U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 600 points on Friday.
Following the market opening Friday, the Dow traded down 0.31% to 52,181.28 while the NASDAQ fell 2.36% to 25,565.66. The S&P 500 also fell, dropping, 1.20% to 7,627.51.
Leading and Lagging Sectors
Consumer staples shares jumped by 2.2% on Friday.
In trading on Friday, information technology stocks fell by 3.3%.
Top Headline
Amazon.com Inc. (NASDAQ:AMZN) shares fell around 5% on Friday after the company reported weaker-than-expected financial results for the third quarter.
Amazon posted third-quarter revenue of $201.94 billion, missing the consensus estimate of $202.31 billion, according to Benzinga Pro. The company reported earnings of $1.89 per share for the quarter, missing estimates of $1.97 per share. Amazon expects fourth-quarter revenue to be between $240 billion and $247 billion versus estimates of $244.51 billion.
Equities Trading UP
- Smart Logistics Global Ltd (NASDAQ:SLGB) shares shot up 51% to $0.31 after the Hong Kong-based business-to-business contract logistics provider said Nasdaq gave it more time to meet listing requirements.
- Shares of TNL Mediagene (NASDAQ:TNMG) got a boost, surging 45% to $4.42. TNL Mediagene completed the sale of Japanese business in management buyout.
- Nuburu Inc (NYSE:BURU) shares were also up, gaining 40% to $0.52. Nuburu shares jumped 109% on Thursday after the company announced it regained NYSE compliance.
Equities Trading DOWN
- Acumen Pharmaceuticals Inc (NASDAQ:ABOS) shares dipped 85% to $0.35 after the company said its Phase 2 ALTITUDE-AD trial of sabirnetug in early Alzheimer’s disease missed its primary endpoint and key secondary endpoints.
- Shares of Solowin Holdings Ltd (NASDAQ:AXG) were down 44% to $2.08 after dipping 35% on Thursday.
- Alphatec Holdings Inc (NASDAQ:ATEC) was down, falling 36% to $7.32 after reporting weak third-quarter results.
Commodities
In commodity news, oil traded up 1.8% to $103.88 while gold traded down 1.7% at $3,964.80.
Silver traded down 4.4% to $50.075 on Friday, while copper fell 1.2% to $6.5250.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 declined 0.3%, while Spain’s IBEX 35 Index fell 0.8%, London’s FTSE 100 gained 0.2%, Germany’s DAX declined 0.8%, while France’s CAC 40 rose 0.1%.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan’s Nikkei 225 dipping 2.12%, Hong Kong’s Hang Seng index gaining 1.46%, China’s SSE Composite Index declining 1.44% and India’s BSE Sensex gaining 0.42%.
Economics
U.S. employments costs rose by 0.8% in the third quarter following a 0.9% rise in the previous period.
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