U.S. equities traded mixed on Friday, with the S&P 500 gaining 0.1%. The Dow Jones Industrial Average fell 0.09% to 51,730.26, while the NASDAQ Composite climbed 0.34% to 26,507.67. The S&P 500 closed at 7,644.30, reflecting a gain of 0.09%.

Sector Performance

Communication services led market gains, rising 0.9%. In contrast, materials stocks declined 0.9%. Individual equity movements were volatile, with Generation Income Properties Inc (NASDAQ: GIPR) surging 255% to $1.56 and IM Cannabis Corp (NASDAQ: IMCC) jumping 153% to $4.41. Sono Group NV (NASDAQ: SSM) also rose 64% to $2.40 following a letter of intent to combine with Sports One.

Conversely, Stardust Power Inc (NASDAQ: SDST) dropped 39% to $0.15 amid concerns over dilution from an updated stock offering. Xenon Pharmaceuticals Inc (NASDAQ: XENE) fell 26% to $42.32 after pausing enrollment in psychiatry studies. CID HoldCo Inc (NASDAQ: DAIC) declined 23% to $4.10.

Economic Data

U.S. industrial production remained unchanged in August, following a 0.2% gain in July. This result missed market estimates of a 0.3% rise. Manufacturing output specifically fell 0.3% in August, contrary to expectations of a 0.3% increase.

Global Markets

European equities declined broadly. The STOXX 600 fell 0.9%, while major indices including Germany's DAX (-1.1%), France's CAC 40 (-1.2%), and London's FTSE 100 (-1.1%) also slipped. Spain's IBEX 35 index recorded the steepest drop at 1.5%.

Asian markets closed mostly higher. Japan's Nikkei 225 gained 1.38%, China's Shanghai Composite rose 0.94%, and Hong Kong's Hang Seng index increased 0.60%. India's BSE Sensex fell marginally by 0.03%.

Commodities

Oil prices rose 1% to $102.96. Gold edged up 0.1% to $4,405.70, while silver gained 1.5% to $67.105. Copper prices increased slightly by 0.1% to $6.6710.

U.S. stock futures advanced on Friday, with the Dow Jones, S&P 500, and Nasdaq 100 indices rising following Thursday's higher close. Markets are pricing in a 53.1% likelihood of a Federal Reserve interest rate hike after its October meeting.

The rally comes as crude oil slipped to $100.19 per barrel while President Donald Trump weighs a "big decision" on potential military strikes against Iran ahead of talks with Gulf leaders.

Market Overview

The SPDR S&P 500 ETF Trust (NYSE: SPY) rose 0.30% to $762.99, while the Invesco QQQ Trust ETF (NASDAQ: QQQ) advanced 0.58% to $721.09. Treasury yields remained elevated, with the 10-year bond at 4.94% and the 2-year bond at 4.69%.

Stocks In Focus

Nucor Corp. (NYSE: NUE) dropped 3.07% in premarket trading despite raising its third-quarter earnings guidance to $5.55 to $5.65 per diluted share, up from $2.63 in the year-ago quarter. BlackBerry Ltd. (NYSE: BB) rose 1.76% after announcing a partnership between Sift and its QNX division. McDonald’s Corp. (NYSE: MCD) gained 0.41% after raising its quarterly dividend from $1.86 to $1.93 per share.

Oklo Inc. (NYSE: OKLO) was up 1.34% following House approval of a plan requiring large data centers to absorb more grid infrastructure costs. However, no nuclear firm secured new contracts as a result of the vote. 5E Advanced Materials Inc. (NASDAQ: FEAM) fell 4.37% after posting a loss of 14 cents per share for the fourth quarter, beating estimates of a 32 cent loss.

What the Numbers Show

The divergence in Nucor’s performance highlights market skepticism toward cyclical recovery; despite nearly doubling its earnings guidance from $2.63 to $5.55–$5.65, the stock declined 3.07%, suggesting investors may be discounting near-term margin expansion or anticipating broader economic headwinds.

Analyst Insights

Wells Fargo analyst Tony Miano projects that heavy public and private debt issuance will drive U.S. bond yields higher. He notes that while the U.S. Treasury’s borrowing pace is unsustainable, default is not imminent due to resilient corporate earnings. Miano recommends allocating new cash to short-term fixed income for stability.

Global Markets & Commodities

Asian markets were broadly higher, with Japan’s Nikkei 225 and India’s Nifty 50 rising, while European markets dipped early. Gold spot prices rose 1.11% to $4,389.84 per ounce. Bitcoin (CRYPTO: BTC) traded 2.00% higher at $77,939.67. Industrial production data for August is scheduled for release at 9:15 am ET.