Crude Oil Falls Over 4%; Keros Therapeutics Shares Jump – CarMax (NYSE:KMX), Keros Therapeutics (NASDAQ:KROS)

U.S. stocks traded lower midway through trading, with the Dow Jones index dipping more than 4% on Thursday.

The Dow traded down 4.18% to 38,910.71 while the NASDAQ dipped 5.64% to 16,159.08. The S&P 500 also fell, dropping, 4.90% to 5,189.26.

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Leading and Lagging Sectors

Consumer staples shares surged by 0.9% on Thursday.

In trading on Thursday, energy shares fell by 5%.

Top Headline

U.S. initial jobless claims increased by 4,000 from the previous week to 223,000 during the first week of April.

Equities Trading UP
                       

Keros Therapeutics, Inc. KROS shares shot up 16% to $11.95. The company announced that its board has initiated a formal review process to evaluate strategic alternatives to maximize shareholder value.

Shares of Pasithea Therapeutics Corp. KTTAgot a boost, surging 46% to $1.5801 after a Safety Review Committee recommended escalating to the next dose level of 30mg capsule in its ongoing Phase 1 trial of PAS-004 for advanced cancer.

ReShape Lifesciences Inc. RSLS shares were also up, gaining 60% to $0.5478. ReShape Lifesciences on Wednesday signed an agreement with Haifa, Israel-based Motion Informatics to exclusively import and distribute their neuromuscular rehabilitation devices in the U.S.

Equities Trading DOWN

Marin Software Incorporated MRIN shares dropped 50% to $0.65 after the company announced plans for dissolution, which its board of directors has approved.

Shares of Venus Concept Inc. VERO were down 51% to $4.37 after the company announced a $1.1 million registered direct offering of common stock priced at-the-market under Nasdaq rules.

CarMax, Inc. KMX was down, falling 17% to $66.75 after the company reported fourth-quarter financial results and missed its EPS estimate.

Commodities

In commodity news, oil traded down 4.5% to $59.55 while gold traded up 2% at $3,140.80.

Silver traded up 0.5% to $30.580 on Thursday, while copper rose 3.3% to $4.3315.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 climbed 4.71%, Germany’s DAX 40 climbed 5.29% and France’s CAC 40 jumped 5%. Spain’s IBEX 35 Index jumped 5.18%, while London’s FTSE 100 rose 4%.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan’s Nikkei 225 jumping 9.13%, China’s Shanghai Composite gaining 1.16% and Hong Kong’s Gang Seng index rising 2.06%.

Economics

The annual inflation rate in the US fell for a second straight month to 2.4% in March, recording the lowest level since September, compared to 2.8% in the previous month and versus market estimates of 2.6%.

U.S. initial jobless claims increased by 4,000 from the previous week to 223,000 during the first week of April.

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