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Crude Oil Edges Lower; Asensus Surgical Shares Jump
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Crude Oil Edges Lower; Asensus Surgical Shares Jump
Jun 7, 2024 12:21 PM

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite falling around 0.1% on Friday.

The Dow traded up 0.12% to 38,931.98 while the NASDAQ fell 0.09% to 17,156.98. The S&P 500 also rose, gaining, 0.11% to 5,359.05.

Check This Out: Vail Resorts, DocuSign And 3 Stocks To Watch Heading Into Friday

Leading and Lagging Sectors

Financial shares climbed by 0.7% on Friday.

In trading on Friday, real estate shares dipped by 0.8%.

Top Headline

The total number of active U.S. oil rigs fell by four to 492 rigs this week, Baker Hughes Inc reported.

Equities Trading UP

                       

Venus Concept Inc ( VERO ). shares shot up 74% to $1.0776 on continued upward momentum after the stock regained Nasdaq compliance.

Shares of Asensus Surgical, Inc ( ASXC ). got a boost, surging 41% to $0.3322 after the company announced it will be acquired by KARL STORZ for $0.35 per share in cash.

Geron Corporation ( GERN ) shares were also up, gaining 20% to $4.6650. On Thursday, the FDA approved Geron's ( GERN ) Rytelo (imetelstat) for adult patients with low-to intermediate-1 risk myelodysplastic syndromes (MDS) with transfusion-dependent anemia.

Equities Trading DOWN

Biomea Fusion, Inc. ( BMEA ) shares dropped 64% to $4.07 after the United States Food and Drug Administration (FDA) imposed a full clinical hold on its Phase I/II trials for BMF-219, a diabetes treatment.

Shares of Barnes & Noble Education, Inc ( BNED ) were down 43% to $0.1856 after the company announced final results of rights offering.

GameStop Corp ( GME ). was down, falling 41% to $27.45 after the company released worse-than-expected first-quarter results before schedule and filed to sell up to 75 million shares.

Also Check This Out: Top 3 Energy Stocks That May Fall Off A Cliff In Q2

Commodities

In commodity news, oil traded down 0.2% to $75.38 while gold traded down 3.1% at $2,317.60.

Silver traded down 6.6% to $29.29 on Friday, while copper fell 4.4% to $4.4715.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.22%, Germany's DAX declined 0.51% and France's CAC 40 fell 0.48%. Spain's IBEX 35 Index fell 0.34%, while London's FTSE 100 fell 0.48%.

The Eurozone economy grew by 0.3% on quarter during the first three months of the year, compared to a 0.1% contraction in each of the prior two quarters. The Halifax House Price Index in the UK gained 1.5% year-over-year in May following a 1.1% increase in April.

French trade deficit increased to €7.6 billion in April, compared to market estimates of €5.4 billion. German trade surplus narrowed to EUR 22.1 billion in April versus a revised EUR 22.2 billion in March. Exports from Germany rose by 1.6% month-over-month to a 14-month high level of EUR 136.5 billion in April, while imports to Germany rose by 2.0% to a 10-month high of EUR 114.5 billion.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei falling 0.05%, China's Composite Index gaining 0.08%, Hong Kong's Hang Seng Index dipping 0.59% and India's S&P BSE Sensex gaining 2.16%.

Foreign exchange reserves in Singapore rose to SGD 500.86 billion in May versus SGD 500.30 billion in the prior month, while China’s foreign exchange reserves climbed to $3.23 trillion in May from $3.2 trillion a month ago. China’s trade surplus increased to $82.62 billion in May from $65.55 billion in the year-ago period.

The index of leading economic indicators in Japan fell to 111.6 in April versus a revised 111.7 in the prior month, while index of coincident economic indicators rose to 115.2 in April from a revised 114.2 in the previous month. The Reserve Bank of India maintained its benchmark policy repo at 6.5% in June.

Economics

U.S. nonfarm payrolls increased by 272,000 in May, a slowdown from April's 165,000 and far more than the 180,000 increase anticipated by Econoday.

The unemployment rate inched higher from 3.9% to 4%. Average hourly earnings rose by 4.1% year-over-year, up from 3.9% in April and below the expected 3.9% increase.

U.S. wholesale inventories increased by 0.1% month-over-month in April compared to the advance reading of a 0.2% increase and versus a revised 0.5% declined in the previous month.

The total number of active U.S. oil rigs fell by four to 492 rigs this week, Baker Hughes Inc reported.

Now Read This: Wall Street’s Most Accurate Analysts Weigh In On 3 Risk Off Stocks Delivering High-Dividend Yields

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