Mid-Afternoon Market Update: Dow Surges Over 600 Points; Kroger shares higher peak
Towards the end of Thursday’s session, the Dow Jones traded higher 1.84% to 34,649.26 while the NASDAQ rose 0.61% to 15,347.69. The S&P also rose, gaining 1.48% to 4,580.03.
The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 49,573,120 cases with around 805,000 deaths. India has confirmed a total of at least 34,606,540 cases and 469,720 deaths, while Brazil has reported more than 22,105,870 cases of COVID-19 with 615,020 deaths. In total, there have been at least 263,915,360 cases of COVID-19 worldwide with more than 5,245,540 deaths, according to data compiled by Johns Hopkins University.
Sectors ahead and behind
Real estate stocks climbed 3.1% on Thursday. Meanwhile, the top industry winners included Braemar Hotels & Resorts, Inc. (NYSE: BHR), up 7% and Franklin Street Properties Corp. (NYSE: FSP) up 7%.
In Thursday’s trading, healthcare stocks rose only 0.5%.
Societe Generale Dollar (NYSE: DG) on Thursday posted better-than-expected earnings for its third quarter.
Dollar General reported quarterly earnings of $ 2.08 per share, beating analysts’ estimates of $ 2.01 per share. The company’s quarterly sales were $ 8.50 billion, against expectations of $ 8.49 billion.
Dollar General said it expected earnings for fiscal year 21 of $ 9.90 to $ 10.20 per share.
Bullish stock trading
Duluth Investments Inc. (NASDAQ: DLTH) Shares jumped 18% to $ 16.03 after the company released third quarter results and raised its EPS guidance for fiscal 21.
Actions of Biofrontera Inc. (NASDAQ: BFRI) got a boost, realizing 32% to $ 5.73. Biofrontera has announced a notice of release for the US patent entitled “Illumination for Photodynamic Therapy”.
The Kroger company Shares (NYSE: KR) also rose, gaining 12% to $ 45.15 after the company reported encouraging third quarter results and raised its adjusted EPS guidance for fiscal 21.
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Downward trading of stocks
Kirkland’s, Inc. (NASDAQ: KIRK) Shares fell 27% to $ 15.04 after the company reported worse-than-expected third quarter results.
Actions of Therapeutic Context Inc. (NASDAQ: CNTX) fell 25% to $ 5.34 after the company announced a private placement of $ 31.25 million. The placement includes 5 million shares as well as warrants to purchase 5 million shares.
Tantech Holdings Ltd (NASDAQ: TANH) was down, falling 58% to $ 0.6226 after the company valued the common stock offering of 21,120,509 shares at $ 0.65 per share.
In the commodities news, oil traded up 0.4% to $ 65.80, while gold traded down 1.1% to $ 1,764.10.
Silver traded 0.1% on Thursday at $ 22.335 while copper was up 1% to $ 4.2910.
European stocks closed lower today. The Eurozone STOXX 600 fell 1.15%, the Spanish Ibex index fell 1.80% and the German DAX 30 fell 1.35%. Meanwhile, London’s FTSE 100 fell 0.55%, the French CAC 40 fell 1.25% and the Italian FTSE MIB fell 1.39%.
The euro area unemployment rate fell to 7.3% in October, while producer prices rose 5.4% from a month ago in October. Italy’s unemployment rate rose to 9.4% in October from 9.2% the month before, while the number of people registered as unemployed in Spain fell from 74,381 to 3.183 million in November.
Job cuts announced by businesses fell 34.8% from the previous month to 14,875 in November.
Initial jobless claims in the United States rose to 222,000 in the week ending November 27, from 194,000 in the previous period.
US natural gas supplies fell 59 billion cubic feet last week, the Energy Information Administration said.
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