US stock indices are poised for a marginally positive start in Thursday's trading session, as newly released initial jobless claims align with analyst expectations. Investors are keenly awaiting further economic indicators that will emerge later in the day. The Dow Jones Industrial Average futures demonstrate a slight uptick of 0.1%, with S&P 500 futures inching up by 0.3%, and Nasdaq futures showing a more robust increase of 0.4%.
According to Bloomberg, initial jobless claims have risen to 232,000 for the week ending August 17, up from 228,000 the previous week, matching analyst forecasts precisely. Investors are looking forward to the forthcoming releases of key economic data including the Manufacturing and Services Purchasing Managers' Indices (PMIs) along with existing home sales figures, due to be announced later this morning.
Specifically, Manufacturing PMI is projected to dip slightly to 49.5 in August from 49.6 in July, while the Services PMI is also expected to see a decrease to 54 from the previous month's 55, as reported by Bloomberg. In the commodities sector, oil prices are experiencing upward momentum, with both Brent crude and West Texas Intermediate crude futures appreciating by 0.6% and 0.5%, respectively.
Looking internationally, Japan's Nikkei Index has risen by 0.7%. A notable surge is observed in Hong Kong's Hang Seng, which has gained 1.4%, while China's Shanghai Composite Index has retreated slightly, down 0.3%. In the European markets, the UK's FTSE 100 remains flat in early afternoon trading, while Germany's DAX and France's CAC indices have each recorded a modest gain of 0.2%. On the winning side, Staffing 360 Solutions ($STAF.US) has seen its shares skyrocket by an astonishing 155% in premarket trading on Thursday, following a significant 15% decline the previous day.
Additionally, GD Culture Group ($GDC) shares surged 63%, building on an impressive 128% gain Wednesday after the company announced the launch of a TikTok account aimed at disseminating information related to artificial intelligence. Mobix Labs ($MOBX) also experienced a remarkable increase of 56%, following the report of a narrower fiscal Q3 net loss per share, along with a year-over-year rise in net revenue. Air Industries Group ($AIRI) saw its stock advance by 56% after announcing a substantial $110 million, seven-year contract for the production of thrust struts employed in geared turbo-fan aircraft engines.
Meanwhile, Guardion Health Sciences (GHSI) shares climbed 21% in response to the declaration of a $5 per share cash dividend overnight. Conversely, on the downside, Revelation Biosciences (REVB) stock plummeted 33% after registering a remarkable 101% gain on Wednesday. The company disclosed late Wednesday that it finalized an agreement to swiftly execute certain outstanding warrants for the purchase of roughly 2.5 million shares of common stock at a discounted exercise price of $1.50 per share.
Cyclo Therapeutics ($CYTH) shares experienced a 28% drop after announcing a merger with Rafael Holdings ($RFL). The shares of Virax Biolabs Group ($VRAX) saw a decline of 5% following the announcement of a deal to sell and issue approximately 1.1 million common shares at $4.50 per share via a registered direct offering.
Moreover, Advance Auto Parts ($AAP) saw its shares plummet over 22% after posting lower-than-expected fiscal Q2 results and revising downward its fiscal 2024 outlook. Urban Outfitters ($URBN) experienced a 14% drop after Telsey Advisory downgraded its rating from outperform to market perform. The trading session is set to evolve as investors digest these developments and await further economic reporting later in the day..