U.S. stocks traded slightly lower this morning, with the Dow Jones falling around 50 points on Friday.

Following the market opening Friday, the Dow traded down 0.16% to 41,956.23 while the NASDAQ fell 0.01% to 18,012.81. The S&P 500 also fell, dropping, 0.13% to 5,706.13.

Leading and Lagging Sectors
Utilities shares jumped by 1.7% on Friday.

In trading on Friday, energy shares fell by 1%.

Top Headline

FedEx Corporation (NYSE:FDX) reported weaker-than-expected results for the first quarter of fiscal 2025 and lowered its full-year guidance.

FedEx reported first-quarter revenue of $21.6 billion, missing analyst estimates of $21.955 billion, according to Benzinga Pro. The company reported first-quarter adjusted earnings of $3.60 per share, missing analyst estimates of $4.80 per share.

Equities Trading UP

• Banzai International, Inc. (NASDAQ:BNZI) shares shot up 131% to $6.62. Banzai International recently announced a 1-for-50 reverse stock split.
• Shares of Battalion Oil Corporation (NYSE:BATL) got a boost, surging 122% to $6.53 after the company announced it has amended its merger agreement with Fury Resources for the acquisition of all outstanding shares of Battalion at $7.00 per share in cash.
• Expion360 Inc. (NASDAQ:XPON) shares were also up, gaining 104% to $0.1183.

Equities Trading DOWN

• Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) shares dropped 65% to $18.05.
• Shares of Linkage Global Inc (NASDAQ:LGCB) were down 44% to $0.5482.
• Skye Bioscience, Inc. (NASDAQ:SKYE) was down, falling 41% to $3.2550.

Commodities
In commodity news, oil traded down 0.4% to $71.67 while gold traded up 1.1% at $2,642.30.

Silver traded up 1% to $31.74 on Friday, while copper rose 0.5% to $4.3705.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.9%, Germany's DAX declined 0.8% and France's CAC 40 fell 0.8%. Spain's IBEX 35 Index rose 0.3%, while London's FTSE 100 fell 0.9%.

Spain's trade deficit narrowed to EUR 3.2 billion in July from EUR 4.9 billion in the year-ago month. The manufacturing climate indicator in France slipped to 98.6 in September from 98.9 in the prior month.

Retail sales in the UK rose 1% month-over-month in August compared to revised 0.7% gain in July. Producer prices in Germany fell by 0.8% year-over-year in August.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan's Nikkei 225 gaining 1.53%, Hong Kong's Hang Seng Index surging 1.36%, China's Shanghai Composite Index gaining 0.03% and India's BSE Sensex gaining 1.63%.

Foreign exchange reserves held by the Reserve Bank of India climbed to $689.5 billion as of Sept. 13. The annual inflation rate in Hong Kong came in flat at 2.5% in August, while Hong Kong's current account surplus increased to HKD 101.03 billion in the second quarter from HKD 50.71 billion in the year-ago period. The Bank of Japan kept its key short-term interest rate unchanged at around 0.25% during its recent meeting.

Economics

The Baker Hughes rig-count report for the latest week will be released at 1:00 p.m. ET.

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