US stocks were higher towards the end of the session, with the Dow Jones jumping around 950 points on Thursday.
The Dow was up 3.27% to 30,164.64, while the NASDAQ was up 2.61% to 10,688.73. The S&P 500 was also up 3% to 3,684.45.
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Leading and lagging sectors
Energy stocks rose 4.4% on Thursday. lead the sector was power out NineEnergy Service, Inc. NINE and Core Laboratories NV CLB.
In Thursday trading, consumer discretionary stocks were up just 1.2%.
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US annual inflation fell for the third straight month to 8.2% in September, the lowest in seven months, from 8.3% the previous month. However, analysts were expecting a reading of 8.1%.
Stock trading UP
- Laser Photonics Corporation LASER Shares rose 41% to $4.13 after the company announced that The Coca-Cola Company recently completed the implementation of its first CleanTech handheld laser beam system in its manufacturing facilities.
- shares of Digital World Acquisition Corp. DWAC got a boost, surging 13% to $18.00 after reports on Wednesday suggested Google had approved the Truth Social app on the Google Play Store. Digital World is the SPAC merger partner of Trump Media & Technology, owners of Truth Social.
- Albertson’s Companies, Inc. ACI Shares were also higher, gaining 12% to $28.80. Kroger is said to be in talks to merge with rival Albertsons, Bloomberg said.
Stocks are trading down
- Relmada Therapeutics, Inc. RLMD Shares fell 79% to $6.66 after the company announced that its RELIANCE III trial failed to meet its primary endpoint.
- shares of Pintec Technology Holdings Limited pt was down 19% at $0.7375 after rising 216% on Wednesday.
- Otonomy, Inc. OTIC declined, falling 53% to $0.1225 after the company reported that higher dose cohorts of OTO-413 failed to show clinically meaningful improvement for patients from baseline.
