U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 300 points on Friday.
The Dow traded down 0.78% to 40,347.51 while the NASDAQ fell 0.29% to 17,819.43. The S&P 500 also fell, dropping, 0.29% to 5,528.67.
Leading and Lagging Sectors
Communication services shares jumped by 0.7% on Thursday.
In trading on Thursday, materials shares fell by 1%.
Top Headline
Schlumberger N.V. (NYSE:SLB) reported better-than-expected second-quarter results.
The company said revenue increased 13% year-over-year to $9.139 billion, beating the consensus of $9.076 billion. Adjusted EPS increased 18% Y/Y to 85 cents, above the consensus of 83 cents.
Equities Trading UP
- Augmedix, Inc. (NASDAQ:AUGX) shares shot up 148% to $2.27 after the company announced it will be acquired by Commure.
- Shares of 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) got a boost, surging 67% to $0.41 after the company signed clinical trial agreements with three planned trial sites for the Tafenoquine Babesiosis study.
- Hawaiian Electric Industries, Inc. (NYSE:HE) shares were also up, gaining 32% to $16.80 following a report suggesting the company reached a settlement plan over the Maui wildfires.
Equities Trading DOWN
- Silo Pharma Inc (NASDAQ:SILO) shares dropped 29% to $2.46 as the company announced a $2.1 million registered direct offering priced at-the-market under Nasdaq rules.
- Shares of Hyzon Motors Inc. (NASDAQ:HYZN) were down 47% to $0.15 after the company reported pricing of $4.5 million registered direct offering.
- Nauticus Robotics, Inc. (NASDAQ:KITT) was down, falling 29% to $0.0912 after the company announced a 1-for-36 reverse stock split.
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Commodities
In commodity news, oil traded down 0.4% to $82.50 while gold traded down 2.2% at $2,402.90.
Silver traded down 2.8% to $29.365 on Friday, while copper fell 0.5% to $4.2595.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.65%, Germany's DAX fell 0.80% and France's CAC 40 fell 0.57%. Spain's IBEX 35 Index fell 0.48%, while London's FTSE 100 fell 0.53%.
Construction output in the Eurozone fell 2.4% year-over-year in May compared to a revised 1.5% decline in the prior month. Passenger car registrations in the European Union climbed 4.3% year-over-year to 1.1 million units in June.
Regular pay in the U.K., excluding bonus payment, rose 5.7% year-over-year to GBP 643/week during the three months to May, while the unemployment rate came in unchanged at 4.4% from March to May.
Asia Pacific Markets
Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 falling 0.16%, Hong Kong's Hang Seng Index dipping 2.03%, China's Shanghai Composite Index gaining 0.17% and India's S&P BSE Sensex declining 0.91%.
Hong Kong's unemployment rate came in unchanged at 3% during the three months ending June. Japan reported a trade surplus of JPY 224.04 billion in June, compared to market views for a deficit of JPY 240 billion.
Economics
The Baker Hughes rig count report for the latest week will be released at 1:00 p.m. ET.
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