The Dow increased 1.27 percent to 34,858.10 at the close of business on Friday, while the NASDAQ gained 0.91 percent to 14,691.88. The S&P 500 increased 1.06 percent to 4,366.41.
The United States has the largest number of coronavirus cases and deaths in the world, with 33,792,440 cases and 606,480 deaths reported. In India, there were at least 30,752,950 cases confirmed, with 405,930 deaths, whereas in Brazil, there were over 18,962,760 COVID-19 cases verified, with 530,170 deaths. According to data provided by Johns Hopkins University, there were at least 185,650,020 cases of COVID-19 worldwide, with more than 4,012,450 deaths.
Sectors that are leading and those that are lagging
On Friday, financial stocks gained 2.7 percent. Meanwhile, The Bancorp, Inc. (NASDAQ: TBBK) and Live Oak Bancshares, Inc. (NASDAQ: LOB) were among the sector’s top gainers, both up 7%.
Utilities stocks declined 0.1 percent in Friday’s session.
Headline 1:
AZZ Inc (NYSE: AZZ) announced better-than-expected first-quarter earnings and increased its profit outlook for FY22.
AZZ reported $0.88 per share in quarterly earnings, beating analysts’ expectations of $0.62 per share. The company’s quarterly revenues were $229.80 million, compared to $223.69 million expected.
AZZ increased their FY22 earnings per share guidance from $2.45 to $2.95 to $2.65 to $3.05. The business now forecasts $855 million to $935 million in sales in FY22, up from an earlier prediction of $835 million to $935 million.
Equities are rising in value.
ToughBuilt Industries, Inc. (NASDAQ: TBLT) stock jumped 46 percent to $1.0506 after the firm reported $5.48 million in 1H sales through Amazon, up 118 percent year over year.
Stamps.com Inc. (NASDAQ: STMP) had its stock rise by 64 percent to $323.43. Thoma Bravo, a software investment group, has agreed to buy e-commerce shipping solutions business Stamps.com in an all-cash deal worth $6.6 billion.
Galectin Therapeutics Inc. (NASDAQ: GALT) gained 27 percent to $3.5050 after the company released top-line clinical data from the extension cohort of the Phase 1b trial of Belapectin in combination with Merck & Co’s Keytruda (pembrolizumab) in patients with metastatic melanoma and head & neck cancer.
Take a look at today’s big movers.
Trading of Stocks DOWN
Universal Security Instruments, Inc. (NYSE: UUU) shares fell 22% to $7.02 after the company reported a fourth-quarter loss.
Sigilon Therapeutics, Inc. (NASDAQ: SGTX) shares were down 24% to $7.00. Sigilon Therapeutics’ Phase 1/2 research of SIG-001 in patients with severe or moderately severe hemophilia A has been placed on hold by the FDA.
After a 700 percent gain on Thursday, Moving iMage Technologies, Inc. (NYSE: MITQ) was down 29 percent to $16.95. Moving iMage Technologies priced its 4.2 million ordinary shares at $3 each in its first public offering.
Commodities
Oil rose 2.3 percent to $74.58, while gold rose 0.6 percent to $1,811.30 in commodity news.
Silver jumped 1.1 percent to $26.26 on Friday, while copper gained 1.8 percent to $4.3420.
The Eurozone
Today’s European stock market close was positive. The STOXX 600 index in the eurozone increased by 1.34 percent, while the Spanish Ibex Index increased by 1.46 percent and the German DAX 30 increased by 1.73 percent. Meanwhile, the FTSE 100 in London increased by 1.3 percent, the CAC 40 in France increased by 2.07 percent, and the FTSE MIB in Italy increased by 1.67 percent.
In May, construction output in the UK increased by 56.5 percent year on year, while industrial production increased by 0.8 percent month on month. In the three months leading up to May, the British economy grew by 3.6 percent. In May, Italian industrial production declined by 1.5 percent compared to the previous month.
Economics
In May, wholesale inventories in the United States increased 1.3 percent, compared to a revised 1.1 percent gain in April.
Baker Hughes Inc said that the total number of active U.S. oil rigs increased by two this week to 378.
The complete economic calendar can be seen here (C) 2021. Benzinga.com. Benzinga does not offer financial advice. All intellectual property rights are reserved./n
