U.S. stocks traded higher midway through trading, with the Dow Jones index jumping more than 500 points on Thursday.

The Dow traded up 1.25% to 42,023.61 while the NASDAQ rose 2.30% to 17,976.99. The S&P 500 also rose, gaining, 1.60% to 5,707.97.

Check This Out: Alphabet, McDonald’s And 2 Other Stocks Executives Are Selling

Leading and Lagging Sectors

Information technology shares jumped by 2.9% on Thursday.

In trading on Thursday, utilities shares fell by 0.6%.

Top Headline

FactSet Research Systems Inc FDS reported better-than-expected results for its fiscal fourth quarter.

The company posted quarterly sales growth of 4.9% year-on-year to $562.2 million, beating the analyst consensus estimate of $546.81 million. Adjusted EPS of $3.74 beat the analyst consensus estimate of $3.62.

FactSet said it sees fiscal 2025 revenue of $2.285 billion–$2.305 billion versus $2.301 billion estimate and adjusted EPS of $16.80–$17.40 versus consensus of $17.36.

Equities Trading UP
                       

• Edgewise Therapeutics, Inc. EWTX shares shot up 37% to $26.23 after the company announced top-line data of EDG-7500 from the Phase 1 trial in healthy subjects and the single-dose arm of the Phase 2 CIRRUS-HCMtrial in patients with obstructive HCM.
• Shares of Signing Day Sports, Inc. SGN got a boost, surging 257% to $0.4545 after the company announced it will acquire sports gaming technology company Swifty Global.
• Mobileye Global Inc. MBLY shares were also up, gaining 16% to $13.51 after Intel reportedly said it does not have plans to divest a majority interest in the company.

Equities Trading DOWN

• Haoxi Health Technology Limited HAO shares dropped 79% to $0.64. Haoxi Health Technology announced the pricing of a $12 million underwritten follow-on public offering of 4 million units at a price of $3 per unit.
• Shares of Progyny, Inc. PGNY were down 30% to $17.21 after a client elected to exercise an option to terminate its services agreement with the company.
• Vivos Therapeutics, Inc. VVOS was down, falling 25% to $3.10 after the company announced a $4.3 million registered offering of 1.36 million shares of common stock at $3.15 per share.

Commodities

In commodity news, oil traded up 1% to $71.64 while gold traded up 0.1% at $2,600.00.

Silver traded up 1.4% to $31.115 on Thursday, while copper rose 1.1% to $4.3445.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 climbed 1.35%, Germany’s DAX climbed 1.66% and France’s CAC 40 jumped 2.11%. Spain’s IBEX 35 Index rose 0.50%, while London’s FTSE 100 rose 0.85%.

The Bank of England maintained the Bank Rate at 5% during its September meeting, after cutting rates by 25 bps in August. The current account surplus in the Eurozone increased to €48 billion in July from €25.5 billion in the year-ago period.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan’s Nikkei 225 gaining 2.13%, Hong Kong’s Hang Seng Index surging 2%, China’s Shanghai Composite Index gaining 0.69% and India’s BSE Sensex gaining 0.29%.

Hong Kong’s unemployment rate came in unchanged at 3% in the three months ending August. The Hong Kong Monetary Authority cut its base rate by 50bps to 5.25% at its recent meeting.

Economics

• The U.S. reported a current account deficit of $266.8 billion in the second quarter versus a gap of $241 billion in the prior period and higher than market estimates of a $260 billion gap.
• U.S. initial jobless claims fell by 12,000 from the prior week to 219,000 in the week ending September 14, compared to market expectations of 230,000.
• The Philadelphia Fed Manufacturing Index climbed to 1.7 in September from -7 in the previous month and topping market estimates of -1.

Now Read This: