Crude Oil Gains Over 1%; Mobileye Global Shares Jump

U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining around 100 500 points on Thursday.

The Dow traded up 1.28% to 42,032.26 while the NASDAQ rose 2.65% to 18,038.75. The S&P 500 also rose, gaining, 1.80% to 5,719.64.

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Leading and Lagging Sectors

Information technology shares jumped by 3.3% on Thursday.

In trading on Thursday, utilities shares fell by 0.5%.

Top Headline

Darden Restaurants, Inc. DRI reported first-quarter financial results on Thursday.

The company reported adjusted earnings per share of $1.75, missing the analyst consensus estimate of $1.83. Quarterly sales of $2.76 billion missed the street view of $2.80 billion.

FactSet said it sees fiscal 2025 revenue of $2.285 billion–$2.305 billion versus $2.301 billion estimate and adjusted EPS of $16.80–$17.40 versus consensus of $17.36.

Equities Trading UP
                       

• Edgewise Therapeutics, Inc. EWTX shares shot up 54% to $29.42 after the company announced top-line data of EDG-7500 from the Phase 1 trial in healthy subjects and the single-dose arm of the Phase 2 CIRRUS-HCMtrial in patients with obstructive HCM.
• Shares of Signing Day Sports, Inc. SGN got a boost, surging 265% to $0.4737 after the company announced it will acquire sports gaming technology company Swifty Global.
• Mobileye Global Inc. MBLY shares were also up, gaining 17% to $13.59 after Intel Corp INTC said it does not plan to divest its majority interest in the company. U.S. Fed rate cut also had a bearing on the stock price movement.

Equities Trading DOWN

• Haoxi Health Technology Limited HAO shares dropped 75% to $0.76. Haoxi Health Technology announced the pricing of a $12 million underwritten follow-on public offering of 4 million units at a price of $3 per unit.
• Shares of Progyny, Inc. PGNY were down 33% to $16.47 after a client elected to exercise an option to terminate its services agreement with the company.
• Vivos Therapeutics, Inc. VVOS was down, falling 21% to $3.26 after the company announced a $4.3 million registered offering of 1.36 million shares of common stock at $3.15 per share.

Commodities

In commodity news, oil traded up 1.4% to $71.93 while gold traded up 0.6% at $2,614.30.

Silver traded up 2.2% to $31.37 on Thursday, while copper rose 1.2% to $4.35.

Euro zone

European shares were higher today. The eurozone's STOXX 600 climbed 1.38%, Germany's DAX climbed 1.55% and France's CAC 40 jumped 2.29%. Spain's IBEX 35 Index rose 0.80%, while London's FTSE 100 rose 0.91%.

The Bank of England maintained the Bank Rate at 5% during its September meeting, after cutting rates by 25 bps in August. The current account surplus in the Eurozone increased to €48 billion in July from €25.5 billion in the year-ago period.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 2.13%, Hong Kong's Hang Seng Index surging 2%, China's Shanghai Composite Index gaining 0.69% and India's BSE Sensex gaining 0.29%.

Hong Kong's unemployment rate came in unchanged at 3% in the three months ending August. The Hong Kong Monetary Authority cut its base rate by 50bps to 5.25% at its recent meeting.

Economics

• The U.S. reported a current account deficit of $266.8 billion in the second quarter versus a gap of $241 billion in the prior period and higher than market estimates of a $260 billion gap.
• U.S. initial jobless claims fell by 12,000 from the prior week to 219,000 in the week ending September 14, compared to market expectations of 230,000.
• The Philadelphia Fed Manufacturing Index climbed to 1.7 in September from -7 in the previous month and topping market estimates of -1.
• U.S. natural-gas stocks rose 58 billion cubic feet during the week that ended Sept. 13, compared to market expectations of a 53 bcf gain.

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