Nasdaq Down Over 1%; US Initial Jobless Claims Fall

U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 1% on Thursday.

Following the market opening Thursday, the Dow traded down 0.50% to 45,889.75 while the NASDAQ fell 1.38% to 22,187.39. The S&P 500 also fell, dropping, 0.94% to 6,575.35.

Check This Out: This General Motors Analyst Turns Bullish; Here Are Top 5 Upgrades For Wednesday

Leading and Lagging Sectors

Consumer staples shares jumped by 0.5% on Thursday.

In trading on Thursday, communication services stocks fell by 1.5%.

Top Headline

Initial jobless claims declined by 14,000 from the previous week to 218,000 in the third week of September, compared to market estimates of 235,000.

Equities Trading UP
           

• PepGen Inc. (PEPG) shares shot up 107% to $5.51. The company announced the pricing of its $100 million public offering of 31,250,000 shares at $3.20 per share.
• Shares of SciSparc Ltd. (SPRC) got a boost, surging 79% to $6.86 after the company announced plans to launch a quantum computing-enabled 3D protein modeling initiative for drug discovery.
• Plus Therapeutics, Inc. (PSTV) shares were also up, gaining 40% to $0.5640 after the company announced a national coverage agreement with UnitedHealthcare for its CNSide cerebrospinal fluid assay for metastatic CNS cancer.

Equities Trading DOWN

• SeaStar Medical Holding Corporation (ICU) shares dropped 50% to $0.6226. SeaStar Medical (ICU) reported DSMB recommendation to continue the NEUTRALIZE-AKI pivotal trial in adult acute kidney injury.
• Shares of Erayak Power Solution Group Inc. (RAYA) were down 31% to $0.0493 after jumping over 15% on Wednesday.
• Cemtrex, Inc. (CETX) was down, falling 29% to $0.4470 after the company approved a 1-for-15 reverse stock split.

Commodities

In commodity news, oil traded down 0.5% to $64.66 while gold traded down 0.1% at $3,766.60.

Silver traded up 1.4% to $44.805 on Thursday, while copper fell 0.6% to $4.7865.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.8%, while Spain's IBEX 35 Index fell 0.3%. London's FTSE 100 fell 0.5%, Germany's DAX 40 dipped 1% and France's CAC 40 fell 0.8% during the session.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan's Nikkei 225 gaining 0.27%, Hong Kong's Hang Seng declining 0.13%, China's Shanghai Composite falling 0.01% and India's BSE Sensex falling 0.68%.

Economics

• U.S. wholesale inventories declined by 0.2% month-over-month to $898.8 billion in August, compared to market estimates of a 0.1% increase.
• U.S. durable goods orders climbed by 2.9% month-over-month to $312.1 billion in August, compared to a revised 2.7% decline in July and versus market estimates of a 0.5% fall.
• The U.S. trade deficit in goods shrank by $17.3 billion month-over-month to $85.5 billion in August, compared to market estimates of $95.65 billion.
• Initial jobless claims declined by 14,000 from the previous week to 218,000 in the third week of September, compared to market estimates of 235,000.
• The U.S. economy grew by an annualized rate of 3.8% in the second quarter, up from 3.3% in the second estimate.

Now Read This:

• CrowdStrike To Rally Around 26%? Here Are 10 Top Analyst Forecasts For Thursday

Photo via Shutterstock