U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 100 points on Friday.
Following the market opening Friday, the Dow traded up 0.18% to 46,226.49 while the NASDAQ rose 0.50% to 22,582.78. The S&P 500 also rose, gaining, 0.23% to 6,646.98.
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Leading and Lagging Sectors
Consumer discretionary shares jumped by 0.8% on Friday.
In trading on Friday, energy stocks fell by 0.9%.
Top Headline
FedEx Corp. (NYSE:FDX) posted better-than-expected financial results for the first quarter of fiscal 2026 on Thursday after the bell.
FedEx reported first-quarter revenue of $22.2 billion, beating analyst estimates of $21.67 billion, according to Benzinga Pro. The company reported first-quarter adjusted earnings of $3.83 per share, beating estimates of $3.62 per share.
FedEx expects revenue to be up 4% to 6% on a year-over-year basis in fiscal 2026. The company also reaffirmed plans for permanent cost reductions of $1 billion from structural cost reductions and the advancement of Network 2.0.
Equities Trading UP
- AGM Group Holdings Inc. (NASDAQ:AGMH) shares shot up 323% to $9.43 following the filing of Form 6-K with the Securities and Exchange Commission. The filing revealed that AGM's subsidiary in Hong Kong finalized the sale of Nanjing Lucun Semiconductor Co. Ltd. to Hong Kong Giant Electronics Co., Limited for $57.45 million on May 7. Nanjing Lucun mainly manufactures advanced hardware and computing equipment.
- Shares of Barfresh Food Group, Inc. (NASDAQ:BRFH) got a boost, surging 21% to $4.64 after the company issued a year-over-year increase in preliminary FY26 Pro Forma revenue guidance and raised its FY25 sales guidance above estimates. The company will acquire all outstanding capital stock of Arps Dairy.
- ZOOZ Power Ltd. (NASDAQ:ZOOZ) shares were also up, gaining 40% to $3.26 after shareholders approved all proposals related to its $180M private placement and Bitcoin treasury reserve strategy.
Equities Trading DOWN
- Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) shares dropped 38% to $0.2593 after the company announced the pricing of a $9 million offering of 27 million common shares together with 27 million Series E Warrants and 27 million Series F Warrants at $0.335 per share.
- Shares of ChowChow Cloud International (NASDAQ:CHOW) were down 16% to $4.51 amid post-IPO volatility.
- AtlasClear Holdings, Inc. (NASDAQ:ATCH) was down, falling 16% to $0.9779.
Commodities
In commodity news, oil traded down 0.6% to $63.20 while gold traded up 0.1% at $3,683.50.
Silver traded up 0.5% to $42.340 on Friday, while copper rose 0.2% to $4.6080.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.1%, while Spain's IBEX 35 Index rose 0.6%. London's FTSE 100 rose 0.1%, Germany's DAX 40 fell 0.1% and France's CAC 40 climbed 0.3% during the session.
Asia Pacific Markets
Asian markets closed mostly lower on Friday, with Japan's Nikkei falling 0.57%, Hong Kong's Hang Seng gaining 0.0009%, China's Shanghai Composite declining 0.30% and India's BSE Sensex falling 0.47%.
Economics
The Baker Hughes oil rig count report for the latest week will be released today.
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