Dow Falls 250 Points; US Initial Jobless Claims Rise

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 250 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.56% to 46,171.31 while the NASDAQ fell 1.15% to 21,677.52. The S&P 500 also fell, dropping, 0.82% to 6,537.54.

Leading and Lagging Sectors

Energy shares climbed by 0.6% on Thursday.

In trading on Thursday, communication services stocks fell by 1.6%.

Top Headline

U.S. initial jobless claims increased by 5,000 from the previous month to 210,000 during the third week of March, in-line with the median market estimates.

Equities Trading UP
           

• Kodiak Sciences Inc (KOD) shares shot up 63% to $36.99 after the company announced topline results in the GLOW2 Phase 3 superiority study of Zenkuda for the treatment of patients with diabetic retinopathy.
• Shares of Navan Inc (NAVN) got a boost, surging 24% to $11.39 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter sales guidance above estimates.
• Nextdecade Corp (NEXT) shares were also up, gaining 9% to $8.00.

Equities Trading DOWN

• Pony AI Inc (PONY) – ADR ADR shares dropped 12% to $10.04 after the company delivered a split fourth quarter, with explosive growth in its robotaxi business overshadowed by an overall revenue decline and weakening margins.
• Shares of Applovin Corp (APP) were down 9% to $397.07.
• Vicor Corp (VICR) was down, falling 7% to $173.76.

Commodities

In commodity news, oil traded up 3.9% to $93.88 while gold traded down 2.6% at $4,436.00.

Silver traded down 5.8% to $68.415 on Thursday, while copper fell 0.9% to $5.5085.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 1.2%, while Spain's IBEX 35 Index fell 1.3%. London's FTSE 100 declined 1.3%, Germany's DAX dipped 1.6% and France's CAC 40 fell 1% during the session.

Asia Pacific Markets

Asian markets closed lower on Thursday, with Japan's Nikkei 225 falling 0.27%, Hong Kong's Hang Seng index declining 1.89% and China's Shanghai Composite dropping 1.09%.

Economics

U.S. initial jobless claims increased by 5,000 from the previous month to 210,000 during the third week of March, in-line with the median market estimates.

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