U.S. stocks traded mixed midway through trading, with the Dow Jones surging more than 200 points on Friday.
The Dow traded up 0.71% to 34,828.25 while the NASDAQ fell 0.60% to 13,812.73. The S&P also rose, gaining, 0.19% to 4,508.98.
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Leading and Lagging Sectors
Energy shares jumped by 2.5% on Friday. Meanwhile, top gainers in the sector included Borr Drilling Limited (NYSE:BORR), up 12% and Frontline Ltd. (NYSE:FRO) up 11%.
In trading on Friday, information technology shares fell 0.6%.
Top Headline
US wholesale inventories rose 2.5% in February, versus analysts' expectations for a 2.1% increase.
Equities Trading UP
Lyra Therapeutics, Inc. (NASDAQ:LYRA) shares shot up 33% to $5.75 as the company reported a private placement for gross proceeds of $110.5 million.
Shares of TSR, Inc. (NASDAQ:TSRI) got a boost, shooting 25% to $14.19.
Aterian, Inc. (NASDAQ:ATER) shares were also up, gaining 11% to $4.2804 amid retail investor interest on social media.
Equities Trading DOWN
BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) shares tumbled 34% to $11.77 after the company paused enrollment in BCX9930 clinical trials.
Shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) were down 30% to $6.80 after the company announced a common stock offering of approximately 7.207 million shares.
LXP Industrial Trust (NYSE:LXP) was down, falling 14% to $13.47 after the company announced it has determined to suspend its previously announced evaluation of strategic alternatives.
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Commodities
In commodity news, oil traded up 0.6% to $96.58, while gold traded up 0.5% to $1,946.70.
Silver traded up 0.3% Friday to $24.82 while copper rose 0.6% to $4.7275.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 1.31%, London’s FTSE 100 rose 1.56%, while Spain’s IBEX 35 Index rose 1.64%. The German DAX gained 1.46%, French CAC 40 rose 1.34% and Italy’s FTSE MIB Index climbed 2.13%.
Industrial production in Spain climbed 3% year-over-year in February.
Economics
US wholesale inventories rose 2.5% in February, versus analysts' expectations for a 2.1% increase.
The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 81,988,270 cases with around 1,011,090 deaths. India confirmed a total of at least 43,033,060 cases and 521,600 deaths, while Brazil reported over 30,094,380 COVID-19 cases with 661,030 deaths. In total, there were at least 496,735,870 cases of COVID-19 worldwide with more than 6,196,240 deaths.
