Toward the end of trading Thursday, the Dow traded up 0.88 percent to 24,918.80 while the NASDAQ climbed 1.19 percent to 7,808.43. The S&P also rose, gaining 0.81 percent to 2,796.34.
Leading and Lagging Sectors
Thursday afternoon, the information technology shares climbed 1.61 percent. Meanwhile, top gainers in the sector included CA, Inc. CA 18.65% up 18 percent, and Finjan Holdings, Inc. FNJN 6.24% up 9 percent.
In trading on Thursday, utilities shares fell 0.02 percent.
Delta Air Lines, Inc. DAL 1.85% reported upbeat earnings for its second quarter on Thursday.
Delta posted Q2 profit of $1.77 per share on revenue of $11.78 billion. However, analysts expected earnings of $1.72 per share on revenue of $11.61 billion. The company raised its quarterly dividend from $0.305 per share to $0.35 per share.
Delta expects Q3 earnings of $1.65 to $1.85 per share and FY18 earnings of $5.35 to $5.70 per share.
Equities Trading UP
Zogenix, Inc. ZGNX 20.73% shares shot up 19 percent to $55.045 after the company disclosed top-line results from second Pivotal Phase 3 trial of ZX008 in dravet syndrome. The company reported that the trial met primary endpoint.
Shares of China TechFaith Wireless Communication Technology Limited CNTF 63.93% got a boost, shooting up 68 percent to $3.07 after the company agreed to sell its wholly-owned subsidiary.
IZEA, Inc. IZEA 173.65% shares were also up, gaining 84 percent to $1.72 after the company reported a deal to buy TapInfluence for $7.08 million in cash and stock.
Equities Trading DOWN
SELLAS Life Sciences Group, Inc. SLS 30.6% shares dropped 27 percent to $1.70 after the company reported pricing of its upsized $24.2 million public offering.
Shares of Broadcom Inc. AVGO 13.76% were down 15 percent to $208.0052 after the company announced plans to buy CA at $44.50 per share in cash.
Cato Corporation CATO 13.45% was down, falling around 15 percent to $21.22. Cato’s same-store sales came in flat for the five weeks ended July 7, 2018 versus the five weeks ended July 8, 2017.
Silver traded up 1.09 percent Thursday to $15.99, while copper rose 1.31 to $2.7795.
European shares closed higher today. The eurozone’s STOXX 600 climbed 0.78 percent, the Spanish Ibex Index rose 0.35 percent, while Italy’s FTSE MIB Index rose 0.38 percent. Meanwhile the German DAX gained 0.61 percent, and the French CAC 40 climbed 0.97 percent while U.K. shares rose 0.78 percent.
The Consumer Price Index rose 0.1 percent for June, versus economists’ expectations for a 0.2 percent increase.
U.S. initial jobless claims dropped 18,000 to 214,000 in the latest week. However, economists projected a 226,000 reading.
Domestic supplies of natural gas climbed 51 billion cubic feet for the week ended July 6, the U.S. Energy Information Administration reported. However, analysts expected a gain of 55 billion cubic feet.
Data on money supply for the recent week will be released at 4:30 p.m. ET.
Minneapolis Federal Reserve Bank President Neel Kashkari will speak at 8:00 p.m. ET.
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