U.S. stocks displayed a mixed performance as the trading day neared its end, witnessing the S&P 500 index rising by approximately 0.3% on Thursday.
The Dow Jones Industrial Average edged down by 0.08% to 38,919.26, while the NASDAQ Composite climbed 0.53% to 16,032.35. The S&P 500 also made gains, increasing by 0.30% to reach 5,084.84.
Real estate shares emerged as the top performers on Thursday, soaring by 1.2%, while health care shares experienced a decline of 0.6% during trading.
The Hayward Holdings, Inc. stock (NYSE: HAYW) surged over 17% after the company reported robust fourth-quarter results, with adjusted earnings of 20 cents per share, surpassing market expectations of 18 cents per share. Quarterly sales amounted to $278.47 million, exceeding estimates of $271.92 million.
Enveric Biosciences, Inc. (NASDAQ: ENVB) shares surged by an impressive 125% to $1.87 as the company signed non-binding term sheets for the exclusive out-licensing of three compound classes.
Additionally, Endava plc (NYSE: DAVA) witnessed a decline of 39% to $38.90 post its second-quarter earnings report.
In commodity news, oil prices saw a modest increase of 0.1% to $78.56, while gold prices rose by 0.6% to $2,054.50. Silver prices surged by 1.1% to $22.895, and copper prices also showed a slight increase of 0.1% to $3.8460.
European markets closed with mixed results, with the eurozone’s STOXX 600 index rising by 0.01%. The FTSE 100 in London saw a 0.07% increase, while the IBEX 35 in Spain fell by 0.67%. Germany’s DAX gained 0.44%, the French CAC 40 declined by 0.34%, and Italy’s FTSE MIB Index dropped by 0.11%.
Asian markets also displayed mixed performances, with the Nikkei 225 in Japan falling by 0.11%, the Hang Seng Index in Hong Kong dropping 0.15%, the Shanghai Composite Index in China rising by 1.94%, and India’s S&P BSE Sensex gaining 0.27%.
In economic news, the annual PCE inflation rate dipped slightly from 2.6% in December 2023 to 2.4% in January 2024. Personal spending increased by 0.2% from the previous month, while personal income rose by 1%. Initial jobless claims in the U.S. spiked by 13,000 to 215,000 for the week ending Feb. 24.
The Chicago PMI decreased to 44 in February from 46 in the prior month, pending home sales in the U.S. plummeted by 4.9% in January, and U.S. natural gas supplies decreased by 96 billion cubic feet in the week ended Feb. 23, 2024.