Dow Jumps 300 Points; Procter & Gamble Shares Gain After Q2 Results

U.S. stocks traded higher this morning, with the Dow Jones index gaining around 300 points on Thursday.

Following the market opening Thursday, the Dow traded up 0.63% to 49,387.01 while the NASDAQ gained 0.77% to 23,402.89. The S&P 500 also rose, gaining, 0.51% to 6,910.38.

Leading and Lagging Sectors

Communication services shares gained by 1.7% on Thursday.

In trading on Wednesday, energy stocks dipped by 0.4%.

Top Headline

Procter & Gamble Company (NYSE:PG) stock gained around 2% on Thursday after the consumer goods giant posted mixed quarterly results.

The company reported second-quarter adjusted earnings per share of $1.88, beating the analyst consensus estimate of $1.86. Quarterly sales of $22.208 billion missed the Street view of $22.282 billion.

Equities Trading UP
           

• 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) shares shot up 297% to $7.94 after the company announced a partnership with Runway Health to expand pre-departure access to ARAKODA.
• Shares of iOThree Limited (NASDAQ:IOTR) got a boost, surging 80% to $5.28.
• Creative Media & Community Trust Corporation (NASDAQ:CMCT) shares were also up, gaining 63% to $4.7750 after the company announced it closed the sale of its lending division.

Equities Trading DOWN

• C3is Inc. (NASDAQ:CISS) shares dropped 37% to $0.0888 after the company announced a 1-for-20 reverse stock split.
• Shares of Mingteng International Corporation Inc. (NASDAQ:MTEN) were down 25% to $0.0220. Mingteng International announced a 1-for-200 reverse stock split.
• Jet.AI Inc. (NASDAQ:JTAI) was down, falling 21% to $0.2728.

Commodities

In commodity news, oil traded down 1.9% to $59.47 while gold traded up 0.2% at $4,845.00.

Silver traded up 1.7% to $94.215 on Wednesday, while copper fell 0.4% to $5.7450.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 1.4%, while Spain's IBEX 35 Index rose 1.5%. London's FTSE 100 rose 0.7%, Germany's DAX gained 1.5% and France's CAC 40 gained 1.5% during the session.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan's Nikkei gaining 1.73%, Hong Kong's Hang Seng Index gaining 0.17%, China's Shanghai Composite gaining 0.14% and India's BSE Sensex rising 0.49%.

Economics

• U.S. initial jobless claims rose by 1,000 from the previous week to 200,000 during the week ending Jan. 17.
• The U.S. economy grew at an annualized rate of 4.4% in the third quarter, above the preliminary estimate of 4.3% and recording the strongest growth since the third quarter of 2023.

Photo via Shutterstock