US Stocks Mixed; Jobless Claims Rise More Than Expected

BY Benzinga | ECONOMIC | 05/09/24 09:47 AM EDT

U.S. stocks traded mixed this morning, with the Dow Jones index falling around 20 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.05% to 39,035.64 while the NASDAQ rose 0.14% to 16,326.18. The S&P 500 also fell, dropping, 0.07% to 5,191.38.

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Leading and Lagging Sectors

Real estate shares rose by 1.4% on Thursday.

In trading on Thursday, financial shares fell by 0.2%.

Top Headline

U.S. initial jobless claims increased by 22,000 to 231,000 on the week ending May 4, higher than market estimates of 210,000.

Equities Trading UP

  • Pop Culture Group Co., Ltd (CPOP) shares shot up 140% to $4.07 after the company reported a year-over-year increase in H2 2023 revenue results.
  • Shares of Sezzle Inc. (SEZL) ?got a boost, surging 55% to $69.53 after the company reported a year-over-year increase in first-quarter financial results.
  • Embecta Corp (EMBC). shares were also up, gaining 41% to $14.52 after the company reported upbeat second-quarter results and raised FY24 guidance.

Equities Trading DOWN

  • Tivic Health Systems, Inc (TIVC). shares dropped 61% to $0.5251 after the company reported pricing of $4 million public offering.
  • Shares of EMCORE Corporation (EMKR) were down 54% to $1.35 after the company reported mixed second-quarter financial results and issued third-quarter revenue guidance below estimates.
  • Cardlytics, Inc (CDLX). was down, falling 43% to $8.33 after the company reported mixed first-quarter financial results and issued second-quarter revenue guidance with its midpoint below estimates. Also, Needham maintained a Buy rating on the stock and lowered its price target from $17 to $12.

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In commodity news, oil traded up 0.6% to $79.44 while gold traded up 0.2% at $2,327.50.

Silver traded up 1.3% to $27.965 on Thursday, while copper fell 0.1% to $4.5420.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.1%, Germany's DAX rose 0.8% and France's CAC 40 gained 0.3%. Spain's IBEX 35 Index fell 1.1%, while London's FTSE 100 rose 0.2%.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei falling 0.34%, China's Composite Index gaining 1.22%, Hong Kong's Hang Seng Index gaining 0.83% and India's S&P BSE Sensex falling 1.4%.

The index of leading economic indicators in Japan fell to 111.4 in March 2024 versus a revised reading of 112.1 in the prior month, while index of coincident economic indicators climbed to 113.9 in March versus a final level of 111.5 a month ago.

Chinese trade surplus shrank to $72.35 billion in April from $86.46 billion in the year-ago period a year earlier. Imports to China rose by 8.4%, while exports from China gained 1.5% year-over-year in April.                  


U.S. initial jobless claims increased by 22,000 to 231,000 on the week ending May 4, higher than market estimates of 210,000.

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