Toward the end of trading Thursday, the Dow traded up 0.62% to 28716.12 while the NASDAQ rose 0.83% to 9,046.70. The S&P also rose, gaining 0.35% to 3,242.08.
Leading and Lagging Sectors
Information technology shares climbed 1.2% on Thursday. Meanwhile, top gainers in the sector included Synchronoss Technologies, Inc. (NASDAQ: SNCR), up 12%, and Arlo Technologies Inc (NYSE: ARLO), up 17%.
In trading on Thursday, utilities shares fell 1.6%.
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 64% to $9.34 after the company was granted a patent titled 'Apparatus using multiple jets for gas delivery and methods of fluidizing.'
Shares of Trillium Therapeutics Inc (NASDAQ: TRIL) got a boost, shooting up 34% to $1.3799 after Morgan Stanley on Tuesday reported a 5.9% passive stake in the company.
Cassava Sciences, Inc. (NASDAQ: SAVA) shares were also up, gaining 35% to $7.01 after the company's CEO reported the purchase of 100,000 shares on Tuesday.
Equities Trading DOWN
DURECT Corporation (NASDAQ: DRRX) shares tumbled 33% to $2.56 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 29% to $3.84 after the company announced a $10 million common stock offering priced at-the-market.
Signet Jewelers Limited (NYSE: SIG) was down, falling 12% to $19.17 after Wells Fargo downgraded the stock from Equal-Weight to Underweight and announced a price target of $12 per share.
In commodity news, oil traded down 0.2% to $60.96, while gold traded up 0.4% to $1,528.40.
Silver traded up 0.7% Thursday to $18.04, while copper rose 0.8% to $2.8195.
European shares closed higher today. The eurozone’s STOXX 600 gained 0.93%, the Spanish Ibex Index rose 1.49%, while Italy’s FTSE MIB Index gained 1.40%. Meanwhile, the German DAX gained 1.03%, and the French CAC 40 rose 1.06% while UK shares rose 0.82%.
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.
Data on money supply for the recent week will be released at 4:30 p.m. ET.