S&P 500 top movers: Incyte Corp (INCY) surges above $102, gains nearly 5%

Major equity indexes in the US trade in the negative territory.
Incyte Corp (INCY) trades at its highest level since early June.
Cruise liner stocks suffer heavy losses as trips to US post gets cancelled until mid-September.

Eren Sengezer FXStreet

Wall Street's main indexes started the day around 1% higher but turned south as investors don't seem to be eager to take new positions ahead of the weekend. As of writing, the S&P 500 is down 0.64% on the day at 3,095 points while the Dow Jones Industrial Average and the Nasdaq Composite are losing 0.8% and 0.25%, respectively.

S&P 500 top movers

The global biopharmaceutical company Incyte Corp (INCY), which closed the first four days of the week in the positive territory and gained nearly 5% during that period, is up 4.9% as the top-performer on Friday. As of writing, INCY was trading at its highest level since early June at $102.13.

On the other hand, the Cruise Lines International Association announced on Friday that major cruise lines decided to suspend all trips to US ports until September 15th. Pressured by this development, Norwegian Cruise Line Holdings Ltd (NCLH), Royal Caribbean Cruises Ltd (RCL) and Carnival Corp (CCL) are down 8%, 7.5% and 6.4% on the day.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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