U.S. stocks closed higher on Friday, marking a positive end to the trading week. The Dow Jones Industrial Average led the way, gaining over 100 points, a 0.27% increase, to close at 40,673.09. The NASDAQ Composite Index rose 0.22% to 17,633.18, while the S&P 500 also climbed, gaining 0.18% to 5,553.08.
The financial sector performed well, with shares climbing 0.6% on Thursday. However, real estate shares experienced a decline, falling by 0.4%.
In the energy sector, the number of active U.S. oil rigs decreased by 2 this week, reaching 483 rigs, according to Baker Hughes Inc. This indicates a potential shift in oil production activity.
Several individual stocks saw significant movements. Cingulate Inc. (CING) shares surged 301% to $19.23 after the company received a European patent for its lead asset for treating ADHD. Zoomcar Holdings, Inc. (ZCAR) stock jumped 48% to $0.1639 following the release of positive first-quarter results. H&R Block, Inc. (HRB) shares also rose, gaining 14% to $65.44, driven by better-than-expected fourth-quarter financial results and strong FY25 guidance.
On the other hand, several stocks experienced declines. Sonida Senior Living, Inc. (SNDA) shares dropped 17% to $26.58 after announcing an upsized public offering. Shimmick Corporation (SHIM) stock fell 20% to $2.62 due to disappointing quarterly financial results. ENDRA Life Sciences Inc. (NDRA) shares also declined, dropping 20% to $0.0416, following the announcement of a 1-for-50 reverse stock split.
In commodity markets, oil prices fell 2.1% to $76.56, while gold prices rose 1.7% to $2,535.10. Silver prices climbed 1.4% to $28.81, while copper prices decreased by 0.1% to $4.1495.
Looking across the Atlantic, European shares ended the day mostly higher. The eurozone’s STOXX 600 index rose 0.31%, Germany’s DAX gained 0.77%, and France’s CAC 40 increased by 0.35%. Spain’s IBEX 35 Index rose 0.59%, while London’s FTSE 100 fell 0.43%. The Eurozone reported a trade surplus of EUR 22.3 billion in June, exceeding market expectations. Retail sales in the UK showed a month-over-month increase of 0.5% in July, recovering from a decline in the previous month.
In Asia, markets closed higher on Friday. Japan’s Nikkei 225 soared 3.64%, Hong Kong’s Hang Seng Index climbed 1.88%, China’s Shanghai Composite Index rose 0.07%, and India’s BSE Sensex gained 1.68%. Hong Kong’s economy saw growth of 3.3% year-over-year in the second quarter, while the unemployment rate remained unchanged at 3% in the three months ending July.
U.S. economic indicators showed a decline in housing starts, which fell by 6.8% to an annualized rate of 1.238 million in July. Building permits also dropped by 4% to an annual rate of 1.396 million in July. However, consumer sentiment improved, with the University of Michigan consumer sentiment index climbing to 67.8 in August, exceeding market estimates.
