US Stocks Mixed; Industrial Production Unchanged In August

U.S. stocks traded mixed this morning, with the S&P 500 gaining around 0.1% on Friday.

Following the market opening Friday, the Dow traded down 0.09% to 51,730.26 while the NASDAQ climbed 0.34% to 26,507.67. The S&P 500 also rose, gaining, 0.09% to 7,644.30.

Leading and Lagging Sectors

Communication services shares jumped by 0.9% on Friday.

In trading on Friday, materials stocks fell by 0.9%.

Top Headline

U.S. industrial production came in unchanged in August following a 0.2% gain in July, and down from market estimates of a 0.3% rise.

Equities Trading UP
           

• Generation Income Properties Inc (NASDAQ:GIPR) shares shot up 255% to $1.56 after gaining over 20% on Thursday.
• Shares of IM Cannabis Corp (NASDAQ:IMCC) got a boost, surging 153% to $4.41.
• Sono Group NV (NASDAQ:SSM) shares were also up, gaining 64% to $2.40. Sono Group recently announced it entered into a non-binding letter of intent to combine with Sports One.

Equities Trading DOWN

• Stardust Power Inc (NASDAQ:SDST) shares dropped 39% to $0.15, reversing part of Thursday’s rally as investors digest an updated stock offering and the potential for further dilution.
• Shares of Xenon Pharmaceuticals Inc (NASDAQ:XENE) were down 26% to $42.32 after the company announced it voluntarily initiated a temporary pause of enrollment of new patients in ongoing psychiatry studies. Multiple firms lowered their respective price targets on the stock.
• CID HoldCo Inc (NASDAQ:DAIC) was down, falling 23% to $4.10.

Commodities

In commodity news, oil traded up 1% to $102.96 while gold traded up 0.1% at $4,405.70.

Silver traded up 1.5% to $67.105 on Friday, while copper rose 0.1% to $6.6710.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 declined 0.9%, while Spain’s IBEX 35 Index fell 1.5%, London’s FTSE 100 fell 1.1%, Germany’s DAX dipped 1.1%, while France’s CAC 40 tumbled 1.2%.

Asia Pacific Markets

Asian markets closed mostly higher on Friday, with Japan’s Nikkei 225 gaining 1.38%, Hong Kong’s Hang Seng index rising 0.60%, China’s Shanghai Composite rising 0.94% and India’s BSE Sensex falling 0.03%.

Economics

• U.S. industrial production came in unchanged in August following a 0.2% gain in July, and down from market estimates of a 0.3% rise.
• Manufacturing output fell 0.3% in August, compared to market estimates of a 0.3% rise.

Photo via Shutterstock