Gold Falls Over 1%; Phillips 66 Posts Upbeat Earnings

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining around 0.2% on Friday.

The Dow traded up 0.19% to 44,779.21 while the NASDAQ rose 0.37% to 21,135.49. The S&P 500 also rose, gaining, 0.32% to 6,383.53.

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Leading and Lagging Sectors

Financial shares jumped by 0.5% on Friday.

In trading on Thursday, real estate stocks dipped by 0.8%.

Top Headline

Phillips 66 (NYSE:PSX) reported better-than-expected second-quarter financial results.

Phillips 66 posted adjusted earnings of $2.38 per share, beating market estimates of $1.69 per share. The company's quarterly sales came in at $33.52 billion versus expectations of $32.53 billion.

Equities Trading UP
           

• Linkhome Holdings Inc. (NASDAQ:LHAI) shares shot up 67% to $9.42 following the company’s recent announcement of an upsized initial public offering of $6 million. Consisting of 1,500,000 shares of common stock, the offering was priced at $4 per share.  Before deducting underwriting discounts and offering expenses, the total gross proceeds resulted in $6 million.
• Shares of Fusion Fuel Green PLC (NASDAQ:HTOO) got a boost, surging 38% to $6.51 after the company announced its subsidiary has confirmed several new projects.
• Coursera, Inc. (NYSE:COUR) shares were also up, gaining 35% to $12.22 as the company posted better-than-expected second-quarter results after Thursday's closing bell.

Equities Trading DOWN

• Absci Corporation (NASDAQ:ABSI) shares dropped 19% to $2.8550 after the company announced a $50 million public offering.
• Shares of Incannex Healthcare Inc. (NASDAQ:IXHL) were down 27% to $1.1901. Incannex Healthcare announced the appointment of Charlene E. Gamaldo, M.D. to its IHL-42X Obstructive Sleep Apnea (OSA) Clinical Advisory Board.
• Carter’s, Inc. (NYSE:CRI) was down, falling 28% to $23.54 after the company reported a second-quarter adjusted EPS miss. Additionally, the company suspended its fiscal 2025 guidance and cited tariff impacts on future earnings.

Commodities

In commodity news, oil traded down 0.6% to $65.62 while gold traded down 1.3% at $3,329.20.

Silver traded down 0.8% to $38.90 on Friday, while copper fell 0.1% to $5.7980.

Euro zone

European shares were lower today. The eurozone's STOXX 600 dipped 0.50%, while Spain's IBEX 35 Index fell 0.35%. London's FTSE 100 fell 0.42%, Germany's DAX 40 declined 0.60% and France's CAC 40 fell 0.11% during the session.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei 225 falling 0.88%, Hong Kong's Hang Seng dipping 1.09%, China's Shanghai Composite declining 0.33% and India's BSE Sensex falling 0.88%.

Economics

U.S. durable goods orders fell 9.3% month-over-month to $311.84 billion in June, following a revised 16.5% gain in May.

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