U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling around 1% on Friday.
The Dow traded down 1.17% to 42,465.24 while the NASDAQ dipped 0.55% to 19,554.01. The S&P 500 also fell, dropping, 0.54% to 6,012.88.
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Leading and Lagging Sectors
Energy shares jumped by 1.3% on Friday.
In trading on Friday, financial stocks fell by 2.1%.
Top Headline
The University of Michigan's consumer sentiment index increased to 60.5 in June from 52.2 in the previous two months, and also topping market estimates of 53.5.
Equities Trading UP
- Unusual Machines, Inc. (NYSE:UMAC) shares shot up 12% to $9.21 after the company agreed to acquire Rotor Lab in all-stock deal valued at $7 million. The company also announced termination of definitive agreement to acquire Aloft.
- Shares of RH (NYSE:RH) got a boost, surging 18% to $207.97 after the company reported better-than-expected first-quarter adjusted EPS results and announced it is maintaining its current FY25 guidance despite tariff and macroeconomic event uncertainty.
- Celldex Therapeutics, Inc. (NASDAQ:CLDX) shares were also up, gaining 17% to $23.70 as the company announced 76-week results from Barzolvolimab Phase 2 study in chronic spontaneous urticaria at EAACI Congress 2025.
Equities Trading DOWN
- SharpLink Gaming, Inc. (NASDAQ:SBET) shares dropped 66% to $11.11. SharpLink Gaming, announced the strategic acquisition of 176,270.69 ETH for an aggregate purchase price of $462,947,816 (inclusive of fees and expenses), at an average acquisition price of $2,626 per ETH (inclusive of fees and expenses).
- Shares of Senmiao Technology Limited (NASDAQ:AIHS) were down 39% to $0.63. Senmiao Technology on Friday announced a strategic partnership with Changsha Yipeng Information Technology Co., Ltd. to develop an AI-backed data management system to improve efficiency of online ride-hailing management platforms.
- Chanson International Holding (NASDAQ:CHSN) was down, falling 51% to $0.2711 as the company announced the pricing of $8 million public offering.
Commodities
In commodity news, oil traded up 6.1% to $72.11 while gold traded up 1.6% at $3,456.60.
Silver traded down 0.2% to $36.220 on Friday, while copper fell 1.9% to $4.7445.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.86%, while Spain's IBEX 35 Index fell 1.58%. London's FTSE 100 declined 0.34%, Germany's DAX 40 fell 1.21% and France's CAC 40 dipped 1.05% during the session.
Asia Pacific Markets
Asian markets closed lower on Friday, with Japan's Nikkei falling 0.89%, Hong Kong's Hang Seng Index dipping 0.59%, China's Shanghai Composite declining 0.75% and India's BSE Sensex dipping 0.70%.
Economics
The University of Michigan's consumer sentiment index increased to 60.5 in June from 52.2 in the previous two months, and also topping market estimates of 53.5.
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