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Nasdaq Down 50 Points; S&P Global Composite PMI Hits 26-Month High
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Nasdaq Down 50 Points; S&P Global Composite PMI Hits 26-Month High
Jun 21, 2024 7:29 AM

U.S. stocks traded mixed this morning, with the Nasdaq Composite falling around 50 points on Friday.

Following the market opening Friday, the Dow traded up 0.18% to 39,206.92 while the NASDAQ fell 0.29% to 17,669.56. The S&P 500 also fell, dropping, 0.20% to 5,461.98.

Check This Out: Apple To Rally Over 14%? Here Are 10 Top Analyst Forecasts For Friday

Leading and Lagging Sectors

Consumer staples shares jumped by 0.6% on Friday.

In trading on Friday, information technology shares fell by 1.1%.

Top Headline

The S&P Global composite PMI climbed to 54.6 in June, notching its strongest level since April 2022, and compared to 54.5 in May.

Equities Trading UP

                       

American Rebel Holdings, Inc. ( AREB ) shares shot up 164% to $0.8168 after the company signed a Connecticut distribution agreement with Dichello Distributors.

Shares of Sharecare, Inc ( SHCR ). got a boost, surging 75% to $1.3550 after the company agreed to be acquired by Altaris affiliate for $1.43 per share in cash.

Spectaire Holdings Inc. ( SPEC ) shares were also up, gaining 76% to $0.5998. The company recently announced a purchase order and delivery of its advanced AireCore units to American Ag Energy.

Equities Trading DOWN

Kaival Brands Innovations Group, Inc ( KAVL ). shares dropped 45% to $1.59 after the company announced pricing of $6.0 million public offering.

Shares of Psyence Biomedical Ltd ( PBM ). were down 32% to $0.4030 after gaining 6% on Thursday.

Reliance Global Group, Inc ( RELI ). was down, falling 27% to $0.4423.

Also Check This Out:Top 3 Defensive Stocks That May Fall Off A Cliff This Quarter

Commodities

In commodity news, oil traded up 0.1% to $81.29 while gold traded down 0.4% at $2,360.50.

Silver traded down 2.9% to $29.935 on Friday, while copper fell 2.4% to $4.4505.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.9%, Germany's DAX fell 0.8% and France's CAC 40 fell 0.9%. Spain's IBEX 35 Index fell 1.6%, while London's FTSE 100 fell 0.6%.

The Eurozone manufacturing PMI fell to 45.6 in June from 47.3 in May, while services PMI fell to 52.6 in June from 53.2 a month ago.

The S&P Global UK composite PMI declined to 51.7 in June compared to 53.0 in May, while retail sales in the UK gained 2.9% month-over-month in May following a revised 1.8% fall in April. The HCOB Germany composite PMI fell to 50.6 in June compared to May’s reading of 52.4, while French composite PMI slipped to 48.2 from 48.9.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei falling 0.09%, Hong Kong's Hang Seng Index declining 1.67%, China's Shanghai Composite Index falling 0.24% and India's S&P BSE Sensex falling 0.1%.

The annual inflation rate in Hong Kong rose to 1.2% in May from 1.1% in the prior month, while Hong Kong’s current account surplus widened to HKD 100.96 billion during the first quarter from HKD 44.43 billion in the year-ago period.

The HSBC India Composite PMI climbed to 60.9 in June compared to 60.5 in the prior month, while au Jibun Bank Flash Japan composite PMI declined to 50.0 in June compared to 52.6 in May. The annual inflation rate in Japan rose to 2.8% in May versus 2.5% in the prior month.

Economics

The S&P Global composite PMI climbed to 54.6 in June, notching its strongest level since April 2022, and compared to 54.5 in May.

The S&P Global US services PMI surged to 55.1 in June versus 54.8 a month ago.

The S&P Global US manufacturing PMI climbed to a three-month high level of 51.7 in June.

Now Read This: Nvidia, Applied Materials And 2 Other Stocks Insiders Are Selling

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