Nasdaq Jumps Over 1%; Exxon Mobil Posts Upbeat Revenue

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 1% on Friday.

The Dow traded up 0.05% to 49,676.38 while the NASDAQ surged 1.13% to 25,173.84. The S&P 500 also rose, gaining, 0.58% to 7,251.06.

Leading and Lagging Sectors

Information technology shares jumped by 1.6% on Friday.

In trading on Friday, energy stocks fell by 1.5%.

Top Headline

Exxon Mobil Corp. (NYSE:XOM) reported better-than-expected results for the first quarter.

Adjusted earnings were $4.9 billion, or $1.16 per share, while earnings excluding identified items and estimated timing effects were $8.8 billion, or $2.09 per share.

The company beat expectations, with adjusted EPS of $1.16 exceeding the $1.15 estimate. Total revenues and other income rose to $85.14 billion from $83.13 billion a year earlier, beating estimates of $82.18 billion.

Equities Trading UP
           

• Esperion Therapeutics Inc (NASDAQ:ESPR) shares shot up 56% to $3.12 after the company announced it will be acquired by ARCHIMED.
• Shares of Five9 Inc (NASDAQ:FIVN) got a boost, surging 31% to $22.48 after the company reported better-than-expected first-quarter financial results and raised its FY26 guidance.
• Atlassian Corp (NASDAQ:TEAM) shares were also up, gaining 28% to $87.81 after the company reported better-than-expected third-quarter financial results.

Equities Trading DOWN

• Summit Therapeutics Inc (NASDAQ:SMMT) shares dropped 23% to $16.52 after the company reported first-quarter results.
• Shares of Crescent Biopharma Inc (NASDAQ:CBIO) were down 20% to $17.92 following quarterly earnings.
• LendingTree, Inc. (NASDAQ:TREE) was down, falling 18% to $40.48 after the company reported worse-than-expected first-quarter adjusted EPS results.

Commodities

In commodity news, oil traded down 3.5% to $101.38 while gold traded up 0.3% at $4,641.90.

Silver traded up 3.4% to $76.535 on Friday, while copper rose 0.1% to $5.9820.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 rose 0.04%, while London's FTSE 100 fell 0.14%.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan's Nikkei gaining 0.38%.

Economics

• The ISM manufacturing PMI came in unchanged at 52.7 in April, down from market expectations of 53.0.
• The S&P Global manufacturing PMI was revised higher to 54.5 in April versus a preliminary reading of 54.0.

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