Midway through trading Thursday, the Dow traded up 0.61 percent to 25,522.83 while the NASDAQ climbed 0.61 percent to 7,197.02.
The S&P also rose, gaining 0.54 percent to 2,762.95.
Leading and Lagging Sectors
On Thursday, the energy sector proved to be a source of strength for the market. Leading the sector was strength from Legacy
Reserves LP (NASDAQ: LGCY) and SunPower
Corporation (NASDAQ: SPWR).
In trading on Thursday, healthcare shares slipped 0.01 percent. Meanwhile, top losers in the sector included PNM Resources
Inc (NYSE: PNM), down 2 percent, and PG&E
Corporation (NYSE: PCG) down 2 percent.
Top Headline
Delta Air Lines, Inc. (NYSE: DAL) reported
better-than-expected results for its fourth quarter.
Delta Air said it earned 96 cents per share in the quarter on revenue of $10.25 billion which exceeded Wall Street's
expectations for 89 cents per share and $10.17 billion.
Delta lifted its full-year profit forecast to $6.35-$6.70 per share.
Equities Trading UP
New Age Beverages Corp (NASDAQ: NBEV) shares shot
up 14 percent to $2.91. The company disclosed that it has commenced shipment of its XingTea portfolio of ready-to-drink teas to CVS
Health.
Shares of CounterPath, Corp. (NASDAQ: CPAH) got a
boost, shooting up 13 percent to $5.90 after the company disclosed a distribution agreement with Soft Solutions to reach new
markets.
Richardson Electronics, Ltd. (NASDAQ: RELL) shares
were also up, gaining 11 percent to $7.70 following Q2 results. Richardson Electronics reported Q2 adjusted earnings of $0.01 per
share on revenue of $39.1 million.
Equities Trading DOWN
Lipocine Inc (NASDAQ: LPCN) shares dropped 47
percent to $1.84 after the company reported the outcome of the FDA Advisory Committee meeting for TLANDO. The company confirmed
that the FDA AdCom Panel voted 6 in favor and 13 against the benefit/risk profile of TLANDO.
Shares of SemiLEDs Corporation (NASDAQ: LEDS) were
down 25 percent to $4.92. SemiLEDS reported a Q1 loss of $0.11 per share on revenue of $2 million after the closing bell.
Cogint, Inc. (NASDAQ: COGT) was down, falling
around 13 percent to $4.75. Cogint named Blockchain industry veteran David Drake as Chairman of Strategic Advisory Board of
Blockchain unit.
Commodities
In commodity news, oil traded up 1.48 percent to $64.51 while gold traded up 0.25 percent to $1,322.60.
Silver traded down 0.18 percent Thursday to $17.005, while copper fell 0.02 percent to $3.235.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 tumbled 0.34 percent, the Spanish Ibex Index rose 0.07
percent, while Italy’s FTSE MIB Index rose 0.64 percent. Meanwhile the German DAX declined 0.59 percent, and the French CAC 40 fell
0.29 percent while U.K. shares fell 0.19 percent.
Economics
Initial jobless claims rose 11,000 to 261,000 in the latest week. However, economists expected claims to reach 246,000 last
week.
U.S. producer price index dropped 0.1 percent in December. However, the index gained 2.6 percent in the twelve months through
December.
Domestic supplies of natural gas slipped 359 billion cubic feet for the week ended January 5, the U.S. Energy Information
Administration reported. However, analysts projected a drop of 337 billion.
The U.S. Treasury budget report for December will be released at 2:00 p.m. ET.
New York Federal Reserve Bank President William Dudley is set to speak in New York at 3:30 p.m. ET.
Data on money supply for the recent week will be released at 4:30 p.m. ET.
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