Crude Oil Gains Over 1%; EchoStar Posts Q1 Loss

U.S. stocks traded lower midway through trading, with the Dow Jones index falling around 0.5% on Friday.

The Dow traded down 0.46% to 41,180.09 while the NASDAQ fell 0.19% to 17,894.56. The S&P 500 also fell, dropping, 0.20% to 5,652.60.

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Leading and Lagging Sectors

Consumer discretionary shares rose by 1% on Friday.

In trading on Friday, consumer staples stocks fell by 0.3%.

Top Headline

EchoStar Corporation SATS reported wider-than-expected loss for the first quarter on Friday.

The company posted quarterly losses of 71 cents per share which missed the analyst consensus estimate of losses of 69 cents per share. The company reported quarterly sales of $3.87 billion which met the analyst consensus estimate.

Equities Trading UP

Gogo Inc. GOGO shares shot up 37% to $10.35 after the company reported better-than-expected first-quarter financial results and issued FY25 sales guidance above estimates.
Shares of Ouster, Inc. OUST got a boost, surging 27% to $10.95 after the company reported better-than-expected quarterly EPS results.
Definitive Healthcare Corp. DH shares were also up, gaining 43% to $4.01 after the company posted better-than-expected first-quarter results and raised its FY25 outlook.

Equities Trading DOWN

Super League Enterprise, Inc. SLE shares dropped 50% to $0.1628 after the company announced the pricing of underwritten public offering.
Shares of Twin Vee Powercats Co. VEEE were down 48% to $3.85 after the company reported the pricing of public offering.
Onto Innovation Inc. ONTO was down, falling 30% to $89.42 after the company reported first-quarter financial results and issued second-quarter guidance below estimates.

Commodities

In commodity news, oil traded up 1% to $60.75 while gold traded up 0.8% at $3,330.70.

Silver traded up 0.8% to $32.89 on Friday, while copper rose 1.5% to $4.6710.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.56%, while Spain's IBEX 35 Index rose 0.62%. London's FTSE 100 gained 0.30%, Germany's DAX 40 rose 0.74% and France's CAC 40 gained 0.91% during the session.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei gaining 1.56%, Hong Kong's Hang Seng Index gaining 0.40%, China's Shanghai Composite Index falling 0.30% and India's BSE Sensex falling 1.10%.

Economics

The Baker Hughes oil rig count report for the latest week will be released today.

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