General market trends
During the regular trading session on Thursday, stocks continued their rally:
- The S&P 500 reached its highest closing level this year.
- The broader index rose 0.62% to 4293.93, just below the key 4300 threshold.
- The Dow Jones Industrial Average rose 168.59 points (0.5%) in its third straight day of gains.
- The Nasdaq Composite Index rallied 1.02%.
Investors were encouraged by signs that a broader range of equities, including small-cap equities (small company stocks), were participating in the recent rally, although some market participants warned that the rally could be short-lived.
Previous session's movement leaders
The stocks of the following companies showed the greatest growth:
Ideanomics Inc. +7.32%
Ideanomics, Inc. (NASDAQ: IDEX) is a global electric vehicle company that is focused on driving the adoption of electric commercial vehicles and associated sustainable energy consumption. It is made up of 5 subsidiaries, including VIA Motors, Solectrac, Treeletrik, Wave and US Hybrid. Ideanomics is a CALSTART member, a national non-profit organisation focused on accelerating clean transportation.
GameStop Corp. +5.78%
GameStop Corp. is an American video game, consumer electronics, and gaming merchandise retailer. The company is headquartered in Grapevine, Texas, and is the largest video game retailer worldwide. The company operates 4,413 stores, including 2,949 in the United States, 216 in Canada, 419 in Australia and 829 in Europe under the GameStop, EB Games, EB Games Australia, Micromania-Zing, ThinkGeek and Zing Pop Culture brands.
Nordstrom, Inc. is an American luxury department store chain headquartered in Seattle, Washington, founded in 1901. The company offers a wide selection of branded and private label merchandise through its Nordstrom branded full-line stores and online stores, Nordstrom Rack stores, BP, Zella and Treasure & Bond. Previous expansions beyond the United States include Puerto Rico and Canada.
A key to successful trading is keeping track of significant news and events that can impact the market. The more targeted and significant the news, the greater the potential volatility of assets post-publication. It's crucial to monitor these events in advance to anticipate their impact on various trading instruments.
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Hewlett-Packard (HP) is an American multinational information technology company headquartered in Palo Alto, California, that develops personal computers, printers and related supplies, as well as 3D printing solutions. HP is listed on the New York Stock Exchange and is a constituent of the S&P 500 Index. It is the world's 2nd largest personal computer vendor by unit sales after Lenovo. In the Fortune 500 list, HP is ranked the 58th-largest United States corporation by total revenue.
United States. Initial Jobless Claims (12:30 GMT)
Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest US economic data, but the market impact varies from week to week. A higher-than-expected reading should be taken as negative/bearish for the USD, while a lower-than-expected reading should be taken as positive/bullish for the USD.