U.S. stocks traded higher towards the end of trading, with the Nasdaq Composite gaining more than 1% on Friday.
The Dow traded up 0.23% to 39,084.47 while the NASDAQ rose 1.22% to 16,287.91. The S&P 500 also rose, gaining, 0.78% to 5,135.86.
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Market Movement
Energy shares saw a 1.4% increase on Friday, displaying resilience amidst market fluctuations.
Contrarily, utilities shares faced a decline of 1.3%, a testament to the inherent volatility in the market.
Headline News
The reported uptick in active U.S. oil rigs, a modest increase of 3 to 506 rigs this week as per Baker Hughes Inc, showcased the ever-evolving landscape of the energy sector.
Stocks on the Move
BioVie Inc. BIVI impressed investors, soaring by a remarkable 55% to reach $1.92 as it showcased potential breakthroughs in neurological disorders.
Shares of Cardiff Oncology, Inc. CRDF experienced a surge of 37% to $2.41, following positive financial results and significant clinical advancements.
The RealReal, Inc. REAL also witnessed notable growth, with shares spiking by 45% to $2.5610 after strong quarterly performance.
Stocks in Decline
Sidus Space, Inc. SIDU faced a notable setback, plummeting by 32% to $6.09 post a public offering announcement.
Shares of Fisker Inc. FSR tumbled drastically by 38% to $0.4499 following disappointing revenue figures and looming uncertainties about its financial continuity.
Scilex Holding Company SCLX also experienced a decline, falling by 38% to $1.4150 after unveiling a significant bought deal offering.
Commodity Update
In commodity news, crude oil prices surged by 2.3% to $80.09, marking a notable uptick in a volatile market environment. Gold, on the other hand, saw a 1.9% increase to reach $2,094.40.
Silver also witnessed a rise of 2% to $23.345, while copper showed a modest gain of 0.4% to $3.8605, underlining the mixed landscape in commodity trading.
Global Markets Overview
European markets showcased optimism, with various indices rising across the region. Notably, the Eurozone’s STOXX 600 displayed a 0.60% increase, reflecting positive investor sentiment.