Ladenburg Thalmann Asset Management CEO Phil Blancato discusses how global and political news can impact the economy and markets.
The tech-heavy Nasdaq Composite was set for a hot start to the second quarter even as weekly jobless claims rose.
Nasdaq futures were higher by 1.1% while S&P 500 futures were up 0.38% and Dow Jones Industrial Average futures were little changed.
Data released Thursday showed 719,000 Americans filed first-time jobless claims in the week ended March 27. Analysts surveyed by Refinitiv were expecting 680,000 filings. The prior week’s reading was revised down to 658,000 from 684,000 the lowest level since the pandemic began.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP. | 235.77 | +3.92 | +1.69% |
In stocks, Microsoft Corp. won a $21.9 billion contract to supply the U.S. Army with augmented reality headsets for the next 10 years.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY, INC. | 88.21 | +1.67 | +1.93% |
| WDC | WESTERN DIGITAL CORP. | 66.75 | +1.29 | +1.97% |
In deals, Micron Technology Inc. and Western Digital Corp. are each exploring deals for Japanese semiconductor manufacturer Kioxia Holdings Corp. that would value the company at about $30 billion, according to The Wall Street Journal. Kioxia is also looking into a possible initial public offering, the report said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMD | ADVANCED MICRO DEVICES, INC. | 78.50 | +2.50 | +3.29% |
| INTC | INTEL CORP. | 64.00 | +0.23 | +0.36% |
The news lifted shares of other semiconductors, including Advanced Micro Devices Inc. and Intel Corp.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 12.29 | -0.18 | -1.44% |
Elsewhere, Ford Motor Co. said it will cut production at seven North American plants due to the global chip shortage. The company will provide updated guidance on April 28.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 164.62 | -0.50 | -0.30% |
| EBS | EMERGENT BIOSOLUTIONS | 92.91 | +2.61 | +2.89% |
Meanwhile, Johnson & Johnson shares slipped after a batch of its COVID-19 vaccine was discovered to have a problem in the manufacturing process overseen by Emergent BioSolutions Inc. The company did not reveal how many doses were ruined but estimates peg the number close to 15 million.
15 MILLION J&J COVID VACCINES THROWN AWAY AFTER INGREDIENT MIX-UP
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PFE | PFIZER INC. | 36.23 | +0.12 | +0.33% |
Pfizer Inc. announced its COVID-19 vaccine was found to be 91% effective against the South African variant. The drug manufacturer said it plans to seek full regulatory approval from U.S. regulators.
In commodities, West Texas Intermediate crude oil climbed $1.04 to $60.20 per barrel and gold ticked down $1.20 to $1,714.40 an ounce.
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Overseas markets were broadly higher.
Britain’s FTSE 100 was out front in Europe, trading up 0.52%, while Germany’s DAX 30 and France’s CAC 40 advanced 0.29% and 0.21%, respectively.
In Asia, Hong Kong’s Hang Seng index surged 1.97%, Japan’s Nikkei 225 rallied 0.72% and China’s Shanghai Composite rose 0.71%.
