Crude Oil Tumbles 12%; State Street Posts Upbeat Earnings
Badger Meter, Inc. BMI | 0.00 | |
Critical Metals CRML | 0.00 | |
Corvus Pharmaceuticals, Inc. CRVS | 0.00 | |
Energy Focus, Inc. EFOI | 0.00 | |
Fitness Champs Holdings Limited FCHL | 0.00 |
U.S. stocks traded higher midway through trading, with the Dow Jones index gaining over 2% on Friday.
The Dow traded up 2.16% to 49,629.15 while the NASDAQ surged 1.61% to 24,489.57. The S&P 500 also rose, gaining, 1.35% to 7,136.68.
Leading and Lagging Sectors
Consumer discretionary shares climbed by 3.1% on Friday.
In trading on Friday, energy stocks fell by 4.5%.
Top Headline
State Street Corp (NYSE:STT) reported upbeat earnings for the third quarter on Friday.
The company posted quarterly earnings of $2.84 per share which beat the analyst consensus estimate of $2.63 per share. The company reported quarterly sales of $3.796 billion which beat the analyst consensus estimate of $3.658 billion.
Equities Trading UP
- Energy Focus Inc (NASDAQ:EFOI) shares shot up 288% to $8.11. Energy Focus announced a multi-year data center infrastructure progress across key strategic projects
- Shares of Critical Metals Corp (NASDAQ:CRML) got a boost, surging 37% to $12.74 following reports suggesting the company raised its stake in Greenland's Tanbreez rare earth deposit.
- Corvus Pharmaceuticals Inc (NASDAQ:CRVS) shares were also up, gaining 10% to $16.45. Goldman Sachs analyst Paul Choi initiated coverage on Corvus Pharmaceuticals with a Buy rating and announced a price target of $40.
Equities Trading DOWN
- Fitness Champs Holdings Ltd (NASDAQ:FCHL) shares dropped 73% to $0.42 after the company announced pricing of $5 million public offering.
- Shares of Badger Meter Inc (NYSE:BMI) were down 18% to $124.16 after the company reported worse-than-expected Q1 financial results.
- Merlin Inc (NASDAQ:MRLN) was down, falling 18% to $13.17.
Commodities
In commodity news, oil traded down 12.3% to $83.09 while gold traded up 1.8% at $4,893.10.
Silver traded up 4.8% to $82.495 on Friday, while copper rose 0.6% to $6.1125.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 1.47%, while Spain's IBEX 35 Index rose 1.99%. London's FTSE 100 gained 0.67%, Germany's DAX gained 2.25% and France's CAC 40 rose 1.95% during the session.
Asia Pacific Markets
Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 falling 1.75%, China's Shanghai Composite slipping 0.10%, Hong Kong's Hang Seng Index dipping 0.89% and India's BSE Sensex gaining 0.65%.
Economics
The Baker Hughes oil rig count report for the latest week will be released today.
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