Gold Falls 1%; MongoDB Shares Spike Higher

Author: Avi Kapoor | August 30, 2024 02:30pm

U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining around 0.2% on Friday.

The Dow traded down 0.11% to 41,291.08 while the NASDAQ rose 0.28% to 17,565.84. The S&P 500 also rose, gaining, 0.20% to 5,603.06.

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Leading and Lagging Sectors

Consumer discretionary shares climbed by 0.9% on Thursday.

In trading on Thursday, energy shares fell by 0.5%.

Top Headline

The total number of active U.S. oil rigs came in unchanged at 483 rigs this week, Baker Hughes Inc reported.

Equities Trading UP
                       

• Brenmiller Energy Ltd (NASDAQ:BNRG) shares shot up 166% to $1.79 after the company reported a year-over-year increase in H1 EPS results. Also, the company announced a projected pipeline valued up to $500 million.
• Shares of Focus Universal Inc. (NASDAQ:FCUV) got a boost, surging 61% to $0.3067 after the company in a Form4 filing disclosed that CEO Desheng Wang bought 302,100 shares of stock at an average price of $0.18 per share.
• MongoDB, Inc. (NASDAQ:MDB) shares were also up, gaining 17% to $286.58 after the company reported better-than-expected second-quarter financial results and issued strong guidance on Thursday.

Equities Trading DOWN

• Paltalk, Inc. (NASDAQ:PALT) shares dropped 37% to $3.4501 after the company was awarded $65.7 million in District Court verdict against Cisco, which remains subject to post-trial proceedings.
• Shares of Catheter Precision, Inc. (NYSE:VTAK) were down 54% to $0.6250 after the company announced the pricing of $3.1 million underwritten public offering.
• Elastic N.V. (NYSE:ESTC) was down, falling 27% to $75.28 after the company reported first-quarter financial results and issued second-quarter revenue guidance below estimates.

Commodities

In commodity news, oil traded down 2.9% to $73.74 while gold traded down 1.1% at $2,532.10.

Silver traded down 2.6% to $29.21 on Friday, while copper fell 0.1% to $4.2165.

Euro zone

European shares closed mixed today. The eurozone's STOXX 600 gained 0.09%, Germany's DAX fell 0.03% and France's CAC 40 fell 0.13%. Spain's IBEX 35 Index rose 0.38%, while London's FTSE 100 fell 0.04%.

The unemployment rate in the Eurozone eased to its record low of 6.4% in July from 6.5% in the previous month, while annual inflation rate declined to 2.2% in August from 2.6% in the prior month.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan's Nikkei 225 gaining 0.74%, Hong Kong's Hang Seng Index gaining 1.14%, China's Shanghai Composite Index gaining 0.68% and India's BSE Sensex rising 0.28%.

The Indian economy grew by 6.7% from the prior year in the June quarter compared to a 7.8% increase in the prior period. Retail sales in Hong Kong declined 13.3% year-over-year in July.

Economics

• U.S. personal income increased by 0.3% from the prior month to $24.015 trillion in July, while personal spending rose 0.5% from the prior month.
• The US core PCE price index increased by 0.2% from the earlier month in July, in line with market estimates and following a 0.2% rise in June.
• The University of Michigan consumer sentiment was revised higher to 67.9 in August versus a preliminary level of 67.8.
• The Chicago PMI climbed to 46.1 in August from 45.3 in the previous month and beating market expectations of 45.5.
• The total number of active U.S. oil rigs came in unchanged at 483 rigs this week, Baker Hughes Inc reported.

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Posted In: BNRG ESTC FCUV MDB PALT VTAK