Markets Rise; Caterpillar Profit Beats Expectations

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After opening Thursday, the Dow rose 0.53% to 35,678.96 while the NASDAQ rose 0.95% to 15,380.23. The S&P also rose, gaining 0.76% to 4,586.39.

The US has the highest number of coronavirus cases and deaths in the world, reporting a total of 46,597,000 cases with around 761,850 deaths. India confirmed a total of at least 34,231,800 cases and 456,410 deaths, while Brazil reported over 21,766,160 COVID-19 cases with 606,720 deaths. In total, there have been at least 245,904,790 cases of COVID-19 worldwide with more than 4,990,070 deaths, according to Johns Hopkins University.

Leading and trailing sectors

Healthcare stocks were up 1.1% on Thursday. Now top winners in the sector included HCW Biologics Inc. (NASDAQ: HCWB), up 92% and InflaRx NV (NASDAQ: IFRX) up 37%.

In trading on Thursday, the communications services share rose by just 0.01%.

Top headline

Caterpillar Inc. (NYSE: CAT) reported better-than-expected earnings for the third quarter.

Caterpillar reported quarterly adjusted earnings of $ 2.66 per share, beating analysts’ estimate of $ 2.20 per share. The company’s revenue was $ 12.40 billion, up from expectations of $ 12.48 billion.

Stock trading UP

HCW Biologics Inc. (NASDAQ: HCWB) shares shot up 98% to $ 5.80 after the company announced it had been approved by the US Food and Drug Administration for its lead drug candidate HCW9218 in an initial Phase 1b clinical trial in humans to evaluate in patients with advanced pancreatic cancer.

Shares in Digital Brands Group, Inc. (NASDAQ: DBGI) received a boost, rising 49% to $ 4.5050 after the company announced its launch on Amazon Prime and also launched an affiliate program.

Inspira Technologies Oxy BHN Ltd. (NASDAQ: IINN) Shares also rose, rising 54% to $ 6.22 after falling over 58% on Wednesday.

Check out these great movers and shakers of the day

Stock trading DOWN

Rafael Holdings, Inc. Shares (NYSE: RFL) fell 80% to $ 6.11 after the company announced the Phase 3 clinical trial in metastatic pancreatic cancer had failed to meet its primary endpoint of improved overall survival.

The story goes on

Shares in Siyata Mobile Inc. (NASDAQ: SYTA) fell 23% to $ 4,0800 after rising over 83% on Wednesday.

IronNet, Inc .. (NYSE: IRNT) fell and fell 21% to $ 12.85. The company recently announced that it has joined the Microsoft Intelligent Security Association.

raw materials

On the commodities news, oil traded 1.6% to $ 81.37 while gold was up 0.1% to $ 1,799.00.

Silver fell 0.3% to $ 24.13 on Thursday while copper rose 1.1% to $ 4.4380.


European stocks were mixed today. The STOXX 600 in the Eurozone rose by 0.1%, the Spanish Ibex index by 0.1% and the German DAX 30 by 0.1%. The London FTSE 100 fell 0.2%, the French CAC 40 rose 0.3% and the Italian FTSE MIB gained 0.2%.

Manufacturers’ confidence in Italy rose from a revised 113.2 in September to 114.9 in October, while consumer confidence fell from 119.6 to 118.4. UK auto production fell 41.5% year over year to 67,149 in September. Spain’s annual inflation rate rose from 4.0% a month ago to 5.5% in October, while the unemployment rate fell from 15.26% to 14.57% in the third quarter. The unemployment rate in Germany was unchanged at 3.4% in September.


The US economy expanded at an annualized rate of 2% quarter over quarter in the third quarter.

US initial jobless claims fell to a new 19-month low of 281,000 in the week ending October 23.

The floating property sales index fell 2.3% in September.

The Energy Information Administration’s weekly report on natural gas reserves in underground storage will be released at 10:30 am ET.

The Kansas City Fed’s October manufacturing index is expected to be released at 11:00 a.m. ET.

The Treasury Department will auction 4 and 8 week tickets at 11:30 a.m. ET.

The Treasury will auction 7-year notes at 1:00 p.m. ET.

View the full economic calendar here

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