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U.S. stocks turned higher toward the end of trading, with the Dow Jones gaining around 200 points on Friday.
The Dow traded up 0.66% to 30,977.11 while the NASDAQ rose 0.36% to 11,068.57. The S&P also rose, gaining, 0.58% to 3,807.16.
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Leading and Lagging Sectors
Utilities shares rose by 2.2% on Friday. Meanwhile, top gainers in the sector included Cadiz Inc. (NASDAQ:CDZI), up 7% and Atlantica Sustainable Infrastructure plc (NASDAQ:AY) up 4%.
In trading on Friday, information technology shares fell by 0.2%.
Top Headline
The total number of active U.S. oil rigs climbed by 1 to 595 rigs this week, Baker Hughes Inc reported.
Equities Trading UP
VerifyMe, Inc. (NASDAQ:VRME) shares shot up 21% to $2.38 after the company announced liquidation of the G3 VRM Acquisition SPAC and initiated a new share repurchase program.
Shares of Coupang, Inc. (NYSE:CPNG) got a boost, shooting 17% to $14.97 after Credit Suisse upgraded the stock from Neutral to Outperform.
Accolade, Inc. (NASDAQ:ACCD) shares were also up, gaining 24% to $9.16 after the company reported better-than-expected Q1 results.
Equities Trading DOWN
Kohl's Corporation (NYSE:KSS) shares tumbled 18% to $29.41 after the company called off discussions to sell its business to Franchise Group Inc.
Shares of Talaris Therapeutics, Inc. (NASDAQ:TALS) were down 47% to $2.38. SVB Leerink downgraded Talaris Therapeutics from Outperform to Market Perform and lowered the price target from $21 to $7.
Agile Therapeutics, Inc. (NASDAQ:AGRX) was down, falling 44% to $0.6519 after the company priced a 26,666,666 share common stock offering at $0.90 per share.
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Commodities
In commodity news, oil traded up 2.5% to $108.38, while gold traded up 0.1% to $1,807.70.
Silver traded down 2.7% to $19.80 on Friday while copper fell 2.5% to $3.6190.
Euro zone
European shares closed mostly higher today. The eurozone’s STOXX 600 fell 0.02%, London’s FTSE 100 fell 0.01% while Spain’s IBEX 35 Index rose 0.96%. The German DAX gained 0.23%, French CAC 40 rose 0.14% and Italy’s FTSE MIB Index gained 0.29%.
The S&P Global manufacturing PMI for France declined to 51.4 in June from 54.6 in the previous month, while UK manufacturing PMI dropped to a two-year low of 52.8 in June. The S&P Global Eurozone manufacturing PMI declined to 52.1 in June from 54.6 in the previous month, while Italian manufacturing PMI declined to 50.9 from 50.1.
The S&P Global/BME manufacturing PMI for Germany dropped to 52 in June from 54.8 a month ago, while Spanish manufacturing PMI dipped to 52.6 from 53.8.
Economics
The S&P Global manufacturing PMI was revised higher to 52.7 in June from a preliminary reading of 52.4.
The ISM manufacturing index fell to 53 for June from 56.1 in May. Analysts, however, were expecting a reading of 54.9.
US construction spending fell 0.1% for May, compared to analysts’ expectations for a 0.4% increase.
The total number of active U.S. oil rigs climbed by 1 to 595 rigs this week, Baker Hughes Inc reported.
Check out this: Micron, Akebia Therapeutics And 3 Stocks To Watch Heading Into Friday
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 89,360,080 cases with around 1,042,670 deaths. India confirmed a total of at least 43,471,280 cases and 525,130 deaths, while Brazil reported over 32,358,450 COVID-19 cases with 671,460 deaths. In total, there were at least 552,796,530 cases of COVID-19 worldwide with more than 6,358,270 deaths.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.