Following the market opening Thursday, the Dow traded up 0.34 percent to 21,784.38 while the NASDAQ gained 0.47 percent to 6,453.07. The S&P also rose, gaining 0.18 percent to 2,482.34.
Leading and Lagging Sectors;
Telecommunications services shares climbed by 1.51 percent in the US market on Thursday. Top gainers in the sector included Verizon Communications Inc. VZ 6.61%, and Frontier Communications Corp FTR 5.42%.
In trading on Thursday, healthcare shares fell 0.78 percent. Meanwhile, top losers in the sector included Community Health Systems CYH 14.66%, down 14 percent, and AstraZeneca plc (ADR) AZN 15.5%, down 16 percent.
Facebook Inc FB 5.5% reported stronger-than-expected results for its second quarter on Wednesday.
Second-quarter earnings came in at $1.32 per share, topping estimates by 19 cents. Facebook delivered sales of $9.321 billion in the quarter, $121 million higher than analyst estimates.
Equities Trading UP;
Shares of Teekay Corporation TK 12.84% got a boost, shooting up 12 percent to $9.55. Brookfield Business Partners L.P. BBU 0.31% agreed to acquire 60 percent of Teekay Offshore Partners for $750 million.
LivePerson, Inc. LPSN 11.84% shares were also up, gaining 10 percent to $12.50. LivePerson reported Q2 adjusted earnings of $0.01 per share on revenue of $54.074 million. The company also issued a strong outlook for the current quarter.
Equities Trading DOWN;
IntelliPharmaCeutics Intl Inc (USA) IPCI 42.77% shares dropped 41 percent to $1.47 as the company disclosed that a FDA panel voted against approving the company’s NDA for Rexista™ abuse-deterrent oxycodone hydrochloride extended release tablets.
Shares of Neuralstem, Inc. CUR 28.74% were down 24 percent to $1.87. Neuralstem reported the pricing of public offering of common stock and warrants.
PCM Inc PCMI 18.23% was down, falling around 21 percent to $15.55. PCM reported Q2 adjusted earnings of $0.47 per share on sales of $560.1 million.
In commodity news, oil traded up 0.21 percent to $48.85 while gold traded up 1 percent to $1,268.10.
Silver traded up 1.80 percent Thursday to $16.755, while copper rose 0.80 percent to $2.895.
European shares were lower today. The eurozone’s STOXX 600 dropped 0.24 percent, the Spanish Ibex Index fell 0.07 percent, while Italy’s FTSE MIB Index dropped 0.09 percent. Meanwhile the German DAX declined 0.94 percent, and the French CAC 40 slipped 0.26 percent while U.K. shares fell 0.12 percent.
Initial jobless claims increased to 244,000 in the latest week. However, economists were expecting claims to reach 241,000 in the week.
The advanced trade in goods slipped 3.7 percent in June to $63.9 billion.
U.S. durable goods orders rose 6.50 percent for June, versus economists’ expectations for a 3.00 percent growth.
The Chicago Fed National Activity Index rose to 0.13 for June, versus prior reading of -0.26. Economists projected a reading of 0.35.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
The Kansas City Fed manufacturing index for July will be released at 11:00 a.m. ET.
The Treasury is set to auction 7-year notes at 1:00 p.m. ET.
Data on money supply for the recent week will be released at 4:30 p.m. ET.