S&P 500 Gains 1.5%; SentinelOne Shares Plummet

U.S. stocks extended gains toward the end of trading, with Dow Jones gaining around 700 points on Friday.

The Dow traded up 2.11% to 33,759.28 while the NASDAQ rose 1% to 13,232.37. The S&P 500, also rose, gaining, 1.46% to 4,282.45.

Check This Out: $2M Bet On Align Technology? Check Out These 3 Stocks Insiders Are Buying

Leading and Lagging Sectors

• Materials shares jumped by 3.3% on Friday. Meanwhile, top gainers in the sector included The Chemours Company CC, up 23%, and 5E Advanced Materials Inc. FEAM, up 15%.
• In trading on Friday, information technology shares rose by just 0.4%.

Top Headline

The U.S. economy added 339,000 jobs in May, significantly higher than market estimates of 190,000. The unemployment rate, however, increased to 3.7% in May.

Equities Trading UP

• MultiMetaVerse Holdings Limited MMV shares shot up 188% to $2.71 after the company announced it signed a non-binding term sheet to acquire an equity stake in Taomee group.
• Shares of Samsara Inc. IOT got a boost, shooting 30% to $24.63 after the company reported better-than-expected first-quarter results and raised its FY24 outlook.
• Yunji Inc. YJ shares were also up, gaining 77% to $0.3751 after reporting first-quarter financial results.

Equities Trading DOWn

• SentinelOne, Inc. S shares dropped 37% to $13.06 after the company reported worse-than-expected first-quarter sales and issued weak second-quarter guidance.
• Shares of PagerDuty, Inc. PD were down 17% to $23.07 after the company issued weak revenue guidance.
• Oncorus, Inc. ONCR was down, falling 42% to $0.1059 after the company announced a workforce reduction plan of approximately 55 employees.

Also Check This Out: Wall Street's Most Accurate Analysts Say Hold These 3 Utilities Stocks With Over 4% Dividend Yields

Commodities

In commodity news, oil traded up 2.1% to $71.56 while gold traded down 1.3% at $1,969.70.

Silver traded down 1% to $23.745 on Friday while copper rose 0.3% to $3.7235.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 rose 1.51%, London’s FTSE 100 rose 1.56% while Spain’s IBEX 35 Index rose 1.63% The German DAX gained 1.25% French CAC 40 rose 1.87% and Italy’s FTSE MIB Index climbed 1.85%.

Industrial production in France increased by 0.8% month-over-month in April versus a 1.1% drop in the prior month, and compared to market estimates of a 0.3% gain.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan’s Nikkei 225 gaining 1.21%, Hong Kong’s Hang Seng Index jumping 4.02% and China’s Shanghai Composite Index rising 0.79%. India’s S&P BSE Sensex rose 0.2%.

The value of new home loans in Australia fell by 3.8% month-over-month to A$15.40 billion during the month of April.

Economics

• The U.S. economy added 339,000 jobs in May, significantly higher than market estimates of 190,000. The unemployment rate, however, increased to 3.7% in May.
• The total number of active U.S. oil rigs fell by 15 to 555 rigs this week, Baker Hughes Inc reported.

Now Read This: Top 5 Materials Stocks You'll Regret Missing This Quarter

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,123,540 cases with around 1,165,530 deaths. India confirmed a total of at least 44,990,870 cases and 531,870 deaths, while France reported over 40,090,330 COVID-19 cases with 167,310 deaths. In total, there were at least 689,748,740 cases of COVID-19 worldwide with more than 6,885,490 deaths.