U.S. stocks traded higher this morning, with the Dow Jones gaining more than 100 points on Friday.
The Dow traded up 0.38% to 30,893.82 while the NASDAQ rose 0.50% to 11,084.33. The S&P also rose, gaining, 0.46% to 3,802.86.
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Leading and Lagging Sectors
Consumer discretionary shares rose by 1.7% on Friday. Meanwhile, top gainers in the sector included Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE), up 16% and LightInTheBox Holding Co., Ltd. (NYSE:LITB) up 10%.
In trading on Friday, materials shares fell by 0.4%.
Top Headline
The ISM manufacturing index fell to 53 for June from 56.1 in May. Analysts, however, were expecting a reading of 54.9.
Equities Trading UP
VerifyMe, Inc. (NASDAQ:VRME) shares shot up 33% to $2.61 after the company announced liquidation of the G3 VRM Acquisition SPAC and initiated a new share repurchase program.
Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) got a boost, shooting 27% to $0.45 after the company executed an agreement to terminate its vadadustat Collaboration and License Agreements with Otsuka Pharmaceutical. The company will received a $55 million settlement fee.
Lytus Technologies Holdings PTV. Ltd. (NASDAQ:LYT) shares were also up, gaining 19% to $4.96. Lytus recently announced the closing of initial public offering.
Equities Trading DOWN
Kohl's Corporation (NYSE:KSS) shares tumbled 19% to $28.91 after the company called off discussions to sell its business to Franchise Group Inc.
Shares of Borr Drilling Limited (NYSE:BORR) were down 17% to $3.8450.
Celldex Therapeutics, Inc. (NASDAQ:CLDX) was down, falling 13% to $23.55 after reporting interim data from the Company’s ongoing Phase 1b clinical trial of barzolvolimab in patients with moderate to severe chronic spontaneous urticaria refractory to antihistamines.
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Commodities
In commodity news, oil traded up 2% to $107.90, while gold traded down 0.9% to $1,791.70.
Silver traded down 4.4% to $19.46 on Friday while copper fell 3.2% to $3.5920.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.1%, London’s FTSE 100 rose 0.3% while Spain’s IBEX 35 Index rose 0.7%. The German DAX gained 0.2%, French CAC 40 rose 0.5% and Italy’s FTSE MIB Index gained 0.5%.
The S&P Global manufacturing PMI for France declined to 51.4 in June from 54.6 in the previous month, while UK manufacturing PMI dropped to a two-year low of 52.8 in June. The S&P Global Eurozone manufacturing PMI declined to 52.1 in June from 54.6 in the previous month, while Italian manufacturing PMI declined to 50.9 from 50.1.
The S&P Global/BME manufacturing PMI for Germany dropped to 52 in June from 54.8 a month ago, while Spanish manufacturing PMI dipped to 52.6 from 53.8.
Economics
The S&P Global manufacturing PMI was revised higher to 52.7 in June from a preliminary reading of 52.4.
The ISM manufacturing index fell to 53 for June from 56.1 in May. Analysts, however, were expecting a reading of 54.9.
US construction spending fell 0.1% for May, compared to analysts’ expectations for a 0.4% increase.
The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 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 89,360,080 cases with around 1,042,670 deaths. India confirmed a total of at least 43,471,280 cases and 525,130 deaths, while Brazil reported over 32,358,450 COVID-19 cases with 671,460 deaths. In total, there were at least 552,796,530 cases of COVID-19 worldwide with more than 6,358,270 deaths.
