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Source:Copyright © 2021 Kalkine Media Pty Ltd.
The S&P 500 rallied on Thursday, April 8, 2021, to gain 17 points and close at a record high. NASDAQ Composite Index and the Dow Industrial Average also ended the day on a positive note. The technology stocks staged a strong performance on all three U.S. stock market benchmarks.
The S&P 500 rose 0.42 percent to 4,097.17 while the NASDAQ Composite Index rallied 1.03 percent to close at 13,829.31. The Dow Jones Industrial Average was up 0.17 percent to 33,503.57. The small-cap Russell 2000 also declined 2.82 percent to 2158.68.
The seasonally adjusted unemployment insurance weekly initial claims during the week ended April 3 rose 16,000 to 744,000 from 728,000 in the previous week, according to the data from the U.S. Department of Labor. The adjusted insured unemployment rate during the week remained unchanged from the previous week’s rate of 2.6 percent.
Meanwhile, President Joe Biden on Wednesday said he is open to negotiations on the proposed corporate tax hike to 28 percent, which is part of the US$2 trillion infrastructure plan.
Plant-based burger maker Impossible Foods Inc. is reportedly looking to become public through an IPO or a merger with special purpose acquisition company in a deal that could value it at around US$10 billion or more.
©Kalkine Group 2021.
Top Gainers
Top performers on S&P 500 included ETSY Inc. (5.57%), IPG Photonics Corp. (5.11%), Penn National Gaming Inc. (4.22%) and Align Technology Inc. (4.20%).
Chemomab Therapeutics Ltd. (111.54%), ORBCOMM Inc. (52.05%), Vericity Inc. (44.63%) and BIOLASE Inc. (33.86%) were the top performers on NASDAQ.
On Dow Jones, Apple Inc. (1.92%), Salesforce.Com Inc. (1.66%), Goldman Sachs Group Inc. (1.41%) and Microsoft Corp. (1.34%) gained the most.
Top Losers
Top laggards on S&P 500 Constellation Brands Inc. (4.57%), Lumen Technologies Inc. (4.23%), ViacomCBS Inc. (3.65%) and Discovery Inc. (3.48%)
Astrotech Corp. (29.86%), Franklin Wireless Corp. (15.12%), Bonso Electronics International Inc. (12.03%) and Genetron Holdings Ltd. (11.89%) were among the top losers on NASDAQ.
On Dow Jones, Nike Inc. (2.09%), Walgreens Boots Alliance Inc. (1.42%), Verizon Communications Inc. (1.32%) and Travelers Companies Inc. (1.27%) were the laggards.
Volume Movers
Top volume movers are Castor Maritime Inc. (25.38M), Apple Inc. (18.15M), Sundial Growers Inc (17.77M), ViacomCBS Inc. (14.58M), General Electric Co. (10.39M) and Ford Motor Co. (10.17M).
Image Source: EODHD/Others, S&P 500 Index one year performance
Futures & Commodities
Gold futures grew 0.86 percent to US$ 1,756.60 per ounce on Thursday. Silver rose 1.10 percent to US$ 25.525 per ounce while copper was up 0.93 percent to US$4.0922.
Brent oil futures edged down 0.02 percent to US$ 63.27 while WTI crude was down 0.03 percent to US$ 59.75 per barrel.
Bond Market
The 30-year Treasury bond yield fell 0.85 percent on Thursday to 2.316 and the 10-year bond yield dropped 1.68 percent to 1.626.
US Dollar Futures Index also declined slightly by 0.43 percent to US$ 92.078.
