US stock markets displayed mixed sentiment on Friday, with the technology-heavy Nasdaq Composite falling by over 0.2%, while the Dow Jones Industrial Average managed a slight gain of 0.09%, closing at 42,064.34. The broad-based S&P 500 also dipped, declining by 0.22% to 5,701.29.
One notable highlight was Lennar Corporation (LEN), a homebuilder, which reported better-than-expected financial results for the third quarter on Thursday. The company expressed optimism about its fourth-quarter performance, projecting new orders between 19,000 and 19,300 and deliveries ranging from 22,500 to 23,000. Lennar expects the average sales price to hover around $425,000.
Several companies experienced significant stock price fluctuations. Banzai International, Inc. (BNZI) shares skyrocketed 131% to $6.62 after the company announced a 1-for-50 reverse stock split. Battalion Oil Corporation (BATL) shares surged 120% to $6.48 following the company’s announcement of an amended merger agreement with Fury Resources. Constellation Energy Corporation (CEG) saw its stock rise by 13% to $235.54 after signing a 20-year power purchase agreement with Microsoft for a new clean energy center.
On the downside, Corbus Pharmaceuticals Holdings, Inc. (CRBP) shares plummeted 59% to $21.12. Sable Offshore Corp. (SOC) shares dropped 19% to $22.79 after announcing a $150 million private placement of shares. FedEx Corporation (FDX) stock fell 15% to $254.45 as the company reported weaker-than-expected first-quarter results and lowered its full-year guidance.
In commodity markets, oil prices edged up 0.1% to $72.03, while gold rose 1.3% to $2,649.40. Silver also saw a slight increase, rising 0.1% to $31.455, while copper prices dipped 0.4% to $4.33.
European markets were down across the board on Friday. The eurozone’s STOXX 600 index fell 1.34%, Germany’s DAX declined 1.43%, and France’s CAC 40 dropped 1.38%. Spain’s IBEX 35 Index edged down 0.03%, while London’s FTSE 100 fell 1.09%. Economic indicators in the region showed mixed results. Spain’s trade deficit narrowed in July, France’s manufacturing climate indicator slightly dipped, and the UK saw an increase in retail sales in August. Germany’s producer prices fell year-over-year in August.
Asian markets closed higher on Friday. Japan’s Nikkei 225 index gained 1.53%, Hong Kong’s Hang Seng Index surged 1.36%, China’s Shanghai Composite Index increased 0.03%, and India’s BSE Sensex climbed 1.63%. India’s foreign exchange reserves climbed to $689.5 billion as of September 13. Hong Kong’s annual inflation rate remained flat at 2.5% in August, while the country’s current account surplus increased in the second quarter. The Bank of Japan kept its key interest rate unchanged at 0.25% during its recent meeting.
The Baker Hughes rig-count report for the latest week is scheduled to be released at 1:00 p.m. ET.
