Benzinga
Published May 09, 2024 17:01
Updated May 09, 2024 18:10
Dow Jumps Over 150 Points; US Foods Posts Upbeat Earnings
Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded higher midway through trading, with the Dow Jones index jumping over 150 points on Thursday.
The Dow traded up 0.48% to 39,244.53 while the NASDAQ rose 0.32% to 16,354.20. The S&P 500 also rose, gaining, 0.37% to 5,206.94 .
Check This Out: Roblox, Beyond Meat And 3 Stocks To Watch Heading Into Thursday
Leading and Lagging Sectors
Real estate shares rose by 1.7% on Thursday.
In trading on Thursday, information technology shares fell by 0.2%.
Top Headline
US Foods Holding Corp (NYSE:USFD) posted better-than-expected first-quarter financial results on Thursday.
US Foods reported first-quarter FY24 sales growth of 4.8% year-on-year to $8.95 billion, beating the analyst consensus estimate of $8.91 billion. Adjusted EPS was 54 cents, beating the consensus estimate of 53 cents.
Equities Trading UP
Commodities
In commodity news, oil traded up 0.3% to $79.26 while gold traded up 0.8% at $2,340.50.
Silver traded up 2.7% to $28.35 on Thursday, while copper rose 0.4% to $4.5625.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.25%, Germany's DAX rose 1.04% and France's CAC 40 gained 0.66%. Spain's IBEX 35 Index fell 0.89%, while London's FTSE 100 rose 0.50%.
The Bank of England held the key bank rate at 5.25% during its latest meeting.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan's Nikkei falling 0.34%, China's Composite Index gaining 1.22%, Hong Kong's Hang Seng Index gaining 0.83% and India's S&P BSE Sensex falling 1.4%.
The index of leading economic indicators in Japan fell to 111.4 in March 2024 versus a revised reading of 112.1 in the prior month, while index of coincident economic indicators climbed to 113.9 in March versus a final level of 111.5 a month ago.
Chinese trade surplus shrank to $72.35 billion in April from $86.46 billion in the year-ago period a year earlier. Imports to China rose by 8.4%, while exports from China gained 1.5% year-over-year in April.
Economics
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