Mid-afternoon market update: Dow jumps over 200 points, Tempur Sealy shares spike higher

Toward the end of trading Thursday, the Dow traded up 0.62% to 35,149.19 while the NASDAQ rose 0.31% to 14,808.82. The S&P also rose, gaining 0.61% to 4,427.67.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 34,675,350 cases with around 611,800 deaths. India confirmed a total of at least 31,528,110 cases and 422,660 deaths, while Brazil reported over 19,797,080 COVID-19 cases with 553,160 deaths. In total, there were at least 196,040,880 cases of COVID-19 worldwide with more than 4,188,530 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Financials shares climbed 1.4% on Thursday. Meanwhile, top gainers in the sector included LendingClub Corporation LC 47.75%, up 54% and AGM Group Holdings Inc. AGMH 8.64% up 7%.

In trading on Thursday, communication services shares fell 0.7%.

Top Headline

Mastercard Incorporated MA 1.42% reported better-than-expected results for its second quarter.

Mastercard reported quarterly adjusted earnings of $1.95 per share, beating analysts’ estimates of $1.72 per share. The company’s revenue came in at $4.50 billion, versus expectations of $4.34 billion.

Equities Trading UP

LendingClub Corporation LC 47.75% shares shot up 54% to $24.99 after the company reported better-than-expected Q2 results and raised guidance.

Shares of NanoVibronix, Inc. NAOV 26.18% got a boost, shooting 27% to $2.42 after the company announced it received registration approval for UroShield from TGA Australia.

Tempur Sealy International, Inc. TPX 15.52% shares were also up, gaining 17% to $43.94 after the company posted upbeat Q2 results and issued strong FY21 earnings forecast.

Equities Trading DOWN

Annovis Bio, Inc. ANVS 61.03% shares tumbled 60% to $44.01 after the company presented new clinical and biomarker data at the 2021 Alzheimer's Association International Conference.

Shares of Atreca, Inc. BCEL 40.19% were down 38% to $5.08 after the company announced initial data from the dose escalation portion of its ongoing Phase 1b trial evaluating ATRC-101 in select solid tumor types, showing the investigational asset was well-tolerated. Preliminary biomarker data supported the proposed mechanism of action found in preclinical studies.

Brightcove Inc. BCOV 14.06% was down, falling 15% to $11.16 after the company issued weak Q3 2021 and FY21 revenue guidance.

Commodities

In commodity news, oil traded up 1.3% to $73.31, while gold traded up 1.7% to $1,830.80.

Silver traded up 3.4% Thursday to $25.725 while copper rose 1.1% to $4.5295.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 rose 0.46%, the Spanish Ibex Index rose 0.6% and the German DAX 30 gained 0.45%. Meanwhile, the London’s FTSE 100 rose 0.88%, French CAC 40 climbed 0.37% and Italy’s FTSE MIB climbed 1.01%.

The consumer confidence indicator in the Eurozone was confirmed at -4.4 in July, while services confidence indicator climbed to 19.3 in July. The industry confidence indicator in the Eurozone increased to 14.6 in July.

Producer prices in Italy surged 9.1% year-over-year in June. Consumer credit in the UK rose by GBP 0.31 billion in June, while UK factories produced 69,097 cars during June. Spain's unemployment rate fell to 15.26% in the second quarter from 15.98% in the prior three-month period, while annual inflation rate increased to 2.9% in July. French industrial producer increased 1.1% in June, while German unemployment rate stood at 3.7% in June.

Economics

The US economy grew an annualized 6.5% on quarter during the second quarter, down from market estimates of 8.5%.

US initial jobless claims fell to 400,000 in the week ending July 24th.

The pending home sales index dropped 1.9% year-over-year for June.

US natural-gas supplies climbed 36 billion cubic feet last week, the Energy Information Administration said.