U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining over 150 points on Thursday.

The Dow traded up 0.54% to 50,186.91 while the NASDAQ rose 0.63% to 25,328.88. The S&P 500 also rose, gaining, 0.26% to 7,285.56.

Leading and Lagging Sectors

Industrials shares jumped by 1.5% on Thursday.

In trading on Thursday, communication services stocks fell by 1.6%.

Top Headline

Driven Brands Holdings Inc (NASDAQ:DRVN) reported better-than-expected first-quarter adjusted EPS results and reaffirmed its FY26 adjusted EPS and sales guidance.

Equities Trading UP
           

  • Propanc Biopharma Inc (NASDAQ:PPCB) shares shot up 314% to $5.59 after the company announced a $5 million share repurchase program.
  • Shares of Enliven Therapeutics Inc (NASDAQ:ELVN) got a boost, surging 10% to $40.67 after the company announced efficacy Phase 1 data for ELVN-001 in patients with chronic myeloid leukemia.
  • Navan Inc (NASDAQ:NAVN) shares were also up, gaining 12% to $23.41 after the company reported better-than-expected quarterly financial results and raised its FY27 sales guidance above estimates.

Equities Trading DOWN

  • Dana Inc (NYSE:DAN) shares dropped 13% to $30.95 after the company announced that it will merge with Eaton’s Mobility unit to create a combined entity with an enterprise value of over $10 billion.
  • Shares of Atossa Therapeutics Inc (NASDAQ:ATOS) were down 41% to $2.58 after the company announced registered direct offering of up to $16.5 million in gross proceeds.
  • Oracle Corp (NYSE:ORCL) was down, falling 12% to $176.72 after the company reported its fourth-quarter financial results. Also, it expects to raise approximately $40 billion through a combination of debt and equity financing, including its previously announced $20 billion at-the-market equity issuance.

Commodities

In commodity news, oil traded up 0.7% to $90.62 while gold traded down 0.7% at $4,103.10.

Silver traded down 0.7% to $64.275 on Thursday, while copper rose 0.1% to $6.2730.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 1.1%, while Spain's IBEX 35 Index rose 1.4%. London's FTSE 100 rose 1.1%, Germany's DAX gained 0.5%, while France's CAC 40 rose 1.1%.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan's Nikkei 225 gaining 0.06%, Hong Kong's Hang Seng Index declining 0.65%, China's Shanghai Composite dipping 0.16% and India's BSE Sensex falling 0.20%.

Economics

  • U.S. initial jobless claims increased by 4,000 to a three-month high of 229,000 during the first week of June, compared to market estimates of 219,000.
  • Producer prices for final demand rose 1.1% month-over-month in May, the same as in April.

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