U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 2% on Friday.
The Dow traded up 1.91% to 45,642.89 while the NASDAQ rose 1.96% to 21,513.52. The S&P 500 also rose, gaining, 1.55% to 6,468.68.
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Leading and Lagging Sectors
Consumer discretionary shares jumped by 3.3% on Friday.
In trading on Friday, consumer staples stocks fell by 0.3%.
Top Headline
Shares of Workday, Inc. (NASDAQ:WDAY) fell more than 3% on Friday after the company reported second-quarter results and issued third-quarter sales guidance below estimates. Additionally, the company announced it will acquire Paradox.
Equities Trading UP
- EpicQuest Education Group International Ltd (NASDAQ:EEIQ) shares shot up 137% to $1.2850 after the company announced a year-over-year increase in H1 financial results.
- Shares of ModivCare Inc (NASDAQ:MODV) got a boost, surging 113% to $1.1906 following the healthcare services company's announcement of a Chapter 11 bankruptcy filing paired with a $100 million investment commitment from secured lenders.
- Ubiquiti Inc. (NYSE:UI) shares were also up, gaining 28% to $500.00 after the company reported better-than-expected quarterly results and announced a $500 million stock repurchase program.
Equities Trading DOWN
- BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) shares dropped 8% to $97.73 after the company reported a second-quarter revenue miss.
- Shares of Newegg Commerce, Inc. (NASDAQ:NEGG) were down 15% to $98.01 after the company reported H1 financial results.
- 5E Advanced Materials Inc (NASDAQ:FEAM) was down, falling 24% to $3.5098 after the company announced an $8.31 million public offering.
Commodities
In commodity news, oil traded up 0.4% to $63.80 while gold traded up 1.1% at $3,417.80.
Silver traded up 2.4% to $39.010 on Friday, while copper rose 0.7% to $4.4740.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.40%, while Spain's IBEX 35 Index rose 0.61%. London's FTSE 100 rose 0.13%, Germany's DAX 40 gained 0.29% and France's CAC 40 rose 0.40% during the session.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 0.05%, Hong Kong's Hang Seng gaining 0.93%, China's Shanghai Composite gaining 1.45% and India's BSE Sensex falling 0.85%.
Economics
The Baker Hughes oil rig count fell by 1 to 411 in the latest week.
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