Midway through trading Thursday, the Dow traded up 1.08 percent to 25,064.31 while the NASDAQ climbed 0.65 percent to 7,265.02.
The S&P also rose, gaining 0.86 percent to 2,724.66.
Leading and Lagging Sectors
On Thursday, the energy shares climbed 1.68 percent. Meanwhile, top gainers in the sector included Whiting Petroleum Corp
(NYSE: WLL), up 26 percent, and Chesapeake Energy
Corporation (NYSE: CHK), up 25 percent.
In trading on Thursday, technology shares rose by just 0.4 percent. Meanwhile, top losers in the sector included AXT Inc
(NASDAQ: AXTI), down 13 percent, and VASCO Data Security
International, Inc. (NASDAQ: VDSI) down 12 percent.
Top Headline
PPL (NYSE: PPL) reported stronger-than-expected
earnings for its fourth quarter.
The company said it earned $0.55 per share in the fourth quarter on revenue of $1.92 billion versus expectations of $0.48 per
share on revenue of $2.03 billion.
PPL expects FY18 earnings of $2.30 per share. PPL raised its annual dividend from $1.58 to $1.64 per share.
Equities Trading UP
Sangamo Therapeutics Inc (NASDAQ: SGMO) shares
shot up 20 percent to $26.62. Sangamo Therapeutics posted strong Q4 results. Gilead's Kite and Sangamo Therapeutics disclosed a
collaboration to develop generation engineered cell therapies for cancer treatment.
Shares of Whiting Petroleum Corp (NYSE: WLL) got a
boost, shooting up 26 percent to $28.35 following upbeat Q4 results.
AAC Holdings Inc (NYSE: AAC) shares were also up,
gaining 17 percent to $9.80 after the company reported upbeat Q4 results.
Equities Trading DOWN
Macquarie Infrastructure Corp (NYSE: MIC) shares
dropped 40 percent to $38.13 following Q4 report. The company declared a $1.44 per share dividend but gave '18 dividend guidance
suggesting its quarterly dividend would be cut to $1 per share.
Shares of Advaxis, Inc. (NASDAQ: ADXS) were down
26 percent to $1.86. Advaxis priced its 10 million share offering at $2 per share.
.
Applied Optoelectronics Inc (NASDAQ: AAOI) was down,
falling around 24 percent to $26.26 after reporting a fourth quarter sales miss. Adjusted earnings came in at 89 cents per share,
beating estimates by 6 cents. Sales came in at $79.9 million, missing estimates by $6 million. The company issued weak first
quarter earnings and sales guidance.
Commodities
In commodity news, oil traded up 1.64 percent to $62.69 while gold traded down 0.04 percent to $1,331.60.
Silver traded down 0.05 percent Thursday to $16.67, while copper rose 0.23 percent to $3.2445.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.24 percent, the Spanish Ibex Index gained 0.59 percent,
while Italy’s FTSE MIB Index dipped 0.97 percent. Meanwhile the German DAX dropped 0.09 percent, and the French CAC 40 rose 0.16
percent while U.K. shares fell 0.27 percent.
Economics
Initial jobless claims dropped 7,000 to 222,000 in the latest week. However, economists were expecting claims to reach 230,000
last week.
The Conference Board's leading economic index rose 1 percent for January.
Crude stocks declined 1.62 million barrels in the latest week, the Energy Information Administration said. However, analysts
expected a gain of 1.79 million barrels.
Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Atlanta, Georgia at 12:10 p.m. ET.
The Treasury is set to auction 7-year notes at 1:00 p.m. ET.
Dallas Federal Reserve Bank President Robert Kaplan will speak 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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