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The Volatile Dance of Financial Markets: Crude Oil Surges While Fisker Shares Tumble

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As the trading day meandered to a close on Friday, a glimmer of hope shone upon U.S. stocks, with the Nasdaq Composite triumphantly surging over 1%.

With the Dow edging up 0.23% to 39,084.47 and the NASDAQ soaring 1.22% to 16,287.91, the spirited S&P 500 also joined the rally, climbing a respectable 0.78% to 5,135.86.

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Energy Shares Gleam, Utilities Tumble

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In a tale of two sectors, energy shares glistened with a 1.4% incline, while utilities shares stumbled by 1.3% in Friday’s trading fray.

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Fisker Inc. Freefalls as Equities Tumble

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Sidus Space, Inc. SIDU shares nosedived 32% to $6.09 after the company unveiled a public offering of 1,321,000 Class A common shares at $6 per share.

Meanwhile, Fisker Inc. FSR plummeted 38% to $0.4499 following a disappointing revelation of preliminary fourth-quarter total revenue results below estimates, coupled with a sobering acknowledgment that doubts loom over its sustainability as it prepares to file annual financial statements with the SEC.

The saga continued with Scilex Holding Company SCLX experiencing a 38% decline to $1.4150 after the unveiling of a $10 million bought deal offering.

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Commodities Surge Amidst the Chaos

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In the tumultuous world of commodities, oil boldly surged 2.3% to $80.09, while gold shined bright with a 1.9% ascent to $2,094.40.

Adding to the frenzy, silver glimmered with a 2% jump to $23.345, and copper pleasantly rose 0.4% to $3.8605 on Friday.

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Eye on Eurozone: Rising Tides Lift European Shares

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Amidst the ripples in Eurozone waters, shares in Europe rode the rising tide today. STOXX 600 of the eurozone proudly lifted by 0.60%, London’s FTSE 100 rose 0.69%, Spain’s IBEX 35 Index climbed 0.63%, the German DAX gained 0.32%, French CAC 40 ascended 0.09%, and Italy’s FTSE MIB Index surged 1.08%.

The European economic landscape revealed a decline in the unemployment rate to 6.4% in January from 6.5% in the prior month, alongside a slight ease in the consumer price inflation rate to 2.6% year-over-year in February. Moreover, the Eurozone manufacturing PMI hinted at a flicker of optimism, revised up to 46.5 in February versus a preliminary level of 46.1.

Stateside, the S&P Global UK manufacturing PMI was revised higher to 47.5 in February, marking a ten-month high. German manufacturing PMI nudged higher to 42.5 in February versus a preliminary level of 42.3, and French manufacturing PMI ticked up to 47.1 in February versus a preliminary reading of 46.8.

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