U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining around 1% on Friday.
The Dow traded down 0.17% to 40,024.00 while the NASDAQ rose 0.96% to 17,330.36. The S&P 500 also rose, gaining, 0.45% to 5,509.57.
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Leading and Lagging Sectors
Communication services shares jumped by 0.9% on Friday.
In trading on Friday, materials fell by 1%.
Top Headline
Phillips 66 (NYSE:PSX) reported a wider-than-expected loss for the first quarter on Friday.
The company posted quarterly revenue of $31.73 billion, beating the consensus of $31.33 billion. The company posted an adjusted loss of 90 cents per share, which missed the consensus of a loss of 72 cents per share.
Equities Trading UP
- Coursera, Inc. (NYSE:COUR) shares shot up 13% to $8.70 following better-than-expected quarterly results.
- Shares of Baijiayun Group Ltd (NASDAQ:RTC)got a boost, surging 65% to $0.3053 as the company announced plans to invest tens of millions of dollars over next five years to establish new ecosystem for autism rehabilitation.
- SES AI Corporation (NYSE:SES) shares were also up, gaining 23% to $1.07 after the company reported better-than-expected first-quarter EPS results and authorized a $30 million share repurchase program.
Equities Trading DOWN
- Saia, Inc. (NASDAQ:SAIA) shares dropped 30% to $249.41 following weaker-than-expected quarterly results.
- Shares of Coeptis Therapeutics Holdings, Inc. (NASDAQ:COEP) were down 36% to $8.00. Coeptis Therapeutics and Z Squared Inc. announced a merger agreement.
- Lexaria Bioscience Corp. (NASDAQ:LEXX) was down, falling 20% to $1.34 as the company announced a $2 million registered direct offering of common stock.
Commodities
In commodity news, oil traded up 0.3% to $62.97 while gold traded down 1.7% at $3,291.10.
Silver traded down 1.7% to $32.945 on Friday, while copper fell 1% to $4.8085.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 gained 0.27%, Germany's DAX 40 gained 0.77% and France's CAC 40 gained 0.46%. Spain's IBEX 35 Index gained 1.13%, while London's FTSE 100 fell 0.03%.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan's Nikkei 225 surging 1.90%, China's Shanghai Composite falling 0.07%, Hong Kong's Hang Seng Index gaining 0.32% and India's BSE Sensex falling 0.74%.
Economics
The University of Michigan consumer sentiment was revised higher to a reading of 52.2 in April versus a preliminary reading of 50.8, and compared to March's reading of 57.
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