Crude Oil Rises; Blend Labs Shares Jump Following Q2 Results

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite gaining more than 50 points on Friday.

The Dow traded down 0.05% to 39,426.08 while the NASDAQ rose 0.36% to 16,720.23. The S&P 500 also rose, gaining, 0.30% to 5,335.46.

Leading and Lagging Sectors

Information technology shares climbed by 0.6% on Friday.

In trading on Friday, industrials shares fell 0.3%.

Top Headline

The total number of active U.S. oil rigs increased by three to 485 rigs this week, Baker Hughes Inc reported.

Equities Trading UP

Doximity, Inc. DOCS shares shot up 36% to $35.02 after the company reported better-than-expected first-quarter financial results. Additionally, the company issued FY24 revenue guidance above estimates.
Shares of Iteris, Inc. ITI got a boost, surging 63% to $6.99 after the company announced it will be acquired by Almaviva for $335 million.
Blend Labs, Inc. BLND shares were also up, gaining 19% to $3.2050 after the company reported better-than-expected second-quarter financial results. Also, William Blair upgraded the stock from Market Perform to Outperform.

Equities Trading DOWN

AN2 Therapeutics, Inc. ANTX shares dropped 60% to $1.0650 after the company announced that it will discontinue its EBO-301 study following topline results from its Phase 2 part of the study in treatment-refractory patients with MAC lung disease.
Shares of Vicinity Motor Corp. VEV were down 64% to $0.1091. Vicinity Motor will release financial results for the second quarter, after the closing bell on Wednesday, Aug. 14.
Meta Materials Inc. MMAT was down, falling 44% to $1.16 after the company disclosed in an SEC filing that it ceased operations and filed a voluntary petition for relief under the provisions of Chapter 7 of Title 11 in the US Bankruptcy Court.

Commodities

In commodity news, oil traded up 0.9% to $76.85 while gold traded up 0.2% at $2,467.20.

Silver traded down 0.3% to $27.515 on Friday, while copper rose 0.7% to $3.9865.

Euro zone

European shares closed higher today. The eurozone's STOXX 600 rose 0.57%, Germany's DAX rose 0.24% and France's CAC 40 rose 0.31%. Spain's IBEX 35 Index rose 0.76%, while London's FTSE 100 rose 0.28%.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 0.56%, Hong Kong's Hang Seng Index gaining 1.17%, China's Shanghai Composite Index falling 0.27% and S&P BSE Sensex gaining 1.04%.

Economics

The total number of active U.S. oil rigs increased by three to 485 rigs this week, Baker Hughes Inc reported.

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