Gold Down 0.5%; AMC Entertainment Shares Spike Higher

Gold Down 0.5%; AMC Entertainment Shares Spike Higher

U.S. stocks were trading late, with the Nasdaq Composite up about 100 points on Thursday.

The Dow rose 0.04% to 33,495.25 and the NASDAQ added 0.83% to 12,096.14. The S&P 500 also rose 0.37% to 4,105.67.

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Leading and lagging sectors

  • On Thursday, shares of communication services rose by 2%. The growth leaders in this sector are Skillz Inc. (NYSE: SKLZ ), up 26%, and AMC Entertainment Holdings, Inc. (NYSE: AMC ), up 23%.
  • At the auction on Thursday, energy prices fell by 0.9%.

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U.S. natural gas inventories fell by 23 billion cubic feet last week, according to the EIA.

Shares are trading higher

  • Shares of Skillz Inc (NYSE: SKLZ ) rose 26% to $0.6899. Skillz CEO Andrew Paradise purchased a total of 1,500,000 shares at an average price of $0.56.
  • Shares of TH International Limited (NASDAQ:THCH) rose 22% to $4.57. TH International reported fourth quarter earnings per share of $0.11 on sales of $43.71 million.
  • Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) also rose 23% to $4.9850 after a Delaware court denied the company's request to proceed with its plans to increase the number of permitted exchanges of common stock and reverse the split.

stock market down

  • Shares of Levi Strauss & Co. (NYSE:LEVI) fell 16% to $15.16 after the company reported its first-quarter results and FY23 guidance.
  • Shares of Richardson Electronics, Ltd (NASDAQ: RELL ) fell 15% to $18.28 in the third quarter.
  • Shares of AMC Entertainment Holdings, Inc. (NYSE:APE) fell 12% to $1.50 after a Delaware court rejected AMC's request for a plan to increase the number of authorized common shares, stock exchange and reverse classification.
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In commodities, oil fell 0.1% to $80.55, while gold fell 0.5% to $2,026.30.

Silver rose 0.3% to $25.11 on Thursday, while copper gained 0.9% to $4.0235.

euro zone

European stocks closed higher today. The euro zone's STOXX 600 rose 0.50%, London's FTSE 100 rose 1.03% and Spain's IBEX 35 rose 0.62%. Germany's DAX was up 0.45%, France's CAC 40 was up 0.12% and Italy's FTSE MIB was up 1.29%.

The euro zone construction PMI fell to 45.0 in March from 47.6 the previous month, while the French construction PMI rose to 45.3 in March from 45.2 the previous month. The S&P Global/CIPS UK construction PMI fell to 50.7 in March from 54.6 the previous month, while the Italian PMI fell to 47.4 in March from 48.9 the previous month. Germany's S&P Global Construction PMI fell to 42.9 in March from 48.6 in February.

Halifax's house price index rose 1.6% y/y in March, while industrial production in Germany rose 2% y/y in February.

Asia-Pacific market

Asian markets ended mixed on Thursday, with Japan's Nikkei 225 down 1.22%, Hong Kong's Hang Seng up 0.28% and China's Shanghai Composite up 0.01%. India's S&P BSE Sensex rose 0.12%.

In its April meeting, the Reserve Bank of India unexpectedly cut the repo base rate to 6.5%. China's Caixin Services PMI rose to 57.8 in March from 55.0 the previous month, while Hong Kong's S&P Global PMI fell to 53.5 in March. Australia's trade surplus widened to A$13.87 billion in February from a revised A$11.27 billion in the previous month.

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  • US jobless claims fell by 18,000 to 228,000 in the week ended April 1.
  • U.S. natural gas inventories fell by 23 billion cubic feet last week, according to the EIA.

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Updates on COVID-19

The United States has the highest number of coronavirus cases and deaths in the world, with a total of 106,305,770 cases and about 1,156,300 deaths. India has confirmed a total of at least 44,739,050 cases and 530,920 deaths, while France has reported more than 39,817,650 cases of COVID-19 with 165,790 deaths. In total, at least 684,466,450 cases of COVID-19 have been reported worldwide and more than 6,834,980 people have died.

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