U.S. stocks traded lower midway through trading, with the S&P 500 falling more than 100 points on Friday.
The Dow traded down 0.72% to 51,966.13 while the NASDAQ fell 2.48% to 25,535.98. The S&P 500 also fell, dropping, 1.55% to 7,600.96.
Leading and Lagging Sectors
Energy shares jumped by 1.9% on Friday.
In trading on Friday, information technology stocks fell by 3.7%.
Top Headline
ExxonMobil Holdings Corporation (NYSE:XOM) reported better-than-expected third-quarter earnings and revenue.
ExxonMobil reported third-quarter adjusted earnings of $4.23 per share, beating analysts’ consensus estimate of $4.08. Revenue reached $113.16 billion, topping Wall Street’s estimate of $103.10 billion.
Equities Trading UP
- Onespan Inc (NASDAQ:OSPN) shares shot up 27% to $25.66 after the company reported better-than-expected third-quarter financial results and raised its FY26 guidance above estimates.
- Shares of Grid Dynamics Holdings Inc (NASDAQ:GDYN) got a boost, surging 26% to $12.00 following strong quarterly results.
- Rimini Street Inc (NASDAQ:RMNI) shares were also up, gaining 23% to $4.90 after the company reported better-than-expected quarterly sales results.
Equities Trading DOWN
- Arbor Realty Trust Inc (NYSE:ABR) shares dipped 27% to $2.21 after the company reported worse-than-expected third-quarter financial results. Also, the company suspended its quarterly common dividend.
- Shares of Intel Corp (NASDAQ:INTC) were down 29% to $65.63 after the company reported third-quarter financial results and issued fourth-quarter guidance below estimates.
- Alphatec Holdings Inc (NASDAQ:ATEC) was down, falling 34% to $7.55 after reporting weak third-quarter results.
Commodities
In commodity news, oil traded up 2.1% to $104.11 while gold traded down 3.1% at $3,905.70.
Silver traded down 5.9% to $49.27 on Friday, while copper fell 1.3% to $6.5155.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 declined 0.2%, while Spain’s IBEX 35 Index fell 0.8%, London’s FTSE 100 gained 0.2%, Germany’s DAX declined 0.6%, 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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