U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 200 points on Thursday.
The Dow traded up 0.78% to 49,462.35 while the NASDAQ gained 0.94% to 23,443.19. The S&P 500 also rose, gaining, 0.63% to 6,918.78.
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Leading and Lagging SectorsCommunication services shares gained by 1.3% on Thursday.
In trading on Wednesday, utilities stocks dipped by 0.5%.
Top Headline
Abbott Laboratories (NYSE:ABT) stock fell over 7% on Thursday after the company reported fourth-quarter 2025 sales and the first-quarter 2026 earnings outlook below expectations.
The company reported quarterly sales of $11.46 billion, slightly missing the consensus of $11.80 billion. Sales increased 4.4% on a reported basis, 3% on an organic basis, or 3.8% when excluding COVID-19 testing-related sales.
The U.S. MedTech giant reported adjusted earnings of $1.50, in line with Wall Street estimates.
Equities Trading UP
- 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) shares shot up 158% to $5.15 after the company announced a partnership with Runway Health to expand pre-departure access to ARAKODA.
- Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) got a boost, surging 18% to $28.25 after the company reported better-than-expected fourth-quarter financial results.
- Creative Media & Community Trust Corporation (NASDAQ:CMCT) shares were also up, gaining 52% to $4.4494 after the company announced it closed the sale of its lending division.
Equities Trading DOWN
- C3is Inc. (NASDAQ:CISS) shares dropped 37% to $0.088 after the company announced a 1-for-20 reverse stock split.
- Shares of Mingteng International Corporation Inc. (NASDAQ:MTEN) were down 34% to $0.020. Mingteng International announced a 1-for-200 reverse stock split.
- POET Technologies Inc. (NASDAQ:POET) was down, falling 12% to $7.35 after the company announced a $150 million offering of 20.690 million shares.
CommoditiesIn commodity news, oil traded down 2.1% to $59.37 while gold traded up 0.6% at $4,864.60.
Silver traded up 2.7% to $95.135 on Thursday, while copper fell 0.4% to $5.7435.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 1.09%, while Spain's IBEX 35 Index rose 1.01%. London's FTSE 100 rose 0.26%, Germany's DAX gained 1.19% and France's CAC 40 gained 1.12% 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.
- U.S. personal income increased by 0.3% month-over-month to $26.403 trillion in November compared to a 0.1% gain in October.
- U.S. personal spending climbed by 0.5% month-over-month to an annualized $21.410 trillion in November following a 0.5% gain in the previous month.
- The US PCE price index increased 0.2% month-over-month in November, the same as in the previous month and in-line with market estimates.
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