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The Rage of Gold and the Fall of US Crude Stocks

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Would you look at that! The Dow Jones index roared to life with a gain of over 100 points on Thursday before the closing bell.


How about those numbers? The Dow hit 37,758.26, the NASDAQ danced up to 15,124.90, and the S&P 500 strutted to 4,792.56. They were all up on their feet, moving and shaking to the music of success.


For a scoop of excitement and anticipation, Microsoft To Rally Over 20%? Here Are 10 Top Analyst Forecasts For Thursday was the phrase on everyone’s lips.


A Roller Coaster of Sectors


Just like a carnival, the Utilities shares jumped by 0.6 on Thursday, while energy shares took a stomach-churning 0.9% dive.


The Big Headline


So, here’s the big news: the EIA announced that crude oil inventories in the U.S. took a colossal 6.911 million barrel plunge in the week ending Dec. 22. That’s the biggest nosedive in four months, and it left all market estimates of a 2.704 million-barrel decline in the dust.


Stocks on the Rise


Hold onto your hats, folks! Microbot Medical Inc. MBOT shares skyrocketed by 43% to $1.89. The company was over the moon announcing the completion of its GLP pivotal pre-clinical study.


Cingulate Inc. CING got a booster, surging 129% to $9.14. The company received FDA guidance for CTx-1301, its lead investigational product candidate for attention deficit hyperactivity disorder (ADHD).


DouYu International Holdings Limited DOYU shares joined the circus, gaining 24% to $0.9005 after announcing a share repurchase program.


Stocks on the Slide


Hold your breath! Cytosorbents Corporation CTSO shares plummeted 40% to $0.9852. CytoSorbents released an update on the initial data analysis of primary safety and effectiveness endpoints, sending shock waves through the market.


Bluejay Diagnostics, Inc. BJDX spiraled down 31% to $1.25. Bluejay Diagnostics made headlines with the pricing of a $3.5 million public offering of 2,692,308 shares at $1.30 per share.


Velo3D, Inc. VLD took a roller coaster ride, plunging 32% to $0.4299 after the company announced a registered direct offering.


The World of Commodities


It was a wild ride in commodity news. Oil traded down 1.9% at $72.69, and gold took a dramatic 0.7% tumble to $2,079.30.


Silver wasn’t far behind, trades down 1% to $24.39. Copper followed suit, falling 1% to $3.9215. It was a day of highs and lows in the world of commodities.


Across the Atlantic in the Euro Zone


Overseas, the European shares were sailing on a different wind. The eurozone’s STOXX 600 fell 0.11%, London’s FTSE 100 fell 0.03%, Spain’s IBEX 35 Index fell 0.35%, Germany’s DAX fell 0.24%, France’s CAC 40 fell 0.48%, and Italy’s FTSE MIB Index fell 0.30%. It was a roller coaster in markets across the pond too.


In Spain, retail trade rose 5.2% year-over-year in November, a slight nudge from the previous month’s 5.3% increase.


Markets on the Other Side of the World in Asia Pacific


Across the other side of the world, it was a mixed bag. Asian markets closed mostly higher on Thursday, with Japan’s Nikkei 225 falling 0.42%, Hong Kong’s Hang Seng Index rising 2.52%, and China’s Shanghai Composite Index gaining 1.38%. India’s S&P BSE Sensex even had its own little victory, rising 0.52%.


In the midst of all this, Hong Kong’s trade deficit widened to $27.9 billion. Meanwhile, industrial production in Japan took a 0.9% nosedive month-over-month in November, and retail sales in Japan climbed 5.3% year-over-year in the same month. It was a wild day on those markets too.


The Economics Roller Coaster


Hold onto your hat! U.S. initial jobless claims took an unexpected rise of 12,000 to 218,000 in the week ending Dec. 23, leaving market estimates of 210,000 in their wake.


The U.S. trade deficit in goods even widened to $90.3 billion in November. Wholesale inventories declined by 0.2% month-over-month in November, but pending home sales remained unchanged in the same month. And, out of nowhere, U.S. natural-gas supplies plummeted 87 billion cubic feet, leaving analysts in shock.


After all this, the big news: Crude oil inventories in the U.S. took a colossal 6.911 million barrel plunge in the week ending Dec. 22, leaving all market estimates of a 2.704 million-barrel decline in the dust.


Not to be missed: Hershey, Levi Strauss And 2 Other Stocks Insiders Are Selling was the hot talk of the financial world.


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