Huadi Intl Gain Continues; Rises 7%
Huadi International Group Co., Ltd. (HUDI) shares are rising on Thursday morning trade, continuing a way up since yesterday, in search of a new resistance level. There were no specific corporate announcements from the company that could influence the stock gain.
Currently, shares are at $5.31, up 7.93 percent from the previous close of $4.92 on a volume of 10,577,787. The shares have traded in a range of $3.91-$9.92 on average volume of 32,606.
European Economics Preview: UK Unemployment Data Due
Unemployment data from the UK is due on Thursday, headlining a light day for the European economic news.
At 2.00 am ET, the Office for National Statistics releases UK unemployment data. The jobless rate is seen unchanged at 4.7 percent in three months to May.
At 4.00 am ET, Italy’s Istat publishes final consumer price data for June. Consumer price inflation is seen unchanged at 1.3 percent and in line with preliminary estimate.
In the meantime, Poland’s final consumer price data is due for June. According to flash estimate, consumer prices grew 4.4 percent annually after rising 4.7 percent in May.
Half an hour later, the Bank of England publishes Credit Conditions survey results.
Philly Fed Index Indicates Notably Slower Growth In July
A report released by the Federal Reserve Bank of Philadelphia on Thursday showed a slowdown in the pace of growth in Philadelphia-area manufacturing activity in the month of July.
The Philly Fed said its diffusion index for current general activity fell to 21.9 in July from 30.7 in June, although a positive reading still indicates growth in regional manufacturing activity. Economists had expected the index to slip to 28.0.
The much bigger than expected decrease by the headline index came as the new orders index slid to 17.0 in July from 22.2 in June, while the shipments index fell to 24.6 from 27.2.
The number of employees index also edged down to 29.2 in July from 30.7 in June, indicating a slight slowdown in the pace of price growth.
The report also showed the prices paid index tumbled to 69.7 in July from 80.7 in June, while the prices received index slipped to 46.8 from 49.7.
Looking ahead, the Philly Fed said the diffusion index for future general activity tumbled to 48.6 in July from a nearly 30-year high of 69.2 in June.
The Federal Reserve Bank of New York released a separate report on Thursday showing a substantial acceleration in the pace of growth in New York manufacturing activity in the month of July.
CVS Health halts sales of two sunburn products
(Reuters) – CVS Health Corp said on Thursday it had halted the sales of two of its sunburn products, citing an abundance of caution, without providing further details.
The move comes a day after Johnson & Johnson recalled five aerosol sunscreen products in the United States after detecting a cancer-causing chemical in some samples.
Quantum Computing Soars 23% On Nasdaq Debut
Shares of quantum computing solutions provider Quantum Computing Inc. (QUBT) are soaring 23 percent on Thursday’s trading after the company debuted on the Nasdaq Capital Market under the symbol QUBT.
The stock is currently trading at $7.06, up $1.36 or 23% on the Nasdaq. QUBT has traded between $2.02 and $25.07 during the past 52 weeks.
European Economics Preview: UK Monthly GDP, Trade Data Due
Monthly GDP estimate and foreign trade reports are due from the UK on Friday, headlining a light day for the European economic news.
At 2.00 am ET, the Office for National Statistics is scheduled to issue UK monthly GDP, industrial and construction output and foreign trade figures. The economy is forecast to grow 1.5 percent on month in May, following April’s 2.3 percent rise.
The UK visible trade deficit is seen widening to GBP 11.1 billion in May from GBP 10.96 billion in April.
In the meantime, consumer prices and foreign trade figures are due from Norway.
At 3.00 am ET, foreign trade figures from Hungary and industrial production from Austria are due.
At 4.00 am ET, Italy’s Istat publishes industrial production data for May. Economists expect industrial output to grow 0.3 percent on month, slower than the 1.8 percent increase in April.
At 5.00 am ET, industrial output and consumer price data is due from Greece.
Treasury Department Announces Twenty-Year Bond Auction Details
After reporting the results of this month’s auctions of three-year and ten-year notes and thirty-year bonds earlier this week, the Treasury Department on Thursday announced the details of this month’s auction of twenty-year bonds.
The Treasury revealed plans to sell $24 billion worth of twenty-year bonds, with the results of the auction set to be announced next Wednesday.
Last month, the Treasury also sold $24 billion worth of twenty-year bonds, drawing a high yield of 2.120 percent and a bid-to-cover ratio of 2.40. The ten previous twenty-year bond auctions had an average bid-to-cover ratio of 2.33.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Earlier this week, the Treasury revealed this month’s auctions of $58 billion worth of three-year notes and $38 billion worth of ten-year notes both attracted average demand, while the auction of $24 billion worth of thirty-year bonds attracted below average demand.
Bridgeline Digital Up 3% On Deal For Hawksearch Platform
Shares of Bridgeline Digital, Inc. (BLIN) are up 3 percent on Thursday’s trading after the cloud-based technology software provider announced that a global management company in the industrial sector has selected Hawksearch to improve its digital experience.
Hawksearch is a site search and recommendation platform with an intelligent dashboard and broad suite of eCommerce apps, which was acquired by Bridgeline Digital in May this year. Hawksearch will offer visitors of the management company the ability to filter stock status in each of the brick-and-mortar stores, the ability to filter data on all items and auto-complete customization to smoothen their online experience.
Currently trading at $6.38, the stock has traded between $1.62 and $14.38 during the past 52 weeks.