Commodities & Agriculture:
- Brent crude futures (UKOIL) rose 88 cents, or +1%, to $93.72 a barrel by 1100 GMT.
- U.S. West Texas Intermediate crude (USOIL) was up 69 cents, or +0.8%, at $87.48.
- Gold futures edged up to $1,730.0 an ounce by 19:15 ET (23:15 GMT).
- Platinum futures added +0.2%.
- Silver futures jumped nearly +0.7%.
Forex:
- The dollar index fell -0.2%.
- EUR/USD up +1.2% to 1.0154, close to its highest level in three weeks.
- GBP/USD rose +0.7% to 1.1667, piggy-backing on the euro’s gains versus the dollar
- USD/JPY rose +0.3% to 142.95, heading back towards last week’s 24-year high of just under 145, with the yen remaining rate sensitive.
During Market hours Friday — (Friday – 09.09.2022):
- The Dow (Symbol: DIA) went up +1.27%. The S&P 500 (Symbol: SPY) gained +1.55% and the Nasdaq (Symbol: QQQ) went up +2.19%.
- Zscaler (Symbol: ZS) — Zscaler surged +21.9% after reporting strong earnings in its most recent quarter. The company posted adjusted earnings of 25 cents per share on $318 million in revenue. Analysts surveyed by Refinitiv were expecting earnings of 20 cents per share on revenues of $305 million.
- DocuSign (Symbol: DOCU) — Shares jumped +10.5% after the electronic agreement company’s quarterly numbers topped analyst expectations. DocuSign’s revenue guidance for the third quarter was also above expectations, and its full-year outlook was in line with estimates.
- Lyft (Symbol: LYFT) — The ride-hailing company popped +5.5% amid rumors on social media platforms that Lyft could be an acquisition target. The stock jumped 17% the prior day.
- GameStop (Symbol: GME), Bed Bath & Beyond (Symbol: BBBY) — Two of the main meme stocks outperformed on Friday as investors piled back into risk assets. Shares of GameStop rose nearly +12%, while Bed Bath & Beyond jumped +8.1%. There was no clear catalyst for either stock’s move.
- Tesla (Symbol: TSLA) — Tesla’s stock rose +3.6% after a letter to the Texas Comptroller’s Office revealed that the electric car giant is weighing building a lithium factory in the state for electric vehicle batteries.
- Virgin Galactic (Symbol: SPCE) — Shares of Virgin Galactic tumbled -4.5% after Bernstein downgraded the stock to underperform from market perform and cut its price target to $4 from $7 per share. Analyst Douglas Harned cited declining confidence in the success of the space tourism company’s business.
During Premarket hours today – (Monday – 12.09.2022):
- DocuSign (Symbol: DOCU) — Shares of the electronic signature company surged +10.5% after DocuSign’s quarterly numbers beat Wall Street expectations. DocuSign also shared revenue guidance for the third quarter above expectations and an outlook for the full year that fell in line with estimates.
- Zscaler (Symbol: ZS) — Zscaler soared +14.1% after posting strong results for the recent quarter. The cloud security company reported adjusted earnings of 25 cents a share on $318 million in revenue. Analysts surveyed by Refinitiv had anticipated earnings of 20 cents a share on revenues of $305 million.
- Virgin Galactic (Symbol: SPCE) — Shares of the space tourism company slipped -1.9% after Bernstein downgraded the stock to underperform, citing declining confidence in Virgin Galactic’s business as it burns through cash and delays flights.
- Tesla (Symbol: TSLA) — Tesla shares rose +1.3% in the premarket following news that the electric vehicle maker is considering building a lithium refinery for EV battery production in Texas this year, according to an application filed with the Texas Comptroller’s Office.
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