U.S. stocks traded higher this morning, with Dow Jones gaining more than 400 points on Friday.
Following the market opening Friday, the Dow traded up 1.24% to 33,473.13 while the NASDAQ rose 0.62% to 13,182.43. The S&P 500, also rose, gaining, 0.86% to 4,257.29.
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- Materials shares rose by 2.5% on Friday. Meanwhile, top gainers in the sector included The Chemours Company CC, up 19%, and Glatfelter Corporation GLT, up 12%.
- In trading on Friday, utilities shares fell 0.2%.
Top Headline
The US economy added 339,000 jobs in May, significantly higher than market estimates of 190,000. The unemployment rate, however, increased to 3.7% in May.
- U Power Limited UCAR shares shot up 58% to $11.96. U Power shares jumped 144% on Thursday after the company announced it entered into a framework strategic cooperation agreement with Quantum Solutions Co in Japan.
- Shares of MongoDB, Inc. MDB got a boost, shooting 31% to $384.19 after the company reported upbeat results for its first quarter and issued strong projections.
- Digital Ally, Inc. DGLY shares were also up, gaining 21% to $4.8049 after the company announced its subsidiary, Kustom Entertainment, entered into a business combination agreement with Clover Leaf Capital Corp.
- SentinelOne, Inc. S shares dropped 35% to $13.54 after the company reported worse-than-expected first-quarter sales and issued weak second-quarter guidance.
- Shares of PagerDuty, Inc. PD were down 15% to $23.55 after the company issued weak revenue guidance.
- SunCar Technology Group Inc. SDA was down, falling 18% to $35.66.
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Commodities
In commodity news, oil traded up 2.8% to $72.08 while gold traded down 0.7% at $1,980.70.
Silver traded down 0.8% to $23.805 on Friday while copper rose 0.8% to $3.7390.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 1.3%, London’s FTSE 100 rose 1.4% while Spain’s IBEX 35 Index rose 1.3% The German DAX gained 1% French CAC 40 rose 1.7% and Italy’s FTSE MIB Index climbed 1.4%.
Industrial production in France increased by 0.8% month-over-month in April versus a 1.1% drop in the prior month, and compared to market estimates of a 0.3% gain.
Asia Pacific Markets
Asian markets closed higher on Friday, with Japan’s Nikkei 225 gaining 1.21%, Hong Kong’s Hang Seng Index jumping 4.02% and China’s Shanghai Composite Index rising 0.79%. India’s S&P BSE Sensex rose 0.2%.
The value of new home loans in Australia fell by 3.8% month-over-month to A$15.40 billion during the month of April.
Economics
The US economy added 339,000 jobs in May, significantly higher than market estimates of 190,000. The unemployment rate, however, increased to 3.7% in May.
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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 107,123,540 cases with around 1,165,530 deaths. India confirmed a total of at least 44,990,870 cases and 531,870 deaths, while France reported over 40,090,330 COVID-19 cases with 167,310 deaths. In total, there were at least 689,748,740 cases of COVID-19 worldwide with more than 6,885,490 deaths.
Image and article originally from www.benzinga.com. Read the original article here.