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Crude Oil Down 1%; Sweetgreen Shares Spike Higher

Published 10/05/2024, 19:30
Updated 10/05/2024, 20:40
© Reuters.  Crude Oil Down 1%; Sweetgreen Shares Spike Higher
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Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stocks traded mixed toward the end of trading, with the Dow Jones gaining around 100 points on Friday.

The Dow traded up 0.24% to 39,482.36 while the NASDAQ fell 0.06% to 39,482.36. The S&P 500 also rose, gaining, 0.11% to 5,219.64 .

Check This Out: Top 3 Industrials Stocks That May Collapse This Month

Leading and Lagging Sectors

Financials shares rose by 0.4% on Friday.

In trading on Friday, consumer discretionary shares fell by 0.7%.

Top Headline

The University of Michigan consumer sentiment declined to 67.4 in May versus 77.2 in the prior month, recording the weakest level in six months. However, markets were expecting a reading of 76.

Equities Trading UP

  • Novavax, Inc. (NASDAQ:NVAX) shares shot up 99% to $8.91 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 Sweetgreen, Inc. (NASDAQ:SG) got a boost, surging 33% to $31.45 after the company reported better-than-expected first-quarter sales results.
  • AEye, Inc. (NASDAQ:LIDR) shares were also up, gaining 87% to $2.2042 after the company disclosed a partnership with LITEON Technology Corporation.
Equities Trading DOWN

  • MacroGenics, Inc. (NASDAQ:MGNX) shares dropped 77% to $3.3250 after the company reported worse-than-expected first-quarter financial results.
  • Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) were down 42% to $2.24 after the company reported worse-than-expected first-quarter financial results and lowered its FY24 sales guidance below estimates.
  • Flux Power Holdings, Inc. (NASDAQ:FLUX) was down, falling 24% to $3.4791 after the company reported worse-than-expected quarterly financial results.
Also Check This Out: How To Earn $500 A Month From Home Depot Stock Ahead Of Q1 Earnings

Commodities

In commodity news, oil traded down 1.2% to $78.31 while gold traded up 1.5% at $2,375.50.

Silver traded up 0.6% to $28.525 on Friday, while copper rose 1.6% to $4.6595.

Euro zone

European shares closed higher today. The eurozone's STOXX 600 rose 0.77%, Germany's DAX rose 0.46% and France's CAC 40 gained 0.38%. Spain's IBEX 35 Index rose 0.50%, while London's FTSE 100 rose 0.63%.

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

  • The University of Michigan consumer sentiment declined to 67.4 in May versus 77.2 in the prior month, recording the weakest level in six months. However, markets were expecting a reading of 76.
  • The total number of active U.S. oil rigs slipped by 3 to 496 rigs this week, Baker Hughes Inc reported.
Now Read This: Insiders Buying PPG Industries And 2 Other Stocks

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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