From around the worldWall Street Set to Open Higher on Cooling Inflation, China's Relaxing of COVID Restrictions
09:28 AM EST, 11/11/2022 (MT Newswires) -- US stocks looked set to open in positive territory Friday as investors continued to react to Thursday's better-than-expected US inflation data and as China relaxed some of its COVID-19 restrictions.
The University of Michigan's consumer sentiment survey for November is set to be released at 10 am ET. The Econoday consensus estimate is for November's reading to come in at 59.6, down from 59.9 in October.
Dow Jones Industrial Average futures were up 0.47%, S&P 500 futures were moving 0.54% higher, and Nasdaq futures gained 0.57%.
Oil prices were moving sharply higher with North Sea Brent crude and US West Texas Intermediate crude climbing 2.73% and 3.05%, respectively.
In other world markets, Japan's Nikkei surged 2.98%, Hong Kong's Hang Seng soared 7.7%, and China's Shanghai Composite increased 1.69%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was off 0.40%, while Germany's DAX index and France's CAC 40 were up 0.35% and 0.43% respectively.
On the winning side, shares of Mercurity Fintech (MFH) soared 27 in Friday's premarket session, after tumbling 26% Thursday. SoundHound AI (SOUN) shares advanced 23% after it said it will cut its workforce by approximately 10%. Versus Systems (VS) shares surged 24%, adding to a 41% gain the previous session. Biodesix (BDSX) shares climbed 23% after it reported data it says highlights the ability of its VeriStrat test to stratify immune checkpoint inhibition treatment response in patients with advanced non-small cell lung cancer. And Shares of Doximity (DOCS) rose 16% on better-than-expected Q2 fiscal 2022 results.
On the losing side, shares of Blue Apron Holdings (APRN) fell 31% after it revealed in a regulatory filing that it has signed an equity distribution agreement with Canaccord Genuity to sell 20.68 million shares at $1.45 per share. RedHill Biopharma (RDHL) shares shed 26% after the company said it does not have sufficient resources to fund its operations for the next 12 months in a regulatory filing Thursday and it may need to raise additional capital. AirSculpt Technologies (AIRS) shares dropped 23%, after it reported a Q3 loss and cut its 2022 guidance. Shares of Tattooed Chef (TTCF) fell 23% after it lowered its guidance for full-year 2022 revenue and gross margin. And GoHealth (GOCO) shares dropped 14% after it reported a wider loss in Q3.