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Crude Oil Gains 1%; GameStop Shares Plunge
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Crude Oil Gains 1%; GameStop Shares Plunge
May 17, 2024 12:10 PM

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite falling around 50 points on Friday.

The Dow traded up 0.12% to 39,917.54 while the NASDAQ fell 0.33% to 16,642.74. The S&P 500 also fell, dropping, 0.10% to 5,291.68.      .

Check This Out: Walmart To Rally Over 17%? Here Are 10 Top Analyst Forecasts For Friday

Leading and Lagging Sectors

Energy shares rose by 1.4% on Friday.

In trading on Friday, information technology shares fell by 0.8%.

Top Headline

U.S. leading index fell 0.6% month-over-month for April, versus market expectations for a 0.3% decline.

Equities Trading UP

                       

Autolus Therapeutics plc ( AUTL ) shares shot up 10% to $4.49 following first-quarter results.

Shares of Despegar.com, Corp ( DESP ). got a boost, surging 19% to $14.97 after the company reported better-than-expected quarterly sales results.

Doximity, Inc ( DOCS ). shares were also up, gaining 17% to $27.68 as the company reported stronger-than-expected financial results for the fourth quarter on Thursday.

Equities Trading DOWN

DXC Technology Company ( DXC ) shares dropped 17% to $16.52 after the company issued weak guidance.

Shares of AmpliTech Group, Inc ( AMPG ). were down 33% to $1.46.

GameStop Corp ( GME ) was down, falling 23% to $21.23. The video game retailer released preliminary first-quarter results, anticipating revenue between $0.872 billion and $0.892 billion. This represents a significant decline from the prior year's quarter of $1.237 billion. Additionally, GameStop ( GME ) expects a loss of $27 million to $37 million, narrower than the $50.5 million loss reported a year ago.

Also Check This Out: Qualcomm, Morgan Stanley And 2 Other Stocks Insiders Are Selling

Commodities

In commodity news, oil traded up 1% to $80.02 while gold traded up 1.5% at $2,420.40.

Silver traded up 5.5% to $31.52 on Friday, while copper rose 3.8% to $5.0645.

Euro zone

European shares closed mostly lower today. The eurozone's STOXX 600 slipped 0.13%, Germany's DAX fell 0.18% and France's CAC 40 fell 0.26%. Spain's IBEX 35 Index rose 0.25%, while London's FTSE 100 fell 0.22%.

Annual inflation rate in the Eurozone was confirmed at 2.4% in April, the same as in the previous month. The unemployment rate in France came in unchanged at 7.5% for the first quarter.

Asia Pacific Markets

Asian markets closed mostly higher on Friday, with Japan's Nikkei falling 0.34%, China's Composite Index climbing 1.01%, Hong Kong's Hang Seng Index gaining 0.91% and India's S&P BSE Sensex gaining 0.3%.

China’s retail sales climbed by 2.3% year-over-year, compared to a 3.1% surge in the previous period, while unemployment rate fell to 5.0% in April. China’s industrial production rose by 6.7% year-over-year in April, topping market expectations of 5.5%, while new home prices fell by 3.1% year-over-year in April.

Hong Kong's GDP increased by 2.7% year-over-year in the first quarter, easing from the 4.3% growth recorded in the prior period.

Economics

U.S. leading index fell 0.6% month-over-month for April, versus market expectations for a 0.3% decline.

Now Read This: Top 2 Energy Stocks That May Rocket Higher This Month

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