Dow Tumbles Over 100 Points; US Jobless Claims Fall to 197,000

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 100 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.24% to 51,385.69 while the NASDAQ dipped 0.63% to 26,766.06. The S&P 500 also fell, dropping, 0.38% to 7,676.54.

Leading and Lagging Sectors

Communication services shares jumped by 0.8% on Thursday.

In trading on Thursday, information technology stocks fell by 1%.

Top Headline

U.S. initial jobless claims fell by 1,000 to 197,000 in the second week of September, compared to market estimates of 201,000.

Equities Trading UP
           

• Apimeds Pharmaceuticals US Inc (NYSE:APUS) shares shot up 245% to $7.91 after the company announced its subsidiary, MindWave, signed a 12-month technology services agreement with AQUAE Holdings to deploy its MindChain infrastructure as the foundation of AQUAEChain.
• Shares of Surrozen Inc (NASDAQ:SRZN) got a boost, surging 109% to $33.84. Surrozen recently announced submission of IND application for SZN-8141 for the treatment of diabetic macular edema.
• Profusa Inc (NASDAQ:PFSA) shares were also up, gaining 85% to $3.79 after the company announced it received a positive decision from GMED regarding certification of its quality management system to ISO 13485.

Equities Trading DOWN

• Beneficient (NASDAQ:BENF) shares dropped 33% to $1.93. Beneficient shares jumped 439% on Wednesday after the company announced a strategy to eliminate HCLP debt and Heppner Equity Interests.
• Shares of Artelo Biosciences Inc (NASDAQ:ARTL) were down 30% to $5.10. Artelo Biosciences shares jumped 76% on Wednesday after the company announced the filing of a provisional patent application for ART27.13 as a monotherapy and in combination with GLP-1 receptor agonists.
• VisionSys AI Inc. (NASDAQ:VSA) was down, falling 31% to $2.5210 after jumping 38% on Wednesday.

Commodities

In commodity news, oil traded up 1.6% to $93.59 while gold traded down 0.1% at $4,313.60.

Silver traded down 1.4% to $64.030 on Thursday, while copper rose 0.1% to $6.7560.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 slipped 0.2%, while Spain’s IBEX 35 Index rose 0.3%, London’s FTSE 100 rose 0.1%, Germany’s DAX fell 0.2%, while France’s CAC 40 declined 0.3%.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan’s Nikkei 225 gaining 0.76%, Hong Kong’s Hang Seng index dipping 0.29%, China’s Shanghai Composite falling 1.22% and India’s BSE Sensex dropping 1.67%.

Economics

• The U.S. current account deficit increased to $246 billion in the second quarter, from a revised $212.6 billion gap in the previous quarter, versus market estimates of a $255 billion gap.
• U.S. initial jobless claims fell by 1,000 to 197,000 in the second week of September, compared to market estimates of 201,000.
• U.S. building permits fell 2.1% month-over-month to 1.403 million units in August, versus initial estimates of a 2.7% decline.

Photo via Shutterstock