Following the market opening Thursday, the Dow traded up 0.41% to 28655.31 while the NASDAQ rose 0.47% to 9,014.99. The S&P also rose, gaining 0.21% to 3,237.54.
Leading and Lagging Sectors
In trading on Thursday, real estate shares fell 0.4%.
U.K. chipmaker Imagination Technologies Group plc has signed a new deal with Apple Inc. (NASDAQ: AAPL) after a three-year breakup.
In April 2017, U.K. chipmaker Imagination Technologies Group plc saw its shares plummet by 70% after the California-based tech company said it wouldn't use the company's intellectual property any longer. Imagination Technologies didn't mention which IP it has agreed to share with Apple. According to Bloomberg, it is likely related to graphics and artificial intelligence.
Equities Trading UP
Synthesis Energy Systems, Inc. (NASDAQ: SES) shares shot up 56% to $8.91 after the company was granted a patent titled 'Apparatus using multiple jets for gas delivery and methods of fluidizing.'
Shares of Cassava Sciences, Inc. (NASDAQ: SAVA) got a boost, shooting up 33% to $6.90 after the company's CEO reported the purchase of 100k shares on Tuesday.
Recon Technology, Ltd. (NASDAQ: RCON) shares were also up, gaining 20% to $2.75 after the company won a three-year automation system bid from Jidong Oilfield.
Equities Trading DOWN
DURECT Corporation (NASDAQ: DRRX) shares tumbled 30% to $2.66 after the company announced DUR-928 did not demonstrate benefit over placebo in Phase 2a psoriasis trial. The company is discontinuing development.
Shares of Neovasc Inc. (NASDAQ: NVCN) were down 28% to $3.8999 after the company announced a $10 million common stock offering priced at-the-market.
SRAX, Inc. (NASDAQ: SRAX) was down, falling 15% to $2.13 after gaining 22.7% on Tuesday.
In commodity news, oil traded down 0.1% to $61.05, while gold traded up 0.1% to $1,524.70.
Silver traded up 0.3% Thursday to $17.965, while copper rose 0.5% to $2.8105.
European shares were higher today. The eurozone’s STOXX 600 gained 0.9%, the Spanish Ibex Index rose 1.2%, while Italy’s FTSE MIB Index gained 1.2%. Meanwhile, the German DAX gained 0.7%, and the French CAC 40 rose 1% while UK shares rose 0.9%.
Initial jobless claims fell 2,000 to 222,000 in the seven days ended December 28.
The IHS Markit manufacturing PMI fell to 52.4 in December, versus 52.6 in the prior month.
The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
Data on money supply for the recent week will be released at 4:30 p.m. ET.