Mid-Afternoon Market Update: Dow Jumps Over 200 Points; Tempur Sealy Shares Spike Higher

Toward the end of trading Thursday, the Dow traded up 0.62% to 35,149.19 while the NASDAQ rose 0.31% to 14,808.82. The S&P also rose, gaining 0.61% to 4,427.67.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 34,675,350 cases with around 611,800 deaths. India confirmed a total of at least 31,528,110 cases and 422,660 deaths, while Brazil reported over 19,797,080 COVID-19 cases with 553,160 deaths. In total, there were at least 196,040,880 cases of COVID-19 worldwide with more than 4,188,530 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Financials shares climbed 1.4% on Thursday. Meanwhile, top gainers in the sector included LendingClub Corporation LC, up 54% and AGM Group Holdings Inc. AGMH up 7%.

In trading on Thursday, communication services shares fell 0.7%.

Top Headline

Mastercard Incorporated MA reported better-than-expected results for its second quarter.

Mastercard reported quarterly adjusted earnings of $1.95 per share, beating analysts’ estimates of $1.72 per share. The company’s revenue came in at $4.50 billion, versus expectations of $4.34 billion.

Equities Trading UP

LendingClub Corporation LC shares shot up 54% to $24.99 after the company reported better-than-expected Q2 results and raised guidance.

Shares of NanoVibronix, Inc. NAOV got a boost, shooting 27% to $2.42 after the company announced it received registration approval for UroShield from TGA Australia.

Tempur Sealy International, Inc. TPX shares were also up, gaining 17% to $43.94 after the company posted upbeat Q2 results and issued strong FY21 earnings forecast.

Check out these big movers of the day

Equities Trading DOWN

Annovis Bio, Inc. ANVS shares tumbled 60% to $44.01 after the company presented new clinical and biomarker data at the 2021 Alzheimer's Association International Conference.

Shares of Atreca, Inc. BCEL were down 38% to $5.08 after the company announced initial data from the dose escalation portion of its ongoing Phase 1b trial evaluating ATRC-101 in select solid tumor types, showing the investigational asset was well-tolerated. Preliminary biomarker data supported the proposed mechanism of action found in preclinical studies.

Brightcove Inc. BCOV was down, falling 15% to $11.16 after the company issued weak Q3 2021 and FY21 revenue guidance.

Commodities

In commodity news, oil traded up 1.3% to $73.31, while gold traded up 1.7% to $1,830.80.

Silver traded up 3.4% Thursday to $25.725 while copper rose 1.1% to $4.5295.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 rose 0.46%, the Spanish Ibex Index rose 0.6% and the German DAX 30 gained 0.45%. Meanwhile, the London’s FTSE 100 rose 0.88%, French CAC 40 climbed 0.37% and Italy’s FTSE MIB climbed 1.01%.

The consumer confidence indicator in the Eurozone was confirmed at -4.4 in July, while services confidence indicator climbed to 19.3 in July. The industry confidence indicator in the Eurozone increased to 14.6 in July.

Producer prices in Italy surged 9.1% year-over-year in June. Consumer credit in the UK rose by GBP 0.31 billion in June, while UK factories produced 69,097 cars during June. Spain's unemployment rate fell to 15.26% in the second quarter from 15.98% in the prior three-month period, while annual inflation rate increased to 2.9% in July. French industrial producer increased 1.1% in June, while German unemployment rate stood at 3.7% in June.

Economics

The US economy grew an annualized 6.5% on quarter during the second quarter, down from market estimates of 8.5%.

US initial jobless claims fell to 400,000 in the week ending July 24th.

The pending home sales index dropped 1.9% year-over-year for June.

US natural-gas supplies climbed 36 billion cubic feet last week, the Energy Information Administration said.

Check out the full economic calendar here