Midway through trading on Thursday, the Dow Jones rose 0.02% to 26,526.11 while the NASDAQ rose 1.2% to 11,136.52. The S&P also rose, gaining 0.6% to 3,290.68.
The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 8,859,430 cases with around 227,700 deaths. India has confirmed a total of at least 8,040,200 confirmed cases and 120,520 deaths, while Brazil has reported more than 5,468,270 COVID-19 cases with 158,450 deaths. In total, there have been at least 44,583,820 cases of COVID-19 worldwide with more than 1,175,680 deaths, according to data compiled by Johns Hopkins University.
Leading and lagging sectors
Communications services stocks climbed 2.2% on Thursday. Meanwhile, the top industry winners included Pinterest, Inc. (NYSE: PINS), up 29%, and Criteo SA (NASDAQ: CRTO), up 11%.
Health care stocks fell 1.2% on Thursday.
Kraft Heinz Co (NASDAQ: KHC) posted better-than-expected results for its third quarter.
Kraft Heinz reported quarterly earnings of $ 0.70 per share, beating analysts’ estimates of $ 0.62 per share. The company posted sales of $ 6.44 billion, beating expectations of $ 6.31 billion.
Kraft Heinz has raised its organic growth target of FY20 net sales to high figures.
Trading UP shares
Universal Security Instruments, Inc. (NYSE: UUU) Shares climbed 68% to $ 3.38 after the company said it received a letter from activist Investing, a 9.9% shareholder, threatening to take action to prevent delisting and bankruptcy.
Actions of Pinterest, Inc. (NYSE: PINS) got a boost, reaching 28% to $ 63.20 after the company reported better-than-expected third quarter results. MKM Partners and JP Morgan improved the stock.
Rekor Systems, Inc. (NASDAQ: REKR) Stocks were also higher, gaining 27% to $ 4.23. Shares of Rekor Systems fell more than 30% on Wednesday after the company reported weak preliminary sales results in the third quarter.
DOWN stock trading
Tricida, Inc. (NASDAQ: TCDA) Shares fell 48% to $ 4.2650 as the company released an update from the Type A end-of-review meeting with the FDA.
Actions of Cancer Genetics, Inc. (NASDAQ: CGIX) fell 35% to $ 2.23 after the company announced a firm bid for $ 2 million priced at $ 2.20 per share.
Blue Apron Holdings, Inc. (NYSE: APRN) was down, falling 26% to $ 4.8499 after the company reported third-quarter results and released weak fourth-quarter sales guidance.
In the commodities news, oil traded 4.2% to $ 35.84, while gold traded 0.5% to $ 1,869.80.
Silver fell 0.1% Thursday to $ 23.335 while copper fell 0.2% to $ 3.0595.
European shares were mostly higher today. Eurozone STOXX 600 rose 0.08%, Spain’s Ibex index fell 0.88%, while Italy’s FTSE MIB index fell 0.08%. Meanwhile, the German DAX 30 gained 0.4%, the French CAC 40 rose 0.1% and the London FTSE 100 rose 0.2%.
The German unemployment rate was unchanged at 4.5% in September compared to the previous month.
The US economy grew at an annualized rate of 33.1% in the third quarter, compared to analysts’ expectations of 31% growth.
Initial jobless claims in the United States fell to 751,000 in the week ended October 24, from 791,000 the week before.
Pending home sales rose 20.5% year over year in September.
Domestic supplies of natural gas increased by 29 billion cubic feet for the week ended Oct. 23, the Energy Information Administration said.
The Treasury will auction 7-year notes at 1 p.m. ET.
Money supply data for the last week will be released at 4:30 p.m. ET.
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