Dow Surges 250 Points; US Weekly Jobless Claims Fall

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

Following the market opening Thursday, the Dow traded up 0.47% to 53,606.62 while the NASDAQ dipped 1.35% to 25,388.97. The S&P 500 also fell, dropping, 0.55% to 7,647.70.

Leading and Lagging Sectors

Communication services shares jumped by 1.4% on Thursday.

In trading on Thursday, information technology stocks fell by 2.4%.

Top Headline

U.S. initial jobless claims declined by 6,000 to 189,000 in the final week of October, compared to market estimates of 196,000 and versus a revised reading of 195,000 in the previous week.

Equities Trading UP
           

• Antelope Enterprise Holdings Ltd (NASDAQ:AEHL) shares shot up 83% to $11.50 after dropping over 5% on Wednesday.
• Shares of Zeta Network Group (NASDAQ:ZNB) got a boost, surging 97% to $1.22 after rising over 12% on Wednesday.
• eLong Power Holding Ltd (NASDAQ:ELPW) shares were also up, gaining 48% to $3.72. Elong Power’s subsidiary entered into a three-year energy storage cooperation agreement worth at least RMB2 billion ($300 million).

Equities Trading DOWN

• MNTN Inc (NYSE:MNTN) shares dipped 50% to $5.18 after the company reported worse-than-expected quarterly financial results and lowered its FY2026 sales guidance below estimates.
• Shares of Veracyte Inc (NASDAQ:VCYT) were down 50% to $26.42 after the company reported third-quarter financial results and narrowed its FY26 sales guidance below estimates.
• Purecycle Technologies Inc (NASDAQ:PCT) was down, falling 35% to $1.80 after the company reported worse-than-expected third-quarter sales results.

Commodities 

In commodity news, oil traded up 2% to $89.84 while gold traded up 1.5% at $4,133.30.

Silver traded up 1.1% to $52.875 on Thursday, while copper rose 0.1% to $6.4365.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.6%, while Spain’s IBEX 35 Index jumped 1.7%, London’s FTSE 100 rose 0.8%, Germany’s DAX surged 0.9%, while France’s CAC 40 climbed 1.3%.

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan’s Nikkei 225 falling 1.79%, Hong Kong’s Hang Seng index gaining 3.67%, China’s SSE Composite Index rising 0.10% and India’s BSE Sensex gaining 2.60%.

Economics

• U.S. initial jobless claims declined by 6,000 to 189,000 in the final week of October, compared to market estimates of 196,000 and versus a revised reading of 195,000 in the previous week.
• U.S. nonfarm business sector labor productivity rose by 3.6% in the third quarter, beating market estimates of a 2.8% gain.
• Unit labor costs fell 0.7% in the third quarter, missing market estimates of a 0.6% gain.
• U.S.-based employers announced job cuts of 43,994 in October, versus 43,281 cuts in the previous month.

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