Dow Jumps Over 250 Points; US Initial Jobless Claims Rise

U.S. stocks traded higher this morning, with the Dow Jones index gaining over 250 points on Thursday.

Following the market opening Thursday, The Dow traded up 0.58% to 50,210.51 while the NASDAQ rose 0.67% to 25,337.89. The S&P 500 also rose, gaining, 0.44% to 7,298.86.

Leading and Lagging Sectors

Materials shares jumped by 1.5% on Thursday.

In trading on Thursday, communication services stocks fell by 1.3%.

Top Headline

U.S. initial jobless claims increased by 4,000 to a three-month high of 229,000 during the first week of June, compared to market estimates of 219,000.

Equities Trading UP
           

• Propanc Biopharma Inc (NASDAQ:PPCB) shares shot up 343% to $5.98 after the company announced a $5 million share repurchase program.
• Shares of Everbright Digital Holding Ltd (NASDAQ:EDHL) got a boost, surging 311% to $14.39.
• Galaxy Payroll Group Ltd (NASDAQ:GLXG) shares were also up, gaining 262% to $3.53.

Equities Trading DOWN

• Big Tree Cloud Holdings Ltd (NASDAQ:DSY) shares dropped 47% to $3.80 after jumping 291% on Wednesday.
• Shares of Atossa Therapeutics Inc (NASDAQ:ATOS) were down 43% to $2.53 after the company announced registered direct offering of up to $16.5 million in gross proceeds.
• VS Media Holdings Ltd (NASDAQ:VSME) was down, falling 40% to $1.23 after jumping 149% on Wednesday.

Commodities

In commodity news, oil traded down 1.3% to $88.84 while gold traded down 0.7% at $4,104.50.

Silver traded down 1.5% to $63.750 on Thursday, while copper fell 0.2% to $6.2560.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.9%, while Spain's IBEX 35 Index rose 1.4%. London's FTSE 100 rose 1%, Germany's DAX gained 0.3%, while France's CAC 40 rose 1%.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan's Nikkei 225 gaining 0.06%, Hong Kong's Hang Seng Index declining 0.65%, China's Shanghai Composite dipping 0.16% and India's BSE Sensex falling 0.20%.

Economics

• U.S. initial jobless claims increased by 4,000 to a three-month high of 229,000 during the first week of June, compared to market estimates of 219,000.
• Producer prices for final demand rose 1.1% month-over-month in May, the same as in April.

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