Media technology

Midday Market Update: Crude Oil Rises 0.5%; Integrated multimedia technology shares the leap

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Midway through Thursday’s session, the Dow Jones traded up 0.04% to 36,504.54 while the NASDAQ rose 0.59% to 15,859.87. The S&P also rose, gaining 0.14% to 4,799.86.

The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 54,656,860 cases with an estimated 844,270 deaths. India has confirmed a total of at least 34,822,040 cases and 480,860 deaths, while Brazil has reported more than 22,263,830 cases of COVID-19 with 618,870 deaths. In total, there have been at least 285,031,830 cases of COVID-19 worldwide with more than 5,441,370 deaths.

Sectors ahead and behind

Communications services stocks climbed 0.5% on Thursday. Meanwhile, the top industry winners included iQIYI, Inc. (NASDAQ: IQ), up 20% and Yalla Group Limited (NYSE: YALA) up 17%.

In Thursday’s trading, materials stocks fell 0.3%.

Superior title

Initial jobless claims in the United States fell 8,000 from the previous period to 198,000 during the week ending December 25. However, analysts were expecting a reading of 208,000.

Bullish stock trading

Molecular Models, Inc. (NASDAQ: MTEM) Shares jumped 28% to $ 4.3199.

Actions of UCloudlink Group Inc. (NASDAQ: UCL) got a boost, pulling 11% to $ 4.89 after jumping more than 15% on Wednesday.

Limited integrated multimedia technology Shares (NASDAQ: IMTE) also rose, gaining 19% to $ 5.35 as the company agreed to take over the rights and obligations of a cooperation agreement on the development of a Blockchain business.

Discover these great engines of the day

Downward trading of stocks

Vector Group Ltd. (NYSE: VGR) shares fell 35% to $ 11.20. Vector Group said it has completed the spin-off of Douglas Elliman Inc. into a publicly traded stand-alone company.

Actions of Pop Culture Group Co., Ltd (NASDAQ: CPOP) fell 16% to $ 2.74 after climbing 41% on Wednesday.

Takung Art Co., Ltd. (NASDAQ: TKAT) was lower, falling 15% to $ 4.44 after jumping about 37% on Wednesday.

Merchandise

In the commodities news, oil traded up 0.5% to $ 76.91, while gold traded up 0.5% to $ 1,815.10.

Silver traded up 0.9% to $ 23.06 on Thursday while copper fell 0.6% to $ 4.3855.

Eurozone

European stocks were mostly higher today. The eurozone STOXX 600 gained 0.15%, the Spanish Ibex index rose 0.46% and the German DAX 40 gained 0.21%. Meanwhile, the FTSE 100 slipped 0.24%, while the French CAC 40 gained 0.16% and the Italian FTSE MIB gained 0.01%.

Spain’s annual inflation rate rose to 6.7% in December from 5.5% the month before. UK house prices rose 10.4% year-on-year in December, after rising 10% the month before.

Economy

Initial jobless claims in the United States fell 8,000 from the previous period to 198,000 during the week ending December 25. However, analysts were expecting a reading of 208,000.

The Chicago PMI index rose to 63.1 in December from 61.8.

November farm price data will be released at 3 p.m. ET.

Check out the full economic calendar here

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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