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Ukraine Imposes Sanctions Against Putin, Kremllin Officials

Pre-market Movers: GTIM, BTMD, SGHC, JOAN, OKTA…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 06.45 A.M. ET).

In the Green

Good Times Restaurants Inc. (GTIM) is up over 51% at $4.53
Haymaker Acquisition Corp. III (BTMD) is up over 21% at $6.54
Super Group (SGHC) Limited (SGHC) is up over 19% at $8.26
Okta, Inc. (OKTA) is up over 18% at $110.74
StoneCo Ltd. (STNE) is up over 16% at $12.18
Edible Garden AG Incorporated (EDBL) is up over 14% at $2.04
TransMedics Group, Inc. (TMDX) is up over 12% at $31.95
SI-BONE, Inc. (SIBN) is up over 9% at $17.05
Kohl’s Corporation (KSS) is up over 8% at $44.53
The Duckhorn Portfolio, Inc. (NAPA) is up over 7% at $21.50
EMX Royalty Corporation (EMX) is up over 7% at $2.36

In the Red

JOANN Inc. (JOAN) is down over 19% at $6.38
Lantheus Holdings, Inc. (LNTH) is down over 8% at $64.97
Co-Diagnostics, Inc. (CODX) is down over 8% at $4.83
Asana, Inc. (ASAN) is down over 5% at $22.90
Weber Inc. (WEBR) is down over 5% at $7.45

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Gold Edges Lower Ahead Of US Inflation Data

Gold prices inched lower on Friday and the dollar index clung to gains as investors braced for U.S. consumer inflation data due out later in the day that could influence the Federal Reserve’s rate-hike roadmap for fighting inflation.

Spot gold slipped 0.3 percent to $1,843.15 per ounce, while U.S. gold futures were down 0.4 percent at $1,845.25.

The annual rate of consumer price growth is expected to hold at 8.3 percent in May, while the annual rate of core consumer price growth is expected to slow to 5.9 percent from 6.2 percent.

A strong reading is likely to give the Federal Reserve more room to be aggressive. Expectations are that the Fed will hike by half a point for at least three more meetings before January.

Elsewhere, China’s loan growth rebounded in May and inflation cooled, helping offset fresh concerns surrounding the mass testing announcements in Shanghai.

China said it will reimpose Covid-19 lockdowns in eight out of 16 of Shanghai’s districts after the country’s largest economic hub recorded a cluster outbreak of COVID-19.

Parts of Beijing have also reimposed some restrictions, raising fears of reduced demand from the world’s largest crude importer.

China’s factory-gate inflation rose an annual 6.4 percent last month, marking the weakest pace since March 2021, National Bureau of Statistics data showed. Consumer inflation added 2.1 percent, unchanged from April.

Oil Edges Higher In Cautious Trade

Oil prices inched higher on Friday and were set for seventh weekly gain on expectations that demand would outstrip supply in the foreseeable future.

Benchmark Brent crude futures edged up 0.3 percent to $123.2 a barrel, while WTI crude futures were up 0.3 percent at $121.86.

Brent was on track for a fourth consecutive weekly gain and WTI for a seventh straight weekly increase after having hit their highest closes since March 8 earlier this week.

Today’s gains remained modest as the mass testing announcements in Shanghai sparked fears of a return to stringent, prolonged lockdowns.

China said it will reimpose Covid-19 lockdowns in eight out of 16 of Shanghai’s districts after the country’s largest economic hub recorded a cluster outbreak of COVID-19.

Parts of Beijing have also reimposed some restrictions, raising fears of reduced demand from the world’s largest crude importer.

Meanwhile, after the ECB delivered a hawkish guidance, investors now await the release of U.S. consumer inflation data later in the day that could influence the Federal Reserve’s rate-hike roadmap for fighting inflation.

The annual rate of consumer price growth is expected to hold at 8.3 percent in May, while the annual rate of core consumer price growth is expected to slow to 5.9 percent from 6.2 percent.

Ukraine Imposes Sanctions Against Putin, Kremllin Officials

Ukraine has imposed sanctions against Russian President Vladimir Putin and top Kremlin officials.

The sanctions, announced by Ukrainian President Volodymyr Zelensky on Thursday, targets Kremlin spokesman Dmitry Peskov, Russian Prime Minister Mikhail Mishustin and his deputies, all ministers, and Secretary of the Security Council of Russia Nikolai Patrushev.

A presidential decree signed by Zelensky blocks the assets of the designated individuals and bans their entry into Ukraine.

The sanctions also cancel or suspend the licenses and permits of the targeted persons.

Meanwhlie, Valentyn Reznichenko, head of Ukraine’s Dnipropetrovsk region military administration, said that dozens of civilians were killed as Russian military shelled civilian infrastructure in Kryvyi Rih, Zelenodolsk and Shyrokiv.

Five people were killed and 14 were injured in Russian attacks in Kharkiv.

Ukrainian forces are fighting a fierce battle for the key eastern city of Severodonetsk. The city is now mostly under the control of the Russian forces.

Zelensky said Ukrainian forces are holding on to key frontline cities in Donbas.

“Severodonetsk, Lysychansk, and other cities in Donbas, which the occupiers now consider key targets, are holding on,” he said in an address to the nation Thursday night.