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News

US Stocks Mixed; Consumer Sentiment Drops In May

Author: Lisa Levin | May 12, 2023 10:31am

U.S. stocks traded mixed this morning, with the Dow Jones gaining over 30 points on Friday.

Following the market opening Friday, the Dow traded up 0.11% to 33,346.08 while the NASDAQ fell 0.17% to 12,307.19. The S&P 500, also rose, gaining, 0.04% to 4,132.27.

Check This Out: Top 5 Industrials Stocks That May Explode In Q2

 

Leading and Lagging Sectors

  • Energy shares rose by 0.6% on Friday. Meanwhile, top gainers in the sector included Green Plains Inc. (NASDAQ:GPRE), up 4%, and Teekay Corporation (NYSE:TK), up 4%.
  • In trading on Friday, information technology shares fell 0.6%.

 

Top Headline

The University of Michigan consumer sentiment dropped to a six-month low level of 57.7 in May from 63.5 in the prior month.

 

Equities Trading UP

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) shares shot up 84% to $8.34 after the company reported the FDA's Advisory Committee voted in support of favorable benefit-risk assessment for neffy in the treatment of severe allergic reactions (Type 1), including anaphylaxis.

  • Shares of Blue Bird Corporation (NASDAQ:BLBD) got a boost, shooting 40% to $27.05 after the company reported better-than-expected Q2 results.
  • AirSculpt Technologies, Inc. (NASDAQ:AIRS) shares were also up, gaining 42% to $6.94 after the company reported better-than-expected Q1 financial results.

 

Equities Trading DOWN

  • TOP Financial Group Limited (NASDAQ:TOP) shares dropped 30% to $6.42. The SEC announced the temporary suspension of trading in the securities of Top Financial Group Limited, of Hong Kong, at 9:30 A.m. EDT on May 12, 2023, and terminating at 11:59 p.m. EDT on May 25, 2023.
  • Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) were down 31% to $1.5287 after the company reported mixed Q1 financial results.
  • Cemtrex, Inc. (NASDAQ:CETX) was down, falling 20% to $8.70 after the company reported Q2 results.

Also Check This Out: Wall Street's Most Accurate Analysts Say Hold These 3 Materials Stocks Delivering High-Dividend Yields

 

Commodities

In commodity news, oil traded up 1.2% to $71.70 while gold traded up 0.1% at $2,022.00.

Silver traded down 0.5% to $24.305 on Friday while copper rose 0.9% to $3.7445.

 

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.4%, London’s FTSE 100 rose 0.4% while Spain’s IBEX 35 Index rose 0.6% The German DAX rose 0.4%, French CAC 40 rose 0.4% and Italy’s FTSE MIB Index rose 0.9%.

Spain's annual consumer price inflation increased to 4.1% in April from 3.3% in the previous month, while annual inflation rate in France increased to 5.9% in April from 5.7% in the prior month.

The UK economy grew 0.2% year-over-year during the first quarter, recording the smallest annual expansion since 2021. Industrial production in the UK rose 0.7% month-over-month in March, while trade deficit narrowed to £2.86 billion in March versus a revised £3.35 billion in the earlier month.

 

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 0.90%, Hong Kong’s Hang Seng Index dropping 0.59% and China’s Shanghai Composite Index falling 1.12%. India’s S&P BSE Sensex rose 0.3%.

Hong Kong’s economy expanded 2.7% year-over-year in the first quarter versus a revised 4.1% contraction in the earlier quarter. Annual inflation rate in India eased to 4.7% in April from 5.7% in March.

 

Economics

  • US export prices increased by 0.2% from a month ago in April, while import prices rose 0.4% month-over-month in April.
  • The University of Michigan consumer sentiment dropped to a six-month low level of 57.7 in May from 63.5 in the prior month.

Now Read This: Over $5M Bet On This Communication Services Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

 

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 106,790,390 cases with around 1,162,690 deaths. India confirmed a total of at least 44,978,170 cases and 531,750 deaths, while France reported over 40,029,700 COVID-19 cases with 166,860 deaths. In total, there were at least 688,143,330 cases of COVID-19 worldwide with more than 6,873,530 deaths.

Posted In: AIRS BLBD CETX GPRE HRTX SPRY TK TOP

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