Crude Oil Surges 3%; RBC Bearings Earnings Top Views – Elong Power Holding (NASDAQ:ELPW), Gambling.com Gr

U.S. stocks traded lower midway through trading, with the S&P 500 falling more than 1% on Friday.

The Dow traded down 1.08% to 49,529.29 while the NASDAQ dipped 1.42% to 26,258.29. The S&P 500 also fell, dropping, 1.16% to 7,414.40.

Leading and Lagging Sectors

Energy shares jumped by 1.5% on Friday.

In trading on Friday, materials stocks fell by 2.1%.

Top Headline

RBC Bearings Inc (NYSE:RBC) reported upbeat earnings for the first quarter on Friday.

The company posted quarterly earnings of $3.62 per share which beat the analyst consensus estimate of $3.32 per share. The company reported quarterly sales of $518.000 million which beat the analyst consensus estimate of $506.590 million.

Equities Trading UP
           

Equities Trading DOWN

Commodities

In commodity news, oil traded up 3% to $104.17 while gold traded down 2.7% at $4,559.80.

Silver traded down 9.5% to $77.230 on Friday, while copper fell 4.6% to $6.3050.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 dipped 1.4%, while Spain’s IBEX 35 Index fell 0.97%. London’s FTSE 100 fell 1.7%, Germany’s DAX dipped 1.8%, while France’s CAC 40 slipped 1.4%.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan’s Nikkei 225 falling 1.99%, Hong Kong’s Hang Seng Index dipping 1.62%, China’s Shanghai Composite dipping 1.02% and India’s BSE Sensex declining 0.21%

Economics

The NY Empire State Manufacturing Index rose to 19.6 in May from 11 in the previous month, also topping market estimates of 7.5.

U.S. industrial production rose 0.7% in April, after falling 0.3% in March.

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