Crude Oil Down 1%; US Retail Sales Rise 0.5% In July

Benzinga
Aug 16

U.S. stocks traded mixed midway through trading, with the S&P 500 falling around 0.3% on Friday.

Following the market opening Friday, the Dow traded up 0.25% to 45,023.91 while the NASDAQ fell 0.52% to 21,598.78. The S&P 500 also fell, dropping, 0.28% to 6,450.16.

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Leading and Lagging SectorsCommunication services shares jumped by 1.1% on Friday.

In trading on Friday, utilities stocks fell by 0.8%.

Top Headline

U.S. retail sales rose 0.5% month-over-month in July, in line with market estimates and compared to a revised 0.9% gain in June.

Equities Trading UP           

  • Perfect Moment Ltd. (NYSE:PMNT) shares shot up 98% to $0.5762 after the company reported quarterly financial results.
  • Shares of Precigen, Inc. (NASDAQ:PGEN) got a boost, surging 58% to $2.92 after the company announced the FDA has approved PAPZIMEOS. HC Wainwright & Co. raised its price target on the stock from 6 to $8.5.
  • Pioneer Power Solutions, Inc. (NASDAQ:PPSI) shares were also up, gaining 50% to $4.68 after the company reported a second-quarter EPS beat and issued FY25 sales guidance with its midpoint above estimates.

Equities Trading DOWN

  • Nutex Health Inc. (NASDAQ:NUTX) shares dropped 17% to $91.98 after the company reported preliminary second quarter financial results, announced a delay in filing its second quarter financial statements and announced a stock repurchase program of up to $25 million.
  • Shares of Gambling.com Group Limited (NASDAQ:GAMB) were down 16% to $8.67 following the release of its second-quarter financial results. Additionally, BTIG and Stifel cut their respective price targets on the stock.
  • Vision Marine Technologies Inc. (NASDAQ:VMAR) was down, falling 30% to $1.99 after the company announced the pricing of public offering. The company also announced the New York State County Supreme Court has formally approved its settlement regarding a legal claim related to certain shareholders.

CommoditiesIn commodity news, oil traded down 1% to $63.31 while gold traded up 0.1% at $3,385.90.

Silver traded down 0.4% to $37.91 on Friday, while copper rose 0.4% to $4.4965.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 fell 0.05%, while Spain's IBEX 35 Index rose 0.35%. London's FTSE 100 fell 0.42%, Germany's DAX 40 declined 0.10% and France's CAC 40 rose 0.62% during the session.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 1.71%, Hong Kong's Hang Seng falling 0.98% and China's Shanghai Composite gaining 0.83%.

Economics

  • U.S. industrial production fell 0.1% in July compared to a revised 0.4% rise in June.
  • The New York Empire State Manufacturing Index jumped to 11.9 in August, recording the highest level since Nov. 2024.
  • Export prices in the U.S. increased 0.1% month-over-month in July, while import prices rose by 0.4% from the previous month in July.
  • U.S. retail sales rose 0.5% month-over-month in July, in line with market estimates and compared to a revised 0.9% gain in June.
  • U.S. business inventories rose 0.2% month-over-month in June following a flat reading in the previous month.
  • The University of Michigan consumer sentiment fell to 58.6 in August from 61.7 in the previous month and versus market expectations of 62.

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