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European Equities Traded in the US as American Depositary Receipts Rise in Friday Trading

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European equities traded in the US as American depositary receipts were trending higher late Friday morning, rising 0.53% to 1,939.78 on the S&P Europe Select ADR Index.

From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and lender Banco Bilbao Vizcaya Argentaria (BBVA), which were up 3.1% and 1.8% respectively. They were followed by medical device maker EDAP TMS (FOCL) and lender Banco Santander (SAN), which increased 1.7% and 1.4% respectively.

The decliners from continental Europe were led by biopharmaceutical company Cellectis (CLLS) and pharmaceutical company Novo Nordisk (NVO), which dropped 3.5% and 2.8% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and oil and gas company Eni (E), which lost 1.5% and 1.3% respectively.

The gainers from the UK were led by biopharmaceutical companies Biodexa Pharmaceuticals (BDRX) and Mereo BioPharma Group (MREO), which surged 86% and 13% respectively. They were followed by biopharmaceutical company Akari Therapeutics (AKTX) and software firm Endava (DAVA), which advanced 2.7% and 1.8% respectively.

The decliners from the UK and Ireland were led by biotech firms Trinity Biotech (TRIB) and Autolus Therapeutics (AUTL), which fell 12% and 4.1% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and communications company WPP (WPP), which were down 1.1% and 1% respectively.

What else is happening in Asia Markets?

Asia Markets

Update: US Equity Indexes Decline as Treasury Yields Soar Amid Hot Wholesale Inflation Print, Escalation in Iran War Threatens Red Sea Chokepoint

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes fell as crude oil and government bond yields surged after an inflation gauge grew at the fastest pace in three months and an Iran-aligned militia group's threats to an alternative shipping route to the Strait of Hormuz mounted.The Nasdaq Composite declined 0.7% to 26,081.73, the S&P 500 retreated 0.6% to 7,591.70, and the Dow Jones Industrial Average dropped 0.6% to 52,064.10 on Thursday. All sectors except communication services and consumer staples dropped. Materials and utilities led the decliners.The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% from a year ago in August, above the 5.3% forecast in a Bloomberg-compiled survey, and 4.8% in July. The PPI edged up 0.4% month over month, as expected, following a 0.1% increase in July. The August print is the highest growth rate since May.Core PPI, which excludes volatile food and energy prices, climbed 4.6%, as anticipated, from a year ago, and up from 4.3% in July. Core PPI climbed 0.2%, below July's 0.3% and the 0.3% forecast."Based on the timing of the PPI survey, we expect another rise in September's report, as diesel prices have climbed nearly 60 cents and gasoline prices have risen close to 20 cents during the survey window, which is in the middle of the month," Grace Zwemmer, US economist at Oxford Economics, said in a note.US Treasury yields traded sharply higher across the term structure, with the 10-year yield surging 12.3 basis points to 4.96%, the highest since October 2023.The European Central Bank raised its three key interest rates by 25 basis points on Thursday, as the energy shock caused by the ongoing Middle East war pushed inflation in the euro area above its 2% medium-term target.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea, according to a report from Reuters. Bab al-Mandeb is a geopolitical chokepoint similar to the Strait of Hormuz linking Asia and Europe via the Suez Canal.If the Houthis impose a stranglehold over the waterway, on the opposite side of the Arabian Peninsula from the Strait of Hormuz, it could give their sponsor Iran a critical advantage in the war with the United States, reducing supplies through a second major transit corridor, the news report said.Saudi Arabia reported to the Organization of the Petroleum Exporting Countries that its crude oil production plunged again last month, down by 1.9 million barrels a day to 6.238 million barrels, the lowest since 1990, as renewed hostilities between the US and Iran squeezed the kingdom's export routes, Bloomberg reported.The front-month US West Texas Intermediate crude oil contract climbed 7.2% to $102.92 per barrel, and global benchmark North Sea Brent rose 6.9% to $108.16 per barrel.Gold futures dropped 2.2% to $4,363.5, and silver futures sank 6.6% to $64.15.In US company news, shares of Cooper Companies (COO) sank almost 15%, the worst performer on the S&P 500, after a fiscal Q3 revenue miss overshadowed its earnings beat, and the company also cut its full-year outlook.Apple (AAPL) rose 3.6%, the Dow's top gainer, as the iPhone manufacturer unveiled its first foldable smartphone on Wednesday.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO
Asia Markets

Update: US Equity Indexes Slide as Treasury Yields Surge Amid Hot Producer Prices, Soaring Crude Oil

(Updates with index/price moves, macroeconomic data, comments and company/geopolitical news from the first paragraph.)US equity indexes fell as crude oil and government bond yields soared after an inflation gauge grew at the quickest pace in three months and an Iran-aligned militia group's threat to the alternative shipping route to the Strait of Hormuz escalated.The Nasdaq Composite declined 0.4% to 26,152.3, the S&P 500 retreated 0.4% to 7,602.5, and the Dow Jones Industrial Average dropped 0.5% to 52,096.8 after midday Thursday. All sectors except communication services and consumer staples fell, with materials leading the steepest decliners.The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% from a year ago in August, above the 5.3% forecast in a Bloomberg-compiled survey, and 4.8% in July. The PPI edged up 0.4% month over month, as expected, following a 0.1% increase in July. The August print is the highest growth rate since May.Core PPI, which excludes the more volatile food and energy prices, climbed 4.6%, as anticipated, from a year ago, and up from 4.3% in July. Core PPI climbed 0.2%, below July's 0.3% and the 0.3% forecast."Based on the timing of the PPI survey, we expect another rise in September's report, as diesel prices have climbed nearly 60 cents and gasoline prices have risen close to 20 cents during the survey window, which is in the middle of the month," Grace Zwemmer, US economist at Oxford Economics, said in a note.US Treasury yields jumped after midday. The two-year soared 11.9 basis points to 4.55%, the highest since mid-2024. The 10-year yield surged 7.4 basis points to 4.91%, its strongest level since late 2023.The European Central Bank raised its three key interest rates by 25 basis points on Thursday, as the energy shock caused by the ongoing Middle East war pushes inflation in the euro area above its 2% medium-term target.In further US economic news, initial jobless claims fell to 206,000 in the week ended Sept. 5 from an upwardly revised 207,000 in the previous week, compared with expectations for 205,000 in a Bloomberg-compiled poll.Meanwhile, Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea and an important shipping route, according to a report from Reuters.Pakistan has delivered a Saudi warning to Iran to rein in its Yemeni Houthi allies, whose move threatens the kingdom's exports through the Red Sea, to prevent the Middle East crisis from spiralling, Saudi, Pakistani and Iranian sources told Reuters.The front-month US West Texas Intermediate crude oil contract catapulted 5.6% to $101.42 per barrel, and global benchmark North Sea Brent shot up 5.5% to $106.79 per barrel.Gold futures dropped 1.4% to $4,400.1, and silver futures sank 5.5% to $64.86.In US company news, shares of Cooper Companies (COO) sank 15%, the worst performer on the S&P 500, after a fiscal Q3 revenue miss overshadowed its earnings beat, and the company also cut its full-year outlook.Apple (AAPL) rose 2.5%, the Dow's top gainer, as the iPhone manufacturer unveiled its first foldable smartphone on Wednesday.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO
Asia Markets

Exchange-Traded Funds, US Equities Fall After Midday

Broad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) fell 0.9%.US equity indexes fell after an inflation gauge jumped at the quickest pace in three months while an Iran-aligned militia group's threat to the alternative shipping route through the Strait of Hormuz grew stronger.EnergyIShares US Energy ETF (IYE) lost 0.2% and the State Street Energy Select Sector SPDR (XLE) fell 0.4%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) shed 1.1%; iShares US Technology ETF (IYW) dropped 0.7%, and iShares Expanded Tech Sector ETF (IGM) declined 0.7%.The State Street SPDR S&P Semiconductor (XSD) shed 0.2%, while iShares Semiconductor (SOXX) dropped 2.1%.FinancialThe State Street Financial Select Sector SPDR (XLF) slipped 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) decreased 1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 1.2%.CommoditiesCrude oil increased 5.5%, and the United States Oil Fund (USO) gained 4.4%. Natural gas shed 0.5%, and the United States Natural Gas Fund (UNG) dropped 0.1%.Gold on Comex declined 1.3%, and the State Street SPDR Gold Shares (GLD) moved 0.9% lower. Silver fell 5.6%, and iShares Silver Trust (SLV) lost 4.3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) gained 0.3%. The Vanguard Consumer Staples ETF (VDC) increased 0.2%, and iShares Dow Jones US Consumer Goods (IYK) rose 0.4%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was fractionally lower. The VanEck Retail ETF (RTH) fell 0.4%, and the State Street SPDR S&P Retail (XRT) dropped 0.6%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) fell 0.4%; iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) declined 0.5% each, while iShares Biotechnology ETF (IBB) shed 1.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) was 0.7% lower. The Vanguard Industrials Index Fund (VIS) shed 0.8% and iShares US Industrials (IYJ) dropped 0.6%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) decreased 1.4%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) decreased 1.4%, ProShares Ether ETF (EETH) fell 1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 1.5%.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH