U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 300 points on Friday.
Following the market opening Friday, the Dow traded up 0.36% to 52,394.11 while the NASDAQ surged 1.31% to 25,450.24. The S&P 500 also rose, gaining, 0.65% to 7,486.05.
Leading and Lagging Sectors
Consumer discretionary shares jumped by 5.6% on Friday.
In trading on Friday, materials stocks fell by 2.5%.
Top Headline
Shares of Amazon.com Inc. (NASDAQ:AMZN) jumped around 14% on Friday after the company posted upbeat financial results for the second quarter.
Amazon reported second-quarter revenue of $200.61 billion, beating the consensus estimate of $196.46 billion, according to Benzinga Pro. The company posted second-quarter earnings of $5.75 per share, beating analyst estimates of $1.82 per share.
Equities Trading UP
- Wetour Robotics Ltd (NASDAQ:WETO) shares shot up 234% to $0.10.
- Shares of Mangoceuticals Inc (NASDAQ:MGRX) got a boost, surging 167% to $0.78. Mangoceuticals, on Thursday, announced that it has entered into a definitive business combination agreement with Nuclea Energy.
- Replimune Group Inc (NASDAQ:REPL) shares were also up, gaining 127% to $12.28 after the company announced favorable outcome of FDA’s Cellular, Tissue, and Gene Therapies Advisory Committee Meeting for RP1 in advanced melanoma.
Equities Trading DOWN
- Karyopharm Therapeutics Inc (NASDAQ:KPTI) shares dropped 66% to $2.36 after the company announced topline results from its Phase 3 XPORT-EC-042 trial did not meet its primary endpoint of progression free survival.
- Shares of Nuwellis (NASDAQ:NUWE) were down 61% to $1.73 after the company announced the pricing of its $3.4 million offering of 1,310,890 shares at $2.59 per share.
- BIOAGE Labs Inc (NASDAQ:BIOA) was down, falling 57% to $10.69.
Commodities
In commodity news, oil traded up 2.5% to $85.68 while gold traded down 1.6% at $4,094.00.
Silver traded down 2.2% to $57.70 on Friday, while copper rose 0.4% to $6.5005.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.2%, while Spain’s IBEX 35 Index gained 0.3% London’s FTSE 100 rose 0.1%, Germany’s DAX gained 0.4%, while France’s CAC 40 surged 0.6%.
Asia Pacific Markets
Asian markets closed higher on Friday, with Japan’s Nikkei 225 surging 4.03%, Hong Kong’s Hang Seng index rising 0.01%, China’s Shanghai Composite gaining 0.72% and India’s BSE Sensex gaining 0.21%.
Economics
U.S. employment costs increased by 0.9% in the second quarter, up from market estimates of a 0.8% rise.
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