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Crude Oil Rises; Onconetix Shares Spike Higher
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Crude Oil Rises; Onconetix Shares Spike Higher
Oct 3, 2024 12:06 AM

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite falling more than 100 points on Friday.

The Dow traded up 0.26% to 42,285.93 while the NASDAQ fell 0.59% to 18,083.01. The S&P 500 also fell, dropping, 0.25% to 5,731.09.

Check This Out: Micron To $150? Here Are 10 Top Analyst Forecasts For Friday

Leading and Lagging Sectors

Energy shares jumped by 1.3% on Friday.

In trading on Friday, information technology shares fell by 1%.

Top Headline

The total number of active U.S. oil rigs fell by four to 484 rigs this week, Baker Hughes Inc reported

Equities Trading UP

                       

IonQ, Inc. ( IONQ ) shares shot up 16% to $9.36 after the company announced it signed a $54.5 million contract with the United States Air Force Research Lab.

Shares of Onconetix, Inc. ( ONCO ) got a boost, surging 56% to $5.28. Altos Venture reported a 32.5% stake in the company as of September 24 in a 13D filing on Thursday.

Rocket Lab USA, Inc. ( RKLB ) shares were also up, gaining 12% to $9.75 after Keybanc raised its price target on the stock from $8 to $11.

Equities Trading DOWN

Seelos Therapeutics, Inc ( SEEL ) shares dropped 19% to $4.07. Seelos announced postponement of its annual meeting of stockholders.

Shares of enVVeno Medical Corporation ( NVNO ) were down 25% to $4.07 after the company announced the pricing of a $15 million public offering of 4.3 million shares at $3.50 per share.

Acadia Healthcare Company, Inc. ( ACHC ) was down, falling 16% to $63.46 after the company issued a statement stating they are cooperating fully with the authorities regarding a government investigation.

Commodities

In commodity news, oil traded up 0.8% to $68.18 while gold traded down 0.9% at $2,670.50.

Silver traded down 1.4% to $31.88 on Friday, while copper fell 1% to $4.5930.

Euro zone

European shares closed higher today. The eurozone's STOXX 600 gained 0.47%, Germany's DAX climbed 1.22% and France's CAC 40 jumped 0.64%. Spain's IBEX 35 Index rose 0.12%, while London's FTSE 100 rose 0.43%.

The industry confidence indicator in Spain climbed by 2.8 points from the prior month to a reading of -0.7 in September. Industrial producer prices in Italy declined by 0.8% year-over-year in August.

The economic sentiment indicator in the Eurozone slipped to 96.2 in September from 96.5 in August, while services sentiment indicator climbed to a four-month high level of 6.7 in September. The consumer confidence indicator in the Eurozone gained by 0.5 points to -12.9 in September.

Asia Pacific Markets

Asian markets closed mostly higher on Friday, with Japan's Nikkei 225 jumping 2.32%, Hong Kong's Hang Seng Index jumping 3.55%, China's Shanghai Composite Index gaining 2.88% and India's BSE Sensex falling 0.31%.

Hong Kong’s trade deficit widened to $33.1 billion in August versus $25.6 billion in the year-ago month. The People’s Bank of China slashed the reserve requirement ratio for banks by 50bps.

Economics

U.S. wholesale inventories increased 0.2% month-over-month to $905.7 billion in August compared to a revised 0.2% rise in the prior month.

The U.S. trade deficit in goods narrowed to $94.3 billion in August versus a revised $102.8 billion gap in the previous month.

U.S. personal income rose by 0.2% from the prior month to $24.015 trillion in August compared to a 0.3% gain in the previous month.

Personal spending rose by 0.2% month-over-month in August.

The US core PCE price index increased by 0.1% from the prior month in August compared to market estimates of a 0.2% increase and versus the 0.2% gain in the previous month.

The total number of active U.S. oil rigs fell by four to 484 rigs this week, Baker Hughes Inc reported.

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