Mid-Afternoon Market Update: Nasdaq Falls 150 Points; Crude Oil Rises 2%

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite dropping more than 100 points on Friday.

The Dow traded up 0.48% to 34,749.95 while the NASDAQ fell 1.12% to 13,741.97. The S&P also fell, dropping, 0.14% to 4,494.07.

Also check this: Alphabet And 3 Other Stocks Sold By Insiders

Leading and Lagging Sectors

Energy shares jumped by 2.6% on Friday. Meanwhile, top gainers in the sector included Borr Drilling Limited BORR, up 13% and Ardmore Shipping Corporation ASC up 11%.

In trading on Friday, information technology shares fell 1%.

Top Headline

US wholesale inventories rose 2.5% in February, versus analysts' expectations for a 2.1% increase.

Equities Trading UP

Lyra Therapeutics, Inc. LYRA shares shot up 18% to $5.11 as the company reported a private placement for gross proceeds of $110.5 million.

Shares of MedAvail Holdings, Inc. MDVL got a boost, shooting 61% to $2.2697 on continued strength after Ally Bridge Group on Wednesday reported in a Form 4 filing a purchase of roughly 21.176 million shares of MedAvail Holdings for an average price of $1.06 per share.

Aterian, Inc. ATER shares were also up, gaining 16% to $4.4602 amid retail investor interest on social media.

Equities Trading DOWN

BioCryst Pharmaceuticals, Inc. BCRX shares tumbled 36% to $11.57 after the company paused enrollment in clinical trials with BCX9930 as it investigates elevated serum creatinine levels observed in some patients.

Shares of Sunshine Biopharma, Inc. SBFM were down 29% to $6.85 after the company announced a common stock offering of approximately 7.207 million shares.

FTC Solar, Inc. FTCI was down, falling 18% to $3.7750 after Piper Sandler downgraded the stock from Overweight to Neutral and announced a $4 price target.

Also check out: Executives Buy More Than $12M Of 3 Stocks


In commodity news, oil traded up 2.1% to $98.07, while gold traded up 0.4% to $1,944.70.

Silver traded up 0.4% Friday to $24.835 while copper rose 0.5% to $4.7240.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 1.31%, London’s FTSE 100 rose 1.56%, while Spain’s IBEX 35 Index rose 1.64%. The German DAX gained 1.46%, French CAC 40 rose 1.34% and Italy’s FTSE MIB Index climbed 2.13%.

Industrial production in Spain climbed 3% year-over-year in February.


US wholesale inventories rose 2.5% in February, versus analysts' expectations for a 2.1% increase.

The total number of active U.S. oil rigs climbed by 13 to 546 rigs this week, Baker Hughes Inc reported.

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 81,988,270 cases with around 1,011,090 deaths. India confirmed a total of at least 43,033,060 cases and 521,600 deaths, while Brazil reported over 30,094,380 COVID-19 cases with 661,030 deaths. In total, there were at least 496,735,870 cases of COVID-19 worldwide with more than 6,196,240 deaths.


Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsMid-Afternoon Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!