U.S. markets kept the momentum going Thursday afternoon, with investors digesting better-than-expected labor data and strong manufacturing reports. The Nasdaq Composite led the charge, climbing 1.03% to 23,714.62, while the Dow Jones Industrial Average gained 0.80% to 49,543.16. The S&P 500 added 0.74% to reach 6,977.92.
Oil Plunges as Jobless Claims Beat Expectations, Stocks Rally

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Labor Market Still Tight
The labor market continues to show resilience. U.S. initial jobless claims dropped by 9,000 from the prior week to 198,000 for the week ending January 10. That number came in well below market expectations of 215,000, suggesting employers are still holding onto workers even as economic uncertainty lingers.
Sector Spotlight
Information technology shares were the day's clear winner, jumping 1.5% as investors piled back into growth names. On the flip side, healthcare stocks stumbled, falling 1.5% in what appears to be a rotation out of defensive plays.
Big Movers in Individual Stocks
Some smaller names saw absolutely wild swings today. Callan JMB Inc. (CJMB) rocketed 208% to $3.45 after announcing a strategic teaming agreement with Biostax Corp d/b/a Attune Biotech to provide comprehensive federal oversight services.
Springview Holdings Ltd (SPHL) went even more vertical, surging 290% to $8.96 on news of a strategic partnership with Jiangsu GSO New Energy Technology Co., Ltd. to bring solar and green-energy solutions to residential housing in Singapore.
authID Inc. (AUID) doubled up, gaining 99% to $1.98 following the announcement of an integration with ServiceNow.
Not everyone had a good day, though. MetaVia Inc. (MTVA) plunged 40% to $3.26 after pricing an $8.1 million underwritten public offering. Caledonia Mining Corporation PLC (CMCL) dropped 19% to $26.39 after announcing the pricing of an upsized $125 million offering of 5.875% convertible senior notes due 2033.
TryHard Holdings Limited (THH) fell 41% to $19.00 after entering into a Memorandum of Cooperation with STAR PARTY HK LIMITED to explore establishing a joint venture in Japan, a move that apparently didn't sit well with investors.
Commodities Take a Hit
The commodity complex had a rough session. Oil led the decline, tumbling 4.7% to $59.08, while gold slipped 0.4% to $4,618.80. Silver fell 1.1% to $90.405, and copper dropped 1.5% to $5.9660.
Global Markets Mixed
European shares showed no clear direction Thursday. The eurozone's STOXX 600 edged up 0.39%, while Spain's IBEX 35 Index dipped 0.21%. London's FTSE 100 gained 0.56% and Germany's DAX barely moved, rising just 0.01%. France's CAC 40 slipped 0.23%.
Asian markets closed in the red across the board. Japan's Nikkei fell 0.42%, Hong Kong's Hang Seng Index declined 0.28%, and China's Shanghai Composite dropped 0.33%.
Economic Data Roundup
Beyond the jobless claims beat, the economic calendar delivered some pleasant surprises. U.S. import prices increased 0.1% year-over-year in November, while export prices rose 3.3% year-over-year.
Manufacturing data came in hot. The NY Empire State Manufacturing Index surged to 7.7 in January from a revised reading of negative 3.7 in December, crushing market estimates of 1. The Philadelphia Fed Manufacturing Index jumped 21.4 points to a reading of 12.6 in January, another strong signal that manufacturing activity is bouncing back.
All told, it was a day where the data painted a picture of economic resilience, even if commodities and international markets weren't quite as enthusiastic about it.
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