Here’s what’s happening in the markets today.
The S&P 500 rose 0.3% early in the session after declining slightly on Wednesday. The Nasdaq composite rose 0.3%.
The Labor Department reported that initial claims for state unemployment benefits fell slightly last week to 385,000, down 14,000 from the previous week.
Markets in Europe were slightly higher, with the Stoxx Europe 600 up 0.3 percent. The Bank of England forecast on Thursday that inflation in Britain would hit 4% in the last quarter of the year, a level that is double the central bank’s target.
Oil prices rose Thursday, with West Texas Intermediate, the benchmark for US crude, up 0.5% to $ 68.52 per barrel.
Robinhood fell more than 11% on Thursday after the company said early investors could sell up to 97.9 million shares over time. On Wednesday, the stock trading app’s shares rose 50% in their second day of big gains.
Uber edged down early in Thursday, a day after its company’s results were released. It made a profit of $ 1.1 billion last quarter, but after adjusting for a one-time gain, its losses amounted to $ 509 million.
Moderna rose 5% after reporting Thursday that the protection offered by its Covid vaccine does not wane in the first six months after the second dose. The company also reported higher-than-expected revenue of $ 4.4 billion for the second quarter.
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