Following the market opening Friday, the Dow traded up 2.27% to 24,071.39 while the NASDAQ rose 1.44% to 8,655.39. The S&P also rose, gaining 2.16% to 2,859.98.
The U.S. is the epicenter of the coronavirus pandemic with the highest number of cases and deaths around the world. U.S. reported a total of 671,420 coronavirus cases with around 33,280 deaths. Spain confirmed a total of over 184,940 coronavirus cases with 19,310 deaths, while Italy reported a total of at least 168,940 confirmed cases and 22,170 deaths. In total, there were at least 2,167,950 cases of COVID-19 worldwide with over 146,050 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Energy shares climbed 5.6% on Friday. Meanwhile, top gainers in the sector included USA Compression Partners, LP USAC, up 30%, and PBF Energy Inc PBF, up 12%.
In trading on Friday, consumer staples shares rose by just 0.8%.
Top Headline
The Procter & Gamble Company PG reported better-than-expected earnings for its first quarter, while sales missed views.
Procter & Gamble posted quarterly earnings of $1.17 per share, beating analysts’ estimates of $1.13 per share. Its sales came in at $17.20 billion, missing expectations of $17.46 billion.
Equities Trading UP
AMC Entertainment Holdings, Inc. AMC shares shot up 32% to $3.2199 as equities gain amid a report suggesting Gilead Sciences' Remdesivir drug showed some effectiveness in treating the coronavirus. This has raised hopes of a sooner return to spending, economic activity, and investment.
Shares of Surgery Partners, Inc. SGRY got a boost, shooting 33% to $8.63.
Silvergate Capital Corporation SI shares were also up, gaining 31% to $13.08.
Equities Trading DOWN
MoSys, Inc. MOSY shares tumbled 38% to $1.57 after jumping 88% on Thursday.
Shares of Stein Mart, Inc. SMRT were down 32% to $0.2378 after the company announced a mutual termination of merger agreement with Kingswood.
Pulmatrix, Inc. PULM was down, falling 27% to $1.2898 after the company reported an $8 million registered direct offering priced at-the-market under Nasdaq rules.
Commodities
In commodity news, oil traded down 6.1% to $18.65, while gold traded down 1.8% to $1,699.80.
Silver traded down 2.3% Friday to $15.26, while copper rose 2% to $2.3365.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 3.2%, the Spanish Ibex Index rose 3%, while Italy’s FTSE MIB Index climbed 2.8%. Meanwhile, the German DAX gained 4.2%, and the French CAC 40 climbed 4.1% while UK shares rose 3.5%.
Economics
The index of leading economic indicators declined 6.7% for March.
The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
