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    Dow Falls Over 1%; US Initial Jobless Claims Decline

    Benzinga·04/17/2025 13:58:19
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    U.S. stocks traded mixed this morning, with the Dow Jones index falling more than 1% on Thursday.

    Following the market opening Thursday, the Dow traded down 1.22% to 39,187.35 while the NASDAQ gained 0.28% to 16,352.96. The S&P 500 also rose, gaining, 0.11% to 5,281.74.

    Check This Out: Top 3 Industrials Stocks That May Plunge This Month

    Leading and Lagging Sectors

    Energy shares surged by 2.2% on Thursday.

    In trading on Thursday, health care shares fell by 0.3%.

    Top Headline

    U.S. initial jobless claims declined by 9,000 from the previous week to 215,000 during the second week of April, versus market estimates of 225,000.

    Equities Trading UP
                           

    • Baijiayun Group Ltd (NASDAQ:RTC) shares shot up 109% to $0.4484 after the company announced it formed a partnership with Xinlantian to combine their AI video and large language model technologies with expertise in autism rehabilitation.
    • Shares of Adagio Medical Holdings, Inc. (NASDAQ:ADGM)got a boost, surging 58% to $1.3820 after the FDA granted Breakthrough Device Designation for the vCLAS cryoablation system.
    • Channel Therapeutics Corporation (NYSE:CHRO) shares were also up, gaining 59% to $1.9950. Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) and Channel Therapeutics on Thursday signed a definitive merger agreement to combine Ligand's wholly owned subsidiaries, Pelthos Therapeutics Inc. and LNHC, Inc. (collectively Pelthos) with CHRO Merger Sub Inc., a wholly owned subsidiary of Channel.

    Equities Trading DOWN

    • Click Holdings Limited (NASDAQ:CLIK) shares dropped 39% to $0.4157.
    • Shares of CaliberCos Inc. (NASDAQ:CWD) were down 33% to $0.3020 as the company announced the pricing of the public offering units.
    • iOThree Limited (NASDAQ:IOTR) was down, falling 35% to $1.20.

    Commodities

    In commodity news, oil traded up 1.1% to $63.14 while gold traded down 0.1% at $3,344.80.

    Silver traded down 1.1% to $32.610 on Thursday, while copper fell 1% to $4.6380.

    Euro zone

    European shares were lower today. The eurozone's STOXX 600 fell 0.4%, Germany's DAX 40 declined 0.6% and France's CAC 40 dipped 0.7%. Spain's IBEX 35 Index slipped 0.5%, while London's FTSE 100 fell 0.5%.

    Asia Pacific Markets

    Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 1.35%, China's Shanghai Composite gaining 0.13%, Hong Kong's Gang Seng index gaining 1.61% and India's BSE Sensex gaining 1.96%.

    Economics

    • U.S. housing starts dipped 11.4% month-over-month to an annualized rate of 1.324 million in March.
    • U.S. initial jobless claims declined by 9,000 from the previous week to 215,000 during the second week of April, versus market estimates of 225,000.
    • The Philadelphia Fed Manufacturing Index fell 39 points to a reading of -26.4 in April, and down from market estimates of 2.
    • U.S. building permits climbed by 1.6% to an annualized rate of 1.482 million in March.

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