Coinbase Global Up 8%

Shares of software company Coinbase Global, Inc. (COIN) are rising 8 percent on Thursday’s trading, trending up for the past few days.

The stock is in tandem with the U.S markets, which are in the green since early Thursday morning.

Currently at $34.95, the stock has traded between $31.83 and $261.63 during the past 52 weeks.

Samsung Recalls Washing Machines Due To Fire Hazard

South Korean electronics giant Samsung has recalled about 663,500 top-load washing machines in the U.S. due to risk of fire.

According to the U.S. Consumer Product Safety Commission, the washing machines can short-circuit and overheat, posing a fire hazard.

The recall involves several models of Samsung’s top-load washers with super speed wash. The washers were sold in white, black, champagne, and ivory colors and include model series WA49B, WA50B, WA51A, WA52A, WA54A, and WA55A.

Samsung said it has received 51 reports of smoking, melting, overheating or fire involving the washers, with 10 of which resulted in property damage. Three consumers have reported injuries due to smoke inhalation.

The washing machines were sold at Best Buy, Costco, The Home Depot, Lowe’s and other appliance stores nationwide and online at Samsung.com from June 2021 through December 2022 for between $900 and $1,500.

The company has asked consumers to immediately check whether their washer’s software has been updated to prevent the hazard; and, if not, consumers should immediately stop using the washer until the software is updated.

Gold Futures Settle Higher As Dollar Dips After Jobless Data

Gold prices climbed higher on Thursday as the dollar shed ground against most of its major rivals after data showing an increase in U.S. jobless claims helped ease concerns about any aggressive tightening by the Federal Reserve early next year.

The dollar index dropped to 103.78 before recovering slightly to 103.88, but was still down in negative territory, losing nearly 0.6% from the previous close.

Gold futures for February ended higher by $10.20 at $1,826.00 an ounce.

Silver futures for March ended up $0.410 at $24.250 an ounce, while Copper futures for March settled at $3.8240 per pound, down $0.0185 from the previous close.

In U.S. economic news, data released by the Labor Department showed first-time claims for U.S. unemployment benefits rose by slightly more than expected in the week ended December 24th, moving up to 225,000, an increase of 9,000 from the previous week’s unrevised level of 216,000. Economists had expected jobless claims to inch up to 222,000.

Meanwhile, the Labor Department said the less volatile four-week moving average edged down to 221,000, a decrease of 250 from the previous week’s revised average of 221,250.

Seven-Year Note Auction Attracts Modestly Below Average Demand

The Treasury Department finished off this week’s series of announcements of the results of its long-term securities auctions on Thursday, revealing this month’s sale of $35 billion worth of seven-year notes attracted modestly below average demand.

The seven-year note auction drew a high yield of 3.921 percent and a bid-to-cover ratio of 2.45.

Last month, the Treasury also sold $35 billion worth of seven-year notes, drawing a high yield of 3.890 percent and a 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.

The ten previous seven-year note auctions had an average bid-to-cover ratio of 2.50.

Earlier this week, the Treasury revealed this month’s auctions of $42 billion worth of two-year notes and $43 billion worth of five-year notes both attracted above average demand.

ReShape Lifesciences Soars 37%

Shares of medical devices manufacturer ReShape Lifesciences Inc. (RSLS) are climbing 37 percent on Thursday’s trading. The stock has been on an upward spiral since the past few days.

While there has not been any company-specific news to impact the stock, its movement is in tandem with the US markets, which are in the green early Thursday morning.

Currently at $8.22, the stock has traded between $5.40 and $93.00 during the past 52 weeks.

Surf 9 Recalls 13K Paddle Boards Due To Drowning Hazard

Surf 9 has recalled nearly 13,300 paddle boards due to risk of drowning. The recalled boards were sold exclusively at Costco.

According to the Consumer Product Safety Commission, Body Glove Tandem Inflatable Stand Up Paddle Board, ULI Inventor Inflatable Paddle Board, ULI Zettian Inflatable Supyak and ULI Lila Inflatable Supyak have been recalled. In addition, about 7,000 of the Body Glove Boards were sold in Canada.

The paddle boards were recalled because the glue on the inflatable paddle boards can separate at the seams and the paddle boards can deflate unexpectedly, posing a drowning hazard.

Surf 9 said it received three reports of the Body Glove boards deflating, however, no injuries have been reported.

The company has asked customers to immediately stop using the recalled boards and return them to Costco for a full refund.

The recalled boards were sold at Costco Wholesale Warehouses nationwide and online at www.costco.com. The Body Glove boards were sold from December 2021 through July 2022 for about $630. The ULI boards were sold from July 2021 through July 2022 for between $700 and $800.

Treasuries Regain Ground Following Recent Weakness

After moving notably lower over the past several sessions, treasuries regained some ground during trading on Thursday.

Bond prices moved steadily higher over the course of the morning and remained firmly positive throughout the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, slid 5.2 basis points to 3.835 percent.

With the pullback on the day, the ten-year yield gave back ground after ending the previous session at its highest closing level in well over a month.

The rebound by treasuries came as traders went bargain hunting following recent weakness, which reflected ongoing concerns about the outlook for interest rates.

Buying interest may also have been generated in reaction to a Labor Department report showing first-time claims for U.S. unemployment benefits rose by slightly more than expected in the week ended December 24th.

The report said initial jobless claims crept up to 225,000, an increase of 9,000 from the previous week’s unrevised level of 216,000. Economists had expected jobless claims to inch up to 222,000.

Overall trading activity remained below average, however, as many traders are still away from their desks due to the holidays.

With Friday marking the final trading day of 2022, activity may pick up somewhat but is likely to remain relatively subdued.