Nasdaq Down 50 Points; US Initial Jobless Claims Rise

U.S. stocks traded mostly lower this morning, with the Nasdaq Composite falling more than 50 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.01% to 44,142.13 while the NASDAQ fell 0.27% to 19,979.88. The S&P 500 also fell, dropping, 0.14% to 6,075.73.

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Leading and Lagging Sectors

Real estate shares jumped by 0.7% on Thursday.

In trading on Thursday, energy shares fell by 0.7%.

Top Headline

U.S. initial jobless claims increased by 17,000 from the previous week to a reading of 242,000 during the first week of December, compared to market estimates of 220,000.

Equities Trading UP
                       

• Palisade Bio, Inc. (PALI)  shares shot up 73% to $2.42.
• Shares of Trevi Therapeutics, Inc. (TRVI) got a boost, surging 62% to $4.0435 after the company announced positive outcomes for the treatment of patients from its chronic cough Phase 2b CORAL trial.
• Canoo Inc. (GOEV) shares were also up, gaining 52% to $0.1980.

Equities Trading DOWN

• Sacks Parente Golf, Inc. (SPGC) shares dropped 80% to $0.28 after the company priced an upsized $8.4 million underwritten public offering of 7 million common units at $1.20 per unit.
• Shares of Keros Therapeutics, Inc (KROS) were down 76% to $16.57 after the company announced it halted treatment in the 3.0 mg/kg and 4.5 mg/kg arms of its ongoing TROPOS trial due to safety concerns..
• TFF Pharmaceuticals, Inc. (TFFP) was down, falling 55% to $0.0740.

Commodities

In commodity news, oil traded down 1.3% to $69.35 while gold traded down 1.7% at $2,709.80.

Silver traded down 3.7% to $31.710 on Thursday, while copper fell 0.8% to $4.2245.

Euro zone

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

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 gaining 1.21%, Hong Kong's Hang Seng Index gaining 1.20%, China's Shanghai Composite Index gaining 0.85% and India's BSE Sensex falling 0.29%.

Economics

• U.S. initial jobless claims increased by 17,000 from the previous week to a reading of 242,000 during the first week of December, compared to market estimates of 220,000.
• Core producer prices increased by 0.2% month-over-month in November compared to a 0.3% increase in the previous month and in-line with market expectations.

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