Mid-Day Market Update: Crude Oil Down 3%; Flux Power Shares Rise After Q3 Results

Midway through trading Thursday, the Dow traded up 1.37% to 34,046.72 while the NASDAQ rose 1.08% to 13,173.00. The S&P also rose, gaining 1.29% to 4,115.26.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 32,815,400 cases with around 583,690 deaths. India confirmed a total of at least 23,703,660 cases and 258,310 deaths, while Brazil reported over 15,359,390 COVID-19 cases with 428,030 deaths. In total, there were at least 160,505,170 cases of COVID-19 worldwide with more than 3,333,070 deaths, according to data compiled by Johns Hopkins University.


Leading and Lagging Sectors


Financial shares climbed 1.8% on Thursday. Meanwhile, top gainers in the sector included CI Financial Corp CIXX, up 11%, and A-Mark Precious Metals, Inc. AMRK, up 12%.


In trading on Thursday, energy shares fell 0.4%.


Top Headline

US initial jobless claims fell by 34,000 to 473,000 in the week ending May 8, recording the lowest level since the covid-19 pandemic first hit the market in March 2020.

 


Equities Trading UP


Flux Power Holdings, Inc. FLUX shares shot up 17% to $8.99 after the company reported better-than-expected Q3 results.


Shares of Reliance Global Group, Inc. RELI got a boost, shooting 52% to $4.4865 after the company said it has acquired a premier health insurance agency, J.P. Kush and Associates, Inc.


Ramaco Resources, Inc. METC shares were also up, gaining 19% to $4.95 after the company reported an increase in quarterly earnings.

Check out these big movers of the day


Equities Trading DOWN

Zovio Inc ZVO shares tumbled 37% to $2.17 after the company reported wider-than-expected Q1 loss.

Shares of ContextLogic Inc. WISH were down 18% to $9.36 after the company reported Q1 earnings results.

Evoke Pharma, Inc. EVOK was down, falling 17% to $1.2550 after the company reported downbeat Q1 results.


Commodities


In commodity news, oil traded down 3% to $64.10, while gold traded up 0.1% to $1,825.30.


Silver traded down 0.4% Thursday to $27.125 while copper fell 0.6% to $4.7095.


Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.08%, the Spanish Ibex Index fell 0.39% and the German DAX 30 gained 0.37%. Meanwhile, the London’s FTSE 100 fell 0.5%, French CAC 40 fell 0.25% and Italy’s FTSE MIB gained 0.33%.


Economics


US initial jobless claims fell by 34,000 to 473,000 in the week ending May 8, recording the lowest level since the covid-19 pandemic first hit the market in March 2020.


Producer prices increased 0.6% in April following a 1% increase in March.


US natural-gas supplies rose 71 billion cubic feet last week, the Energy Information Administration said.


Fed Governor Christopher Waller will speak at 1:00 p.m. ET.


The Treasury will auction 30-year bonds at 1:00 p.m. ET.


Federal Reserve Bank of St. Louis President James Bullard is set to speak at 4:00 p.m. ET.

Check out the full economic calendar here

Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsMid-Day Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...