Category: Uncategorized

U.S. oil futures settled with a modest gain on Friday, ending higher for the week after the Organization of the Petroleum Exporting Countries and its allies reiterated their commitment to output cuts. Prices for the U.S. benchmark, however, ended below the session’s highs, briefly turning lower for the session afterAljazeera reported that Libyan commander Khalifa Haftar announced a conditional lifting of a months-long blockage of oilfields and ports by the Libyan National Army. That fed expectations for higher global crude supplies. October West Texas Intermediate oil rose 14 cents, or 0.3%, to settle at $41.11 a barrel on the New York Mercantile Exchange. Front-month prices rose 10.1%, marking the strongest weekly rise since the week ended June 5, according to FactSet data.

The group also includes distinguished Google engineer David Patterson, Pixar co-founder Ed Catmull, Facebook’s chief AI Scientist Yann LeCun and Microsoft research scientists Leslie Lamport and Butler Lampson.

Gold futures rose Friday to tally a second consecutive weekly climb. “The fading optimism over a sharp V-shaped global recovery as new coronavirus cases picked up across the countries and sell-off in global equities has supported the yellow metal demand,” analysts at ICICI Bank wrote in a market update. December gold rose $12.20, or 0.6%, to settle at $1,962.10 an ounce with most-active futures prices up 0.7% up for the week.

https://www.cnbc.com/2020/09/18/fires-in-california-oregon-and-washington-data-shows-blazes-getting-worse-.html

https://www.cnbc.com/2020/09/18/pandemic-fatigue-leads-to-resurgence-of-coronavirus-in-europe-where-france-and-spain-hit-records.html

https://www.cnbc.com/2020/09/18/who-says-parts-of-europe-reporting-worrying-rise-in-coronavirus-hospitalizations-.html

Shares of Compass Pathways PLC pointed north out of the gate, as the first trade was 37.6% above the initial public offering price. The U.K.-based mental health care company said Friday that it’s upsized IPO priced at $17 share, above the expected range of $14 to $16 a share. The stock’s first trade on the Nasdaq was at $23.40 at 12:30 p.m. Eastern for 277,349 shares. The company sold 7.5 million shares in the IPO, up from previous expectations of 6.7 million shares, to raise $127.5 million. The company was valued at about $578.1 million at the IPO price. The stock has added to gains since it opened, to trade up 44%. Compass’s bullish debut comes at the end of a busy week for IPOs, which was highlighted by Snowflake Inc.’s red-hot debut earlier this week. The Renaissance IPO ETF has rallied 20.1% over the past three months, while the S&P 500 has gained 6.8%.

Shares of Athira Pharma Inc. rallied in their public debut, as the first trade was 17.4% above the initial public offering price. The Seattle-based biopharmaceutical company’s upsized IPO priced late Thursday at $17 share, at the top of the expected range of $15 to $17 a share. The stock’s first trade on the Nasdaq was at $19.95 at 12.01 p.m. Eastern for 7,69,298 shares. The company sold 12 million shares in the IPO, up from previous expectations of 10 million shares, to raise $204 million. The company was valued at about $489.8 million at the IPO price. The stock has pulled back since it opened, to trade up just 1.6%. Athira’s public debut comes at the end of a busy week for IPOs, which was highlighted by Snowflake Inc.’s red-hot debut earlier this week. The Renaissance IPO ETF has rallied 20.1% over the past three months, while the S&P 500 has gained 7.3%.

Shares of Unity Sofware Inc. charged higher out of the gate Friday, as the first trade was 44% above the initial public offering price. The San Francisco-based videogames software company’s IPO priced late Thursday at $52 share, above the expected range of $44 to $48 a share, which was raised recently from $34 to $42 a share. The stock’s first trade on the NYSE was at $75.00 at 11:55 a.m. Eastern for 3.4 million shares. The company sold 25 million shares in the IPO to raise $1.3 billion. The company was valued at $13.7 billion at the IPO price. The stock has pared some gains since it opened, to trade up 42.6%. Unity’s public debut caps a busy week for IPOs, which was highlighted by Snowflake Inc.’s red-hot debut earlier this week. The Renaissance IPO ETF has rallied 20.0% over the past three months, while the S&P 500 has gained 7.4%.

That lofty valuation makes Chime the most valuable American fintech start-up serving retail consumers.