U.S. stocks traded higher midway through trading, after recording gains in the previous session.
The Dow traded up 0.22% to 32,600.48 while the NASDAQ rose 0.74% to 12,252.37. The S&P also rose, gaining, 0.61% to 4,097.16.
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Leading and Lagging Sectors
Energy shares rose 3.9% on Friday. Meanwhile, top gainers in the sector included U.S. Silica Holdings, Inc. (NYSE:SLCA), up 21% and Mammoth Energy Services, Inc. (NASDAQ:TUSK) up 21%.
In trading on Friday, consumer staples shares fell 1.1%.
Top Headline
Amazon.com, Inc. (NASDAQ:AMZN) reported better-than-expected results for its second quarter. The company said it expects-third quarter net sales to be in a range of $125 billion to $130 billion, up 13% to 17% year-over-year.
Equities Trading UP
Getty Images Holdings, Inc. (NYSE:GETY) shares shot up 141% to $25.29 after nearly 99.4% of shares were redeemed by CCNB shareholders.
Shares of ToughBuilt Industries, Inc. (NASDAQ:TBLT) got a boost, shooting 29% to $7.57. The company entered into an agreement with Ace Hardware USA to sell 35 products across 5,500 stores.
AXT, Inc. (NASDAQ:AXTI) shares were also up, gaining 22% to $8.60 after the company reported better-than-expected Q2 EPS.
Equities Trading DOWN
Avaya Holdings Corp. (NASDAQ:AVYA) shares tumbled 52% to $1.0088 after the company cut Q3 revenue guidance. Craig-Hallum downgraded Avaya from Buy to Hold.
Shares of Holley Inc. (NYSE:HLLY) were down 34% to $8.31 after the company lowered its FY22 sales guidance below analyst estimates.
Lottery.com Inc. (NASDAQ:LTRY) was down, falling 59% to $0.3372 after the company in an SEC filing said its board determined it does not have sufficient financial resources to fund operations.
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Commodities
In commodity news, oil traded up 5.2% to $101.43, while gold traded up 0.7% to $1,780.80.
Silver traded up 1.6% to $20.185 on Friday while copper rose 2.3% to $3.5555.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 1.24%, London’s FTSE 100 rose 0.97% while Spain’s IBEX 35 Index rose 0.85%. The German DAX gained 1.36%, French CAC 40 rose 1.71% and Italy’s FTSE MIB Index gained 2.11%.
The Eurozone economy grew 0.7% on quarter during the three months to June, compared to a revised 0.5% expansion in the first quarter, while annual inflation rate in the Eurozone accelerated to a fresh record high of 8.9% in July from 8.6% in June.
The unemployment rate in Germany rose to a nine-month high of 5.4% in July, while the country’s economy stalled in the second quarter. Italy’s gross domestic product grew by 1% quarter-on-quarter during the three months to June. The annual inflation rate in Italy fell to 7.9% in July from the 36-year high level of 8% recorded in the prior month.
The annual inflation rate in Spain increased to 10.8% in July, while gross domestic product expanded by 1.1% on the quarter during the three months to June. Annual inflation rate in France accelerated to 6.1% in July. The France’s economy expanded 0.5% on quarter in Q2.
Economics
The personal consumption expenditure price index rose 1% month-over-month in June, recording the largest growth since September 2005. Personal spending increased 1.1% from a month ago in June.
The employment cost index rose 1.3% for the second quarter.
The Chicago PMI fell to 51.1 points in July from 56.0 points in June.
The University of Michigan consumer sentiment climbed to 51.5 in July from a record low level of 50 in June.
The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
Data on farm prices for June will be released at 3:00 p.m. ET.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 92,917,650 cases with around 1,054,420 deaths. India confirmed a total of at least 43,979,730 cases and 526,250 deaths, while Brazil reported over 33,752,370 COVID-19 cases with 678,150 deaths. In total, there were at least 579,939,780 cases of COVID-19 worldwide with more than 6,415,210 deaths.
