Crude Oil Falls Over 4%; Quoin Pharmaceuticals Shares Spike Higher

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling around 2.5% on Friday.

The Dow traded up 1.26% to 45,772.50 while the NASDAQ rose 2.46% to 22,459.24. The S&P 500 also rose, gaining, 1.79% to 6,614.73.

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Leading and Lagging Sectors

Consumer staples shares jumped by 0.6% on Friday.

In trading on Friday, energy stocks fell by 0.6%.

Top Headline

The University of Michigan consumer sentiment slipped to 55 in October from 55.1 in September and compared to market estimates of 54.2.

Equities Trading UP

Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) shares shot up 293% to $32.10. The company announced a $104.5 million private placement.
Shares of ESS Tech, Inc. (NYSE:GWH) got a boost, surging 83% to $3.15 after the company announced an agreement with Salt River Project to add five megawatt, 50 megawatt-hour battery system to the grid in Florence, Arizona.
Applied Digital Corporation (NASDAQ:APLD) shares were also up, gaining 24% to $36.46 after the company reported better-than-expected first-quarter financial results. Also, Needham maintained a Buy rating on the stock and raised its price target from $21 to $41.

Equities Trading DOWN

Bollinger Innovations, Inc. (NASDAQ:BINI) shares dropped 58% to $0.5856 after the company announced it will move to OTC markets on October 13, 2025 and will be suspended from trading on the Nasdaq.
Shares of Venture Global, Inc. (NASDAQ:VG) were down 20% to $10.07 after the company announced it resolved arbitration with a post-COD LNG customer and faces over $1 billion damages risks after a tribunal finds a breach in BP arbitration. Also, Mizuho downgraded the stock from Outperform to Neutral and lowered its price target from $17 to $12.
Tian Ruixiang Holdings Ltd. (NASDAQ:TIRX) was down, falling 39% to $1.4380. TIAN RUIXIANG Holdings announced the pricing of $3 million registered direct offering of ordinary shares.

Commodities

In commodity news, oil traded down 4.2% to $58.94 while gold traded up 0.7% at $3,999.90.

Silver traded up 2.7% to $48.440 on Friday, while copper rose 0.6% to $5.1540.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.23%, while Spain's IBEX 35 Index rose 0.45%. London's FTSE 100 fell 0.14%, Germany's DAX 40 fell 0.10% and France's CAC 40 slipped 0.36% during the session.

Asia Pacific Markets

Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 declining 1.01%, Hong Kong's Hang Seng index falling 1.73%, China's Shanghai Composite falling 0.94% and India's BSE Sensex rising 0.40%.

Economics

The University of Michigan consumer sentiment slipped to 55 in October from 55.1 in September and compared to market estimates of 54.2.

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