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US stocks traded lower this morning, with the Dow Jones losing around 150 points on Friday.

After Friday’s market open, the Dow Jones traded down 0.47% to 33,093.44 while the NASDAQ fell 1.49% to 12,132.82. The S&P also fell, falling 1% to 4,135.19.

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Leading and Lagging Sectors


Energy stocks jumped 1.3% on Friday. Meanwhile, top earners in the industry included Sprague Resources LP SRLPup 20% and W&T Offshore, Inc. WTI up 7%.


In Friday’s trading, information technology stocks fell 1.7%.



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The US economy added 390,000 jobs in May, above market estimates of 325,000. The unemployment rate, however, remained unchanged at 3.6% in May.



Stock exchange rising



Turning Point Therapeutics, Inc. TPTX shares jumped 116% to $73.75 after Bristol Myers Squibb announced it would acquire Turning Point Therapeutics for $76 a share.


Shares of Amylyx Pharmaceuticals, Inc. AMLX gained a boost, rising 23% to $12.07 after the company announced that the FDA had extended the New Drug Application review deadline for AMX0035.



Sprague Resources LP SRLP shares also rose, gaining 20% ​​to $18.97 after the company announced an agreement to be acquired by Hartree Partners for $19 per common unit.



Stock trading down

HashiCorp, Inc. HPC shares fell 19% to $33.58 after the company reported first-quarter results and released guidance.


Shares of JOANN Inc. JOAN fell 17% to $6.55 after the company said first-quarter EPS results were lower year-over-year and reported worse-than-expected first-quarter sales results.



Novavax, Inc. NVAX was down, falling 16% to $47.05. The US FDA has released informational materials on the Novavax Covid-19 vaccine for people ages 18 and older.



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Goods

In commodities news, oil traded up 0.9% at $117.86, while gold traded down 0.2% at $1,867.40.


Silver rose 0.1% to $22.30 on Friday while copper fell 1.2% to $4.4980.

Eurozone


European stocks were mostly weaker today. The Eurozone STOXX 600 slid 0.1%, while Spain’s IBEX 35 index fell 0.2%. The German DAX gained 0.1%, the French CAC 40 fell 0.1% and the Italian FTSE MIB index fell 0.9%.

Eurozone retail sales fell 1.3% month-on-month in April, registering the first drop since the start of the year. The S&P Global Eurozone Services PMI was revised down to 56.1 in May from a preliminary reading of 56.3.

The S&P Global Germany services PMI was revised down to 55 in May from a preliminary reading of 56.3, while the Italian services PMI fell to 53.7 in May from 55.7 during the period. former. The French services PMI fell to 58.3 in May from 58.9 in April, while the Spanish services PMI fell to 56.5 in May from 57.1 in April.



Economy


The US economy added 390,000 jobs in May, above market estimates of 325,000. The unemployment rate, however, remained unchanged at 3.6% in May.

The S&P Global US Services PMI was revised down to 53.4 in May from a preliminary reading of 53.5.


The ISM services PMI fell to 55.9 in May from 57.1 in April.


Federal Reserve Governor Lael Brainard is due to speak at 10:30 a.m. ET.


Baker Hughes’ North American Platform Count report for the past week will be released at 1:00 p.m. ET.

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COVID-19 Update

The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 86,271,280 cases with around 1,032,860 deaths. India has confirmed a total of at least 43,169,590 cases and 524,650 deaths, while Brazil has reported over 31,101,290 COVID-19 cases with 666,970 deaths. In total, there have been at least 534,246,130 cases of COVID-19 worldwide with more than 6,317,730 deaths.