US stocks traded higher this morning, with the Nasdaq Composite gaining more than 100 points on Thursday.
After the market opened on Thursday, the Dow was up 0.24% at 33,824.53 while the NASDAQ was up 1.05% at 11,432.45. The S&P 500 also rose 0.54% to 4,037.88.
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leading and lagging areas
- Shares of Consumer Discretionary rose 1.9% on Thursday. Meanwhile, in Top Gainers region Include boot barn holdings, inc. bootup 8%, and Tesla, Inc. TSLAup 9%.
- Shares of the utilities declined 0.4% in Thursday trading.
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Tesla Inc TSLA Fourth quarter results were better than expected
Tesla reported fourth-quarter total vehicle production of 439,701, up 44% year-over-year. Deliveries in the fourth quarter increased 31% year-over-year to 405,278.
equity trading up
- Qualtrix International Inc. XM Shares rose 29% to $14.47 after the company reported better than expected Q4 results and issued Q1 revenue guidance above estimates.
- shares of nemoura medical inc. nmrd US health provider HealthFleet Inc. rose 22% to $3.2250 after the company received its first buy order from
- TC Biopharma (Holdings) Plc tcbp Shares were up as well, rising 12% to $4.5098. HC Wainwright & Company initiated coverage on TC Biopharm with a Buy rating and announced a price target of $9.
equity trading down
- PanBella Therapeutics, Inc. PBLA Shares fell 36% to $1.74 after the company reported pricing its $15 million public offering at $2.75 per share.
- shares of Oakfire Pharma, Inc. Ocup Shares were down 21% to $2.9850 after reporting topline results from the company’s ZETA-1 Phase 2 trial of oral APX3330 in diabetic retinopathy and plans for an end-of-Phase 2 meeting with the FDA. HC Wainwright & Co maintained Ocuphire Pharma with a buy and reduced the price target to $20 from $26.
- Neovolta Inc. New was down, falling 19% to $2.2001.
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Goods
In commodity news, oil rose 2.2% to $81.87, while gold fell 0.4% to $1,935.30.
Silver rose 0.4% to $24.025 on Wednesday, while copper rose 0.2% to $4.2510.
euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.6%, London’s FTSE 100 added 0.3% while Spain’s IBEX 35 index added 0.9%. The German DAX added 0.2%, the French CAC 40 added 0.9% and Italy’s FTSE MIB index rose 1.2%.
Labor productivity in the UK rose 0.1% in the quarter during the three months to September, while car production in the country fell 17.9% year-on-year in December.
Consumer confidence in Italy fell to 100.9 in January from an 11-month high of 102.5 in the prior month, while manufacturing confidence rose to 102.7 from 101.5. Spain’s unemployment rate rose to 12.87% in the fourth quarter from 12.67% in the previous period.
asia pacific market
Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 down 0.12% and Hong Kong’s Hang Seng index down 2.37%.
Hong Kong’s trade deficit widened to $51.6 billion in December from $32.8 billion in the year-ago period. Singapore’s manufacturing output fell 3.1% year-on-year in December.
Economics
- US GDP to expand by 2.1% in 2022 compared to 5.9% expansion in 2021.
- The Chicago Fed National Activity Index rose to -0.49 in December from -0.51 in the previous month.
- The US trade deficit widened to $90.3 billion in December from a nearly two-year low of $82.9 billion a month earlier.
- US durable goods orders climbed 5.6% month-on-month in December.
- US jobless claims for the week ending January 21, 2023 decreased by 6,000 from the previous week to 186,000.
- Building permits in the US fell 1.0% from a month earlier to an annualized rate of 1.337 million in December.
- Wholesale inventories rose 0.1% to $934.1 billion in December.
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COVID-19 Update
The US has the highest number of coronavirus cases and deaths in the world, recording a total of 104,015,450 cases with nearly 1,130,960 deaths. India confirmed a total of at least 44,682,330 cases and 530,730 deaths, while France reported over 39,498,180 COVID-19 cases with 164,000 deaths. Overall, there were at least 674,133,160 cases of COVID-19 worldwide with more than 6,752,550 deaths.