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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesGlobalIntraday UpdateMarketsMid Afternoon Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!