U.S. stocks traded higher this morning, following the release of several earnings results and economic reports.
Following the market opening Friday, the Dow traded up 1.39% to 31,054.43 while the NASDAQ rose 0.89% to 11,351.81. The S&P also rose, gaining, 1.17% to 3,834.60.
Also check this: Why Cannabis Companies Traded Higher; Here's 60 Biggest Movers From Yesterday
Leading and Lagging Sectors
Financial shares rose 2% on Friday. Meanwhile, top gainers in the sector included Citigroup Inc. (NYSE:C), up 8% and Wells Fargo & Company (NYSE:WFC) up 6%.
In trading on Friday, utilities shares dipped by 0.8%.
Top Headline
US retail sales rose 1% month-over-month in June, exceeding market estimates of a 0.8% gain, and following a revised 0.1% decline in May.
Equities Trading UP
United Maritime Corporation (NASDAQ:USEA) shares shot up 134% to $5.16. United Maritime, on Tuesday, announced acquisition of four oil tankers and filed for stock offering on Wednesday.
Shares of ToughBuilt Industries, Inc. (NASDAQ:TBLT) got a boost, shooting 23% to $2.95 after gaining 10% on Thursday. ToughBuilt Industries recently announced its Q2 gross sales through Amazon were $3.56 million, representing a 20% year-over-year increase.
Vertical Aerospace Ltd. (NYSE:EVTL) shares were also up, gaining 13% to $3.29 after the company announced FLYINGGROUP has conditionally pre-ordered up to 50 VX4 aircrafts.
Equities Trading DOWN
Codexis, Inc. (NASDAQ:CDXS) shares tumbled 47% to $6.34 after the company issued Q2 and FY22 sales guidance below analyst estimates.
Shares of Harsco Corporation (NYSE:HSC) were down 21% to $4.61 after the company updated its expected financial results for Q2 and FY22 outlook. The company expects Q2 U.S. GAAP operating loss from continuing operations of $(95) million - $(97) million (prior view for income of $17 million - $22 million).
10x Genomics, Inc. (NASDAQ:TXG) was down, falling 22% to $33.85 after the company issued Q2 sales guidance below estimates.
Also check out: Bitcoin Holds Above $20,000, Here's The Top Crypto Movers For Friday
Commodities
In commodity news, oil traded up 2% to $97.73, while gold traded down 0.1% to $1,703.80.
Silver traded up 1% to $18.41 on Friday while copper fell 0.9% to $3.1840.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 climbed 1.1%, London’s FTSE 100 rose 1.1% while Spain’s IBEX 35 Index rose 1.1%. The German DAX gained 1.75%, French CAC 40 rose 1% and Italy’s FTSE MIB Index gained 1.1%.
The Eurozone reported a trade gap of EUR 26.3 in May, versus a year-ago surplus of EUR 12.0 billion. Passenger car registrations in the European Union dipped 15.4% year-over-year to 886,510 units in June. The annual inflation rate in Italy climbed 8% year-over-year in June, the highest since January 1986.
Economics
US retail sales rose 1% month-over-month in June, exceeding market estimates of a 0.8% gain, and following a revised 0.1% decline in May.
The New York Empire State Manufacturing Index climbed to 11.1 in July from -1.2 in the previous month.
Import prices in the US rose 0.2% from a month ago in June, while export prices rose by 0.7%.
Industrial production fell 0.2% from a month ago in June, missing market estimates of a 0.1% increase.
US business inventories increased 1.4% from a month ago in May.
The University of Michigan consumer sentiment index rose to 51.1 in July versus 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.
Check out this: Markets In Extreme Fear After Big Banks Disappoint On Earnings
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 91,060,220 cases with around 1,048,230 deaths. India confirmed a total of at least 43,710,020 cases and 525,600 deaths, while Brazil reported over 33,142,150 COVID-19 cases with 674,840 deaths. In total, there were at least 565,639,980 cases of COVID-19 worldwide with more than 6,382,680 deaths.
