Toward the end of trading Thursday, the Dow traded up 0.96 percent to 25,321.11 while the NASDAQ climbed 1.84 percent to
7,267.56. The S&P also rose, gaining 1.13 percent to 2,732.20.
Leading and Lagging Sectors
Thursday afternoon, the information technology shares climbed 2.2 percent. Meanwhile, top gainers in the sector included
Switch Inc (NYSE: SWCH) up 11 percent, and
Avid Technology, Inc. (NASDAQ: AVID) up 12
percent.
In trading on Thursday, real estate shares fell 1.1 percent.
Top Headline
Walmart Inc (NYSE: WMT) reported
better-than-expected earnings for its third quarter and raised its full-year earnings outlook.
Walmart posted Q3 earnings of $1.08 per share on total revenue, excluding currency changes, of $126.1 billion. However, analysts
were expecting earnings of $1.01 per share on sales of $125.44 billion.
Walmart now expects FY19 adjusted earnings of $4.75 to $4.85 per share, versus prior forecast of $4.65 to $4.80 per share.
Equities Trading UP
uniQure N.V. (NASDAQ: QURE) shares shot
up 45 percent to $32.97 after the company reported all hemophilia patients in its dose-combo study of AMT-061 achieved a positive
response.
Shares of New Age Beverages Corporation (NASDAQ: NBEV) got a boost, shooting up 29 percent to $4.03 after reporting Q3 results. The
company also announced closing of $52 million public offering.
Smart & Final Stores, Inc. (NYSE: SFS)
shares were also up, gaining 37 percent to $6.76 after the company reported upbeat earnings for its third quarter and raised its
FY18 earnings guidance.
Equities Trading DOWN
Remark Holdings, Inc. (NASDAQ: MARK)
shares dropped 41 percent to $1.94 following news of default event, reduced guidance and evaluation of strategic alternatives by
the company's Board.
Shares of CDTi Advanced Materials Inc (NASDAQ: CDTI) were down 60 percent to $0.58 following news the company will voluntarily
delist from the Nasdaq; Delisting expected to take place on or about Dec. 6, 2018.
RYB Education Inc - ADR (NYSE: RYB) was
down, falling around 53 percent to $7.82. While there has not been any company-specific news, traders are circulating reports of
Chinese education reform initiatives to prioritize affordable schooling which may be seen as a negative for RYB Education.
Commodities
In commodity news, oil traded up 0.41 percent to $56.48 while gold traded up 0.25 percent to $1,213.10.
Silver traded up 1.86 percent Thursday to $14.27, while copper rose 1.86 percent to $2.7605.
Eurozone
European shares closed lower today. The eurozone’s STOXX 600 declined 1.06 percent, the Spanish Ibex Index fell 0.36 percent,
while Italy’s FTSE MIB Index slipped 1.33 percent. Meanwhile the German DAX dropped 0.52 percent, and the French CAC 40 fell 0.90
percent while U.K. shares rose 0.06 percent.
Economics
Initial jobless claims rose 2,000 to 216,000 in the latest week. However, economists were expecting a 216,000 reading.
The Philly Fed manufacturing index declined 9.3 points to a reading of 12.9 in November.
U.S. retail sales rose 0.8 percent for October, versus economists’ expectations for a 0.6 percent increase.
The Empire State manufacturing index climbed 2.2 points to a reading of 23.3 for November.
U.S. import prices rose 0.5 percent for October, versus economists’ expectations for a 0.1 percent gain.
U.S. business inventories rose 0.3 percent for September, versus economists’ expectations for a 0.3 percent increase.
Domestic supplies of natural gas climbed 39 billion cubic feet for the week ended November 9, the Energy Information
Administration reported. Analysts projected an increase of 33 billion cubic feet.
Domestic crude supplies rose 10.27 million barrels for the week ended November 9, the Energy Information Administration
reported. However, analysts expected a gain of 2.3 million barrels. Gasoline stockpiles dropped 1.41 million barrels, while
distillate stockpiles slipped 3.59 million barrels last week.
Minneapolis Federal Reserve Bank President Neel Kashkari will speak in Minneapolis, MN at 3:00 p.m. ET.
Data on money supply for the recent week will be released at 4:30 p.m. ET.
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