Crude Oil Jumps 3%; Citizens Financial Earnings Top Views

by | Oct 16, 2026 | General

U.S. stocks traded lower midway through trading, with the S&P 500 falling around 1% on Friday.

The Dow traded down 0.45% to 51,943.95 while the NASDAQ fell 1.86% to 26,216.32. The S&P 500 also fell, dropping, 1.00% to 7,666.71.

Leading and Lagging Sectors

Energy shares jumped by 1.7% on Friday.

In trading on Friday, communication services stocks fell by 2.2%.

Top Headline

Citizens Financial Group (NYSE:CFG) reported better-than-expected earnings for the third quarter.

The company posted quarterly earnings of $1.41 per share which beat the analyst consensus estimate of $1.38 per share. The company reported quarterly sales of $2.322 billion which missed the analyst consensus estimate of $2.336 billion.

Equities Trading UP
           

  • Sangrix Inc (NASDAQ:SGRX) shares shot up 23% to $0.84 after the company announced November 2026 delivery schedule for 128-GPU NVIDIA Blackwell B300 project in Malaysia.
  • Shares of Zenta Group Co Ltd (NASDAQ:ZTG) got a boost, surging 30% to $0.80 after the company announced its subsidiary ZentoAI has executed a binding MOU to acquire a controlling stake in a privately held digital technology service provider in mainland China.
  • Strata Critical Medical Inc (NASDAQ:SRTA) shares were also up, gaining 7% to $4.65. Strata Critical Medical 13D filing showed Third Point reported a 5.8% stake in the company as of Oct. 13.

Equities Trading DOWN

  • Fractyl Health (NASDAQ:GUTS) shares dipped 46% to $2.24 despite meeting a key REMAIN-1 endpoint, with the second co-primary endpoint and 12-month results expected in 2027.
  • Shares of MDxHealth SA (NASDAQ:MDXH) were down 54% to $0.28 after the company announced preliminary third-quarter revenue and suspended its full-year 2026 revenue guidance of $110 million-$115 million.
  • Fox Factory Holding Corp (NASDAQ:FOXF) was down, falling 15% to $15.82 after the company reported preliminary third-quarter results below guidance and cut its fiscal 2026 outlook.

Commodities 

In commodity news, oil traded up 3% to $100.87 while gold traded up 0.3% at $4,181.80.

Silver traded up 0.4% to $57.370 on Friday, while copper rose 0.9% to $6.6145.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.8%, while Spain’s IBEX 35 Index rose 0.9%, London’s FTSE 100 rose 0.4%, Germany’s DAX jumped 1.2%, while France’s CAC 40 gained 0.4%.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan’s Nikkei 225 gaining 1.39%, Hong Kong’s Hang Seng Index rising 0.52%, China’s SSE Composite Index gaining 0.24% and India’s BSE Sensex surging 0.56%.

Economics

  • The New York Fed’s Services Business Activity Index dipped to -20.7 in October from -8.7 in the previous month, recording its weakest level since March.
  • U.S. export prices surged 2.2% in September, recording the largest monthly gain since April, following a 1.2% rise in August.
  • U.S. import prices rose by 1.1% month-over-month in September, above market estimates of a 0.8% gain.
  • U.S. industrial production climbed 0.7% month-over-month in September, the most in five months and versus market estimates of 0.4%.

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