Dow Falls Over 200 Points; 3M Earnings Top Views

U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 200 points on Friday.

The Dow traded down 0.55% to 44,240.83 while the NASDAQ fell 0.11% to 20,863.57. The S&P 500 also fell, dropping, 0.14% to 6,288.48.

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Leading and Lagging Sectors

Utilities shares jumped by 1.9% on Friday.

In trading on Friday, communication services stocks dipped by 0.9%.

Top Headline

3M Company (NYSE:MMM) reported better-than-expected second-quarter 2025 results and raised its full-year guidance.

The company posted GAAP sales of $6.3 billion, up 1.4% year over year. Adjusted sales came in at $6.2 billion, reflecting 1.5% organic growth and beating the consensus estimate of $6.09 billion. Adjusted earnings per share rose 12% year over year to $2.16, topping the Street estimate of $2.01.

3M now sees 2025 Adjusted EPS of $7.75-$8.0 (prior $7.60-$7.90) versus the consensus of $7.68, includes the impact from tariffs. 3M expects 2025 adjusted sales organic growth of ~2% (prior lower end of 2% to 3%), and operating cash flow of $5.1–$5.5 billion with >100% free cash flow conversion.

Equities Trading UP
           

• Telomir Pharmaceuticals, Inc. (NASDAQ:TELO) shares shot up 81% to $2.19 after the company announced data for its gene silencing of STAT1.
• Shares of MEI Pharma, Inc. (NASDAQ:MEIP) got a boost, surging 33% to $5.99 after the company announced a $100 million private placement, with plans to use the proceeds to launch a Litecoin treasury strategy.
• Blaize Holdings, Inc. (NASDAQ:BZAI) shares were also up, gaining 45% to $4.39 after announcing a $120 million agreement to deploy its hybrid AI platform in collaboration with Starshine.

Equities Trading DOWN

• LQR House Inc. (NASDAQ:YHC) shares dropped 65% to $2.29 after the company announced plans to integrate cryptocurrency and blockchain technology into its business model.
• Shares of Northern Dynasty Minerals Ltd. (NYSE:NAK) were down 48% to $0.8398 after insider trading disclosures revealed share sales by key executives. The selloff erased gains following the July 4 announcement that the company is in talks to potentially resolve a legal standoff with the Environmental Protection Agency (EPA) over the copper-gold-molybdenum Pebble project.
• Draganfly Inc (NASDAQ:DPRO) was down, falling 23% to $5.55 after the company announced the pricing of $25.0 million registered direct offering.

Commodities

In commodity news, oil traded up 1.1% to $68.28 while gold traded up 0.5% at $3,362.20.

Silver traded up 0.8% to $38.605 on Friday, while copper rose 1.1% to $5.5730.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 gained 0.02%, while Spain's IBEX 35 Index slipped 0.01%. London's FTSE 100 rose 0.08%, Germany's DAX 40 slipped 0.16% and France's CAC 40 gained 0.10% during the session.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei falling 0.21%, Hong Kong's Hang Seng gaining 1.33%, China's Shanghai Composite gaining 0.50% and India's BSE Sensex falling 0.61%.

Economics

• U.S. housing starts climbed by 4.6% from the previous month to an annualized rate of 1.321 million in June.
• Building permits in the U.S. rose by 0.2% to an annualized rate of 1.397 million in June.

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