Thursday.
Following the market opening Thursday, the Dow traded down 0.34% to 42,053.78 while the NASDAQ slipped 0.14% to 17,900.80. The S&P 500 also fell, dropping, 0.13% to 5,701.91.
Leading and Lagging Sectors
Information technology shares jumped by 0.4% on Thursday.
In trading on Thursday, materials shares dipped by 0.8%.
Top Headline
U.S. initial jobless claims increased by 6,000 from the prior week to 225,000 during the week ended Sept. 28, compared to market estimates of 220,000.
Equities Trading UP
- Elevai Labs Inc. (NASDAQ:ELAB) shares shot up 79% to $0.1530 after the company announced its subsidiary, Elevai Biosciences, filed two patent applications for its lead candidate, EL-22, aimed at treating muscle loss in obese patients.
- Shares of Theriva Biologics, Inc. (NASDAQ:TOVX) got a boost, surging 51% to $1.8699 after the company announced the Data and Safety Monitoring Committee's review outcome for its Phase 1b/2a clinical trial of SYN-004. The DSMC has recommended the study proceed to enroll cohort 3.
- Pineapple Energy Inc. (NASDAQ:PEGY) shares were also up, gaining 40% to $0.1601.
Equities Trading DOWN
- Cemtrex, Inc. (NASDAQ:CETX) shares dropped 43% to $2.99.
- Shares of Kaixin Holdings (NASDAQ:KXIN) were down 27% to $0.2497. Shares of US-listed Chinese stocks traded lower as the sector pulled back from recent strength. These companies rallied after the People's Bank of China announced a new stimulus package ahead of the Golden Week holidays.
- MMTec, Inc. (NASDAQ:MTC) was down, falling 26% to $0.5692.
Commodities
In commodity news, oil traded up 2% to $71.47 while gold traded up 0.1% at $2,670.80.
Silver traded down 0.4% to $31.80 on Thursday, while copper fell 1.9% to $4.5620.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 fell 0.7%, Germany's DAX fell 0.6% and France's CAC 40 fell 0.9%. Spain's IBEX 35 Index rose 0.1%, while London's FTSE 100 gained 0.1%.
Producer prices in the Eurozone rose 0.6% month-over-month in August compared to a revised 0.7% increase in July. The HCOB Eurozone composite PMI was revised higher to 49.6 in September versus a preliminary reading of 48.9.
The S&P Global UK services PMI declined to 52.4 in September from 53.7 in the previous month, while German services PMI fell to 50.6 in September from 51.2 a month ago.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan's Nikkei 225 gaining 1.97%, Hong Kong's Hang Seng Index falling 1.47% and India's BSE Sensex dipping 2.10%.
The au Jibun Bank Japan services PMI was revised lower to 53.1 for September, versus a preliminary reading of 53.9.
Economics
U.S. initial jobless claims increased by 6,000 from the prior week to 225,000 during the week ended Sept. 28, compared to market estimates of 220,000.
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