Market Overview

Mid-Day Market Update: Crude Oil Down 4%; SORL Auto Parts Shares Spike Higher

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Midway through trading Friday, the Dow traded down 0.32% to 28074.12 while the NASDAQ fell 0.24% to 8,684.20. The S&P also fell, dropping 0.27% to 3,145.27.

Leading and Lagging Sectors

Real estate shares climbed 0.1% on Friday. Meanwhile, top gainers in the sector included The St. Joe Company (NYSE: JOE), up 9%, and BRT Apartments Corp. (NYSE: BRT), up 5%.

In trading on Friday, energy shares fell 1.2%.

Top Headline

Tech Data Corporation (NASDAQ: TECD) shares jumped around 12% after the company announced it will be acquired by Apollo affiliates for $145/share in cash, an increase from $130/share previously.

Equities Trading UP

ASLAN Pharmaceuticals Limited (NASDAQ: ASLN) shares shot up 92% to $4.46 after surging 81.25% on Wednesday.

Shares of Can-Fite BioPharma Ltd. (NYSE: CANF) got a boost, shooting up 32% to $3.40 following Q3 clinical update, highlighting an agreement with the FDA on its liver cancer study design, a South Korean distribution deal and an agreement to develop cannabinoid-based pharmaceuticals and assays.

SORL Auto Parts, Inc. (NASDAQ: SORL) shares were also up, gaining 28% to $4.3650 after the company announced it would be acquired for $4.72 per share.

Equities Trading DOWN

Paringa Resources Limited (NASDAQ: PNRL) shares tumbled 57% to $2.25 after climbing 266.20% on Wednesday.

Shares of Pier 1 Imports, Inc. (NYSE: PIR) were down 11% to $8.33.

TKK Symphony Acquisition Corporation (NASDAQ: TKKS) was down, falling 18% to $8.31.

Commodities

In commodity news, oil traded down 4% to $55.79, while gold traded up 0.6% to $1,469.50.

Silver traded up 0.1% Friday to $17.075, while copper fell 1.5% to $2.6545.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.35%, the Spanish Ibex Index rose 0.02%, while Italy’s FTSE MIB Index declined 0.22%. Meanwhile, the German DAX dropped 0.03%, and the French CAC 40 fell 0.08% while UK shares fell 0.94%.

Economics

Data on money supply for the recent week will be released at 4:30 p.m. ET.

 

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