U.S. stocks traded mixed this morning, with the Dow Jones gaining more than 100 points on Friday. Equity markets will close early on Black Friday, the day after Thanksgiving.
Following the market opening Friday, the Dow traded up 0.35% to 34,314.96 while the NASDAQ fell 0.55% to 11,223.57. The S&P 500 also fell, dropping, 0.02% to 4,026.64.
Leading and Lagging Sectors
Utilities shares rose by 0.7% on Friday. Leading the sector was strength from Companhia Energética de Minas Gerais CIG and Centrais Elétricas Brasileiras S.A. – Eletrobrás EBR.
In trading on Friday, information technology shares fell by 0.5%.
Top Headline
LightInTheBox Holding Co Ltd LITB reported better-than-expected revenue for its third quarter.
The company reported third-quarter FY22 sales growth of 22.6% year-on-year to $121 million, beating the consensus of $78.49 million. Earnings per ADS was $0.00 compared to a $(0.05) loss the prior year.
Equities Trading UP
- EUDA Health Holdings Limited EUDA shares shot up 50% to $4.01. 8i Acquisition 2 Corp. and EUDA Health Ltd recently completed business combination.
- Shares of Peak Bio, Inc. PKBO got a boost, shooting 35% to $6.41.
- Omeros Corporation OMER shares were also up, gaining 22% to $2.54. The company recently posted a narrower-than-expected quarterly loss.
Equities Trading DOWN
- Check-Cap Ltd. CHEK shares tumbled 24% to $3.53. Check-Cap recently announced a 1-for-20 reverse stock split.
- Shares of C4 Therapeutics, Inc. CCCC were down 14% to $6.77 after dropping 16% on Wednesday.
- Full Truck Alliance Co. Ltd. YMM was down, falling 11% to $6.20.
- Full Truck Alliance recently reported better-than-expected Q3 results.
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Commodities
In commodity news, oil traded down 1.8% to $78.62 while gold traded up 0.4% at $1,752.30.
Silver traded down 0.1% to $21.355 on Friday while copper rose 0.4% to $3.6330.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 fell 0.1%, London’s FTSE 100 rose 0.1% while Spain’s IBEX 35 Index rose 0.1%. The German DAX fell 0.1%, French CAC 40 fell 0.1% and Italy’s FTSE MIB Index fell 0.2%.
Manufacturing confidence in Italy climbed to 102.5 in November versus a revised 100.7 in the previous month, while consumer confidence rose by 8 points to 98.1 in November. Spain’s producer price inflation declined to 26.1% year-over-year in October. Consumer confidence in France rose to 83 in November from 82 a month ago.
The GfK Consumer Climate Indicator in Germany climbed to -40.2 heading into December compared to -41.9 in the prior month. The German economy grew by 0.4% on quarter in the third quarter. UK’s car production jumped 7.4% from a year ago to 69,524 units during October.
Asia Pacific Markets
Asian markets closed mixed on Friday, with the Japan’s Nikkei dropping 0.35% and Hong Kong’s Hang Seng Index falling 0.49%. China’s Shanghai Composite Index, however, rose 0.40%.
The People’s Bank of China reduced the reserve requirement ratio for financial institutions by 25bps, effective December 5th.
Economics
There were no major US economic releases Friday.
Check out this: Market Volatility Decreases Following Release Of Fed Minutes
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 100,431,050 cases with around 1,104,660 deaths. India confirmed a total of at least 44,671,800 cases and 530,600 deaths, while France reported over 37,4921340 COVID-19 cases with 158,510 deaths. In total, there were at least 645,035,470 cases of COVID-19 worldwide with more than 6,633,000 deaths.
Image and article originally from www.benzinga.com. Read the original article here.