Crude Oil Down 3%; Netflix Earnings Top Estimates

U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite falling more than 100 points on Friday.

The Dow traded down 0.91% to 40,293.66 while the NASDAQ fell 0.70% to 17,746.27. The S&P 500 also fell, dropping, 0.61% to 5,510.84.

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Leading and Lagging Sectors

Heath care shares jumped by 0.5% on Thursday.

In trading on Thursday, information technology shares fell by 1%.

Top Headline

Netflix Inc. NFLX posted better-than-expected earnings and sales results for its second quarter, after the closing bell on Thursday.

The company ended the second quarter with 277.65 million paid members, adding 8.05 million paid members in the quarter.

Equities Trading UP
                       

• Augmedix, Inc. AUGX shares shot up 148% to $2.27 after the company announced it will be acquired by Commure.
• Shares of 60 Degrees Pharmaceuticals, Inc. SXTP got a boost, surging 42% to $0.3494 after the company signed clinical trial agreements with three planned trial sites for the Tafenoquine Babesiosis study.
• Hawaiian Electric Industries, Inc. HE shares were also up, gaining 37% to $17.50 following a report suggesting the company reached a settlement plan over the Maui wildfires.

Equities Trading DOWN

• Silo Pharma Inc SILO shares dropped 26% to $2.5598 as the company announced a $2.1 million registered direct offering priced at-the-market under Nasdaq rules.
• Shares of Hyzon Motors Inc. HYZN were down 50% to $0.1428 after the company reported pricing of $4.5 million registered direct offering.
• Nauticus Robotics, Inc. KITT was down, falling 30% to $0.0900 after the company announced a 1-for-36 reverse stock split.

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Commodities

In commodity news, oil traded down 3% to $80.36 while gold traded down 2.3% at $2,400.70.

Silver traded down 3% to $29.325 on Friday, while copper fell 1% to $4.2350.

Euro zone

European shares closed lower today. The eurozone's STOXX 600 fell 0.77%, Germany's DAX fell 1.00% and France's CAC 40 fell 0.69%. Spain's IBEX 35 Index fell 0.54%, while London's FTSE 100 fell 0.60%.

Construction output in the Eurozone fell 2.4% year-over-year in May compared to a revised 1.5% decline in the prior month. Passenger car registrations in the European Union climbed 4.3% year-over-year to 1.1 million units in June.

Regular pay in the U.K., excluding bonus payment, rose 5.7% year-over-year to GBP 643/week during the three months to May, while the unemployment rate came in unchanged at 4.4% from March to May.

Asia Pacific Markets

Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 falling 0.16%, Hong Kong's Hang Seng Index dipping 2.03%, China's Shanghai Composite Index gaining 0.17% and India's S&P BSE Sensex declining 0.91%.

Hong Kong’s unemployment rate came in unchanged at 3% during the three months ending June. Japan reported a trade surplus of JPY 224.04 billion in June, compared to market views for a deficit of JPY 240 billion.

Economics

The total number of active U.S. oil rigs fell by 1 to 477 rigs this week, Baker Hughes Inc reported.

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