Crude Oil Gains 1%; Apple Shares Tumble After Q3 Results

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining around 200 points on Friday.

The Dow traded up 0.38% to 52,406.69 while the NASDAQ rose 0.25% to 25,184.43. The S&P 500 also rose, gaining, 0.22% to 7,453.96.

Leading and Lagging Sectors

Consumer discretionary shares jumped by 5.6% on Friday.

In trading on Friday, materials stocks fell by 2.7%.

Top Headline

Shares of Apple Inc (NASDAQ:AAPL) fell more than 9% on Friday after the company posted results for the third quarter.

Apple posted fiscal third-quarter revenue of $109.42 billion, beating analyst estimates of $108.65 billion. The Cupertino-based company reported earnings of $2.02 per share for the quarter, beating estimates of $1.89 per share, according to Benzinga Pro.

Apple said it sees fourth-quarter sales of $111.688 billion to $113.737 billion, versus estimates of $114.840 billion.

Equities Trading UP
           

• Newell Brands Inc (NASDAQ:NWL) shares shot up 22% to $6.29 after the company reported better-than-expected second-quarter financial results and raised its FY26 guidance.
• Shares of AXT Inc (NASDAQ:AXTI) got a boost, surging 20% to $55.88 after the company reported better-than-expected second-quarter financial results and issued strong third-quarter guidance.
• Forum Energy Technologies Inc (NYSE:FET) shares were also up, gaining 20% to $61.43 after the company reported better-than-expected second-quarter financial results and raised its FY26 sales guidance above estimates.

Equities Trading DOWN

• Karyopharm Therapeutics Inc (NASDAQ:KPTI) shares dropped 68% to $2.27 after the company announced topline results from its Phase 3 XPORT-EC-042 trial did not meet its primary endpoint of progression free survival.
• Shares of Myriad Genetics Inc (NASDAQ:MYGN) were down 42% to $3.10 after the company reported worse-than-expected second-quarter financial results. Also, the company lowered its FY2026 sales guidance below estimates.
• Roblox Corp (NYSE:RBLX) was down, falling 29% to $34.32 following second-quarter results.

Commodities

In commodity news, oil traded up 1% to $84.39 while gold traded down 1.5% at $4,098.30.

Silver traded down 2.2% to $57.67 on Friday, while copper fell 0.4% to $6.4495.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 slipped 0.1%, while Spain’s IBEX 35 Index fell 0.1% London’s FTSE 100 fell 0.2%, Germany’s DAX declined 0.1%, while France’s CAC 40 gained 0.3%.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan’s Nikkei 225 surging 4.03%, Hong Kong’s Hang Seng index rising 0.01%, China’s Shanghai Composite gaining 0.72% and India’s BSE Sensex gaining 0.21%.

Economics

• U.S. employment costs increased by 0.9% in the second quarter, up from market estimates of a 0.8% rise.
• The University of Michigan’s consumer sentiment index rose to 55.2 in July versus a preliminary reading of 54.0.

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