Following the market opening Thursday, the Dow traded up 0.65 percent to 24,860.60 while the NASDAQ climbed 0.77 percent to 7,775.65. The S&P also rose, gaining 0.51 percent to 2,788.24.
Leading and Lagging Sectors;
In trading on Thursday, utilities shares fell 0.23 percent.
Delta Air Lines, Inc. DAL 1.04% 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 17.49% shares shot up 18 percent to $54.575 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.
IZEA, Inc. IZEA 85.44% shares were also up, gaining 80 percent to $1.6884 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 27.16% 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 15.79% were down 16 percent to $204.90 after the company announced plans to buy CA at $44.50 per share in cash.
AcelRx Pharmaceuticals, Inc. ACRX 12.5% was down, falling around 13 percent to $2.975. AcelRx Pharmaceuticals disclosed commencement of a common stock offering.
In commodity news, oil traded up 0.95 percent to $71.05 while gold traded up 0.10 percent to $1,245.70.
Silver traded up 0.62 percent Thursday to $15.915, while copper rose 0.95 to $2.7695.
European shares were higher today. The eurozone’s STOXX 600 climbed 0.75 percent, the Spanish Ibex Index rose 0.29 percent, while Italy’s FTSE MIB Index rose 0.40 percent. Meanwhile the German DAX gained 0.49 percent, and the French CAC 40 climbed 0.83 percent while U.K. shares rose 0.81 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.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in Victor, Idaho at 12:15 p.m. ET.
The Treasury is set to auction 30-year bonds at 1:00 p.m. ET.
The U.S. Treasury budget report for June will be released at 2:00 p.m. ET.
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.