Gold Down Over 1%; Micron Technology Shares Fall After Q2 Earnings

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling around 0.1% on Friday.

The Dow traded down 0.20% to 41,868.48 while the NASDAQ dipped 0.06% to 17,681.21. The S&P 500 also fell, dropping, 0.28% to 5,647.20.

Check This Out: How To Earn $500 A Month From KB Home Stock Ahead Of Q1 Earnings

Leading and Lagging Sectors

Communication services shares rose by 0.3% on Friday.

In trading on Friday, materials shares dipped by 1.8%.

Top Headline

Shares of Micron Technology Inc MU fell more than 6% on Friday after the company reported second-quarter financial results.

Micron reported second-quarter revenue of $8.05 billion, beating the consensus estimate of $7.89 billion. Total revenue was up from $5.82 billion on a year-over-year basis. The company reported second-quarter adjusted earnings of $1.56 per share, beating analyst estimates of $1.42 per share, according to Benzinga Pro.

Equities Trading UP
                       

• Ouster, Inc. OUST shares shot up 25% to $10.51 after the company reported better-than-expected quarterly financial results.
• Shares of Scholastic Corporation SCHLgot a boost, surging 15% to $21.66 following upbeat quarterly earnings.
• Allurion Technologies Inc. ALUR shares were also up, gaining 39% to $3.1593 after the company announced results from its allurion program and low-dose GLP-1 therapy combination.

Equities Trading DOWN

• Damon Inc. DMN shares dropped 70% to $0.0376 after the company announced a $16.5 million public offering.
• Shares of Planet Labs PBC PL were down 19% to $3.4350 after the company reported worse-than-expected fourth-quarter financial results.
• TELA Bio, Inc. TELA was down, falling 35% to $1.51 after the company reported worse-than-expected quarterly financial results. Additionally, Piper Sandler downgraded the stock from Overweight to Neutral and cut its price target from $5 to $2.

Commodities

In commodity news, oil traded down 0.2% to $67.94 while gold traded down 1.1% at $3,011.10.

Silver traded down 1.7% to $33.400 on Friday, while copper fell 1.2% to $5.0525.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.98%, Germany’s DAX 40 fell 1.15% and France’s CAC 40 fell 1.01%. Spain’s IBEX 35 Index rose 0.05%, while London’s FTSE 100 slipped 0.95%.

Asia Pacific Markets

Asian markets closed mostly lower on Friday, with Japan’s Nikkei 225 falling 0.20%, China’s Shanghai Composite Index falling 1.29%, Hong Kong’s Hang Seng Index dipped 2.19% and India’s BSE Sensex gaining 0.73%.

Economics

The Baker Hughes oil rig count report will be released today.

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