U.S. stocks traded higher this morning, with the Dow Jones index falling around 500 points on Friday.
Following the market opening Friday, the Dow traded down 1% to 49,562.35 while the NASDAQ dipped 1.79% to 26,158.37. The S&P 500 also fell, dropping, 1.29% to 7,404.51.
Leading and Lagging Sectors
Energy shares jumped by 1.2% on Friday.
In trading on Friday, information technology stocks fell by 2.2%.
Top Headline
The NY Empire State Manufacturing Index rose to 19.6 in May from 11 in the previous month, also topping market estimates of 7.5. The latest reading signalled showed that New York manufacturing activity surged at its fastest pace in more than four years.
Equities Trading UP
- Hcw Biologics Inc (NASDAQ:HCWB) shares shot up 283% to $1.29 after the clinical-stage biopharmaceutical company posted first-quarter results.
- Shares of Dreamland Ltd (NASDAQ:TDIC) got a boost, surging 102% to $1.62.
- Auddia Inc (NASDAQ:AUUD) shares were also up, gaining 68% to $2.05. The company said Friday it filed an S-4 registration statement with the SEC tied to its planned merger with Thramann Holdings, LLC. After closing, the combined company will operate as McCarthy Finney and trade under the ticker MCFN.
Equities Trading DOWN
- eLong Power Holding Ltd (NASDAQ:ELPW) shares dropped 55% to $0.87 after the company announced pricing of $6.0 million public offering.
- Shares of Silexion Therapeutics Corp (NASDAQ:SLXN) were down 47% to $0.26 after the company announced exercise of warrants for $1 million gross proceeds.
- Gambling.com Group Ltd (NASDAQ:GAMB) was down, falling 41% to $2.44 after the company reported mixed first-quarter financial results and cut its FY26 sales guidance below estimates.
Commodities
In commodity news, oil traded up 2.4% to $103.62 while gold traded down 3.3% at $4,532.60.
Silver traded down 10% to $76.80 on Friday, while copper fell 4.8% to $6.2925.
Euro zone
European shares were lower today. The eurozone's STOXX 600 dipped 1.4%, while Spain's IBEX 35 Index fell 1.1%. London's FTSE 100 fell 1.6%, Germany's DAX dipped 1.9%, while France's CAC 40 slipped 1.4%.
Asia Pacific Markets
Asian markets closed lower on Friday, with Japan's Nikkei 225 falling 1.99%, Hong Kong's Hang Seng Index dipping 1.62%, China's Shanghai Composite dipping 1.02% and India's BSE Sensex declining 0.21%
Economics
- The NY Empire State Manufacturing Index rose to 19.6 in May from 11 in the previous month, also topping market estimates of 7.5.
- U.S. industrial production rose 0.7% in April, after falling 0.3% in March.
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