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Crude Oil Falls Over 4%; Quoin Pharmaceuticals Shares Spike Higher
Benzinga· 2025-10-10 16:56
Market Overview - U.S. stocks experienced a decline, with the Nasdaq Composite falling approximately 2.5% on Friday. The Dow increased by 1.26% to 45,772.50, while the S&P 500 rose by 1.79% to 6,614.73 [1] - Consumer staples shares increased by 0.6%, while energy stocks decreased by 0.6% on the same day [1] Economic Indicators - The University of Michigan consumer sentiment index decreased to 55 in October from 55.1 in September, slightly above market expectations of 54.2 [2][10] Commodity Market - Oil prices fell by 4.2% to $58.94, while gold prices rose by 0.7% to $3,999.90. Silver increased by 2.7% to $48.440, and copper rose by 0.6% to $5.1540 [5] European Market - European shares were predominantly lower, with the eurozone's STOXX 600 declining by 0.23%. Spain's IBEX 35 Index was an exception, rising by 0.45% [6] Asian Market - Asian markets closed mostly lower, with Japan's Nikkei 225 down by 1.01% and Hong Kong's Hang Seng index falling by 1.73%. China's Shanghai Composite decreased by 0.94%, while India's BSE Sensex rose by 0.40% [7] Company Performance - Quoin Pharmaceuticals, Ltd. saw a significant increase in shares, rising by 293% to $32.10 following a $104.5 million private placement [9] - ESS Tech, Inc. shares surged by 83% to $3.15 after announcing an agreement to add a battery system to the grid in Arizona [9] - Applied Digital Corporation's shares increased by 24% to $36.46 after reporting better-than-expected first-quarter results, with Needham raising its price target from $21 to $41 [9] - Bollinger Innovations, Inc. shares dropped by 58% to $0.5856 after announcing a move to OTC markets and suspension from Nasdaq trading [9] - Venture Global, Inc. shares fell by 20% to $10.07 due to arbitration resolution risks and a downgrade from Mizuho [9] - Tian Ruixiang Holdings Ltd. shares decreased by 39% to $1.4380 after announcing a $3 million registered direct offering [9]