U.S. stocks traded higher this morning, with the Dow Jones index gaining around 250 points on Thursday.
Following the market opening Thursday, the Dow traded up 0.50% to 52,107.28 while the NASDAQ surged 0.70% to 25,654.49. The S&P 500 also rose, gaining, 0.58% to 7,401.17.
Leading and Lagging Sectors
Information technology shares jumped by 1.6% on Thursday.
In trading on Thursday, communication services stocks fell by 1.9%.
Top Headline
Micron Technology Inc. (NASDAQ:MU) posted better-than-expected financial results for the third quarter of fiscal 2026 and issued strong guidance for the current quarter, after the closing bell on Wednesday.
Micron reported third-quarter revenue of $41.46 billion, exceeding analyst estimates of $35.59 billion, according to Benzinga Pro. The semiconductor company posted adjusted earnings of $25.11 per share, beating analyst estimates of $20.63 per share.
Equities Trading UP
- Triller Group Inc (NASDAQ:ILLR) shares shot up 259% to $2.76 after the company announced its subsidiary, Trendy Reach Holdings, will acquire 3.917 million SpaceX shares through SAC1.
- Shares of Kustom Entertainment Inc (NASDAQ:KUST) got a boost, surging 73% to $2.43 after the company signed an agreement to divest its video solutions division to Cycurion for $5.5 million.
- Autozi Internet Technology (Global) Ltd (NASDAQ:AZI) shares were also up, gaining 58% to $1.80 after the company announced it signed a $5.25 million securities purchase agreement.
Equities Trading DOWN
- Digital Currency X Technology Inc (NASDAQ:DCX) shares dropped 38% to $1.00. Digital Currency X Technology entered into private placement for up to $700 million of units at $2.11 per unit.
- Shares of Paranovus Entertainment Technology Ltd (NASDAQ:PAVS) were down 31% to $0.092 after the company announced a 1-for-100 reverse share split.
- Nano-X Imaging Ltd (NASDAQ:NNOX) was down, falling 31% to $1.09 after the company announced first-quarter results.
Commodities
In commodity news, oil traded down 1.1% to $69.56 while gold traded up 0.4% at $4,025.40.
Silver traded up 0.1% to $58.170 on Thursday, while copper rose 2.1% to $6.0720.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 0.9%, while Spain’s IBEX 35 Index rose 0.5%. London’s FTSE 100 rose 0.9%, Germany’s DAX jumped 1%, while France’s CAC 40 gained 0.7%.
Asia Pacific Markets
Asian markets closed mostly higher on Thursday, with Japan’s Nikkei 225 jumping 4.61%, Hong Kong’s Hang Seng Index falling 1.43%, China’s Shanghai Composite rising 0.23% and India’s BSE Sensex gaining 0.14%.
Economics
- U.S. personal income rose by 0.7% month-over-month in May following a flat reading in April.
- U.S. personal spending increased by 0.7% month-over-month in May following a revised 0.4% gain in April.
- The core PCE price index surged by 3.4% year-over-year in May, the most since October 2023.
- U.S. initial jobless claims fell by 12,000 to 215,000 in the third week of June, compared to market estimates of 225,000.
- U.S. durable goods orders fell by 4.5% month-over-month to $332 billion in May, following a revised 8.5% gain in April.
- The Chicago Fed National Activity Index fell to –0.10 in May from a revised reading of +0.19 in April.
- The U.S. economy grew an annualized 2.1% in the first quarter, accelerating from 1.6% in the second estimate, and up from 0.5% in the fourth quarter.
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