U.S. stocks traded higher this morning, with the Dow Jones index jumping over 100 points on Friday.
Following the market opening Friday, the Dow traded up 0.33% to 39,516.53 while the NASDAQ rose 0.43% to 16,416.55. The S&P 500 also rose, gaining, 0.38% to 5,233.70.
Check This Out: Top 3 Industrials Stocks That May Collapse This Month
Leading and Lagging Sectors
Information technology shares rose by 1% on Friday.
In trading on Friday, communication services shares fell by 0.2%.
Top Headline
DNOW Inc. (NYSE:DNOW) posted weaker-than-expected first-quarter financial results on Friday.
DNOW posted adjusted earnings of 21 cents per share, missing market estimates of 23 cents per share. The company's quarterly sales came in at $563.000 million, versus expectations of $569.150 million.
Equities Trading UP
- Novavax, Inc. (NASDAQ:NVAX) shares shot up 128% to $10.18 after the company and Sanofi announced a co-exclusive licensing agreement to commercialize a COVID-19 vaccine and develop COVID-influenza combination vaccines.
- Shares of iTeos Therapeutics, Inc. (NASDAQ:ITOS) got a boost, surging 41% to $17.18 after the company announced a $120 million registered direct offering and reported Q1 financial results.
- AEye, Inc. (NASDAQ:LIDR) shares were also up, gaining 45% to $1.70 after the company disclosed a partnership with LITEON Technology Corporation.
Equities Trading DOWN
- MacroGenics, Inc. (NASDAQ:MGNX) shares dropped 72% to $4.15 after the company reported worse-than-expected first-quarter financial results.
- Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) were down 42% to $2.2250 after the company reported worse-than-expected first-quarter financial results and lowered its FY24 sales guidance below estimates.
- Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was down, falling 31% to $0.0480.
Also Check This Out: How To Earn $500 A Month From Home Depot Stock Ahead Of Q1 Earnings
Commodities
In commodity news, oil traded up 0.8% to $79.88 while gold traded up 1.7% at $2,381.10.
Silver traded up 1.8% to $28.87 on Friday, while copper rose 2.2% to $4.6850.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.8%, Germany's DAX rose 0.5% and France's CAC 40 gained 0.7%. Spain's IBEX 35 Index rose 0.6%, while London's FTSE 100 rose 0.7%.
Industrial production in Italy declined by 0.5% month-over-month in March compared to a revised flat reading in the prior month.
The GDP in the UK expanded 0.4% month-over-month in March compared to revised 0.2% gain in February. UK’s trade deficit shrank to £1.098 billion in March versus a revised £1.478 billion in the previous month. Industrial production in the UK climbed 0.2% month-over-month during March.
Asia Pacific Markets
Asian markets closed higher on Friday, with Japan's Nikkei gaining 0.41%, China's Composite Index gaining 0.01%, Hong Kong's Hang Seng Index gaining 2.30% and India's S&P BSE Sensex gaining 0.36%.
The gauge for Japan's service sector fell to 47.4 in April from 49.8 in the prior month, while value of loans in Japan rose 3.1% year-over-year in April. Japanese current account surplus widened to JPY 3,398.8 billion in March versus JPY 2,360.0 billion in the year-ago month.
Economics
Data on consumer sentiment will be released today.
Now Read This: Insiders Buying PPG Industries And 2 Other Stocks
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
