Here’s what’s happening in the markets today. - The New York Times

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• The S&P 500 rose 0.4 percent in midday trading after falling slightly on Wednesday. The Nasdaq composite was up 0.6 percent.

• The Labor Department reported that initial claims for state unemployment benefits declined slightly last week to 385,000, a decrease of 14,000 from the previous week.

• The Stoxx Europe 600 closed with a 0.4 percent gain. The Bank of England projected on Thursday that inflation in Britain will rise to 4 percent in the last quarter of the year, a level that is double the central bank’s target.

• Oil prices rose on Thursday, with West Texas Intermediate, the U.S. crude benchmark, up 1.5 percent to about $69.15 a barrel.

• Robinhood fell more than 14 percent on Thursday after the company said that early investors could sell up to 97.9 million shares over time. On Wednesday, shares for the stock trading app rose 50 percent in their second day of sharp gains.

• Uber rose 4.2 percent in midday trading Thursday, a day after it published its company results. It earned a profit of $1.1 billion in the last quarter, but after adjusting for a one-time gain, its losses were $509 million.

• Moderna fell 1 percent after reporting on Thursday that the protection offered by its Covid vaccine does not wane in the first six months after the second dose. The World Health Organization called on Wednesday for a moratorium on coronavirus vaccine booster shots until the end of September so that vaccine supplies can be focused on helping all countries vaccinate at least 10 percent of their populations.

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August 05, 2021 at 09:02PM
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Here’s what’s happening in the markets today. - The New York Times
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