U.S. stocks traded lower this morning, with the Nasdaq Composite falling by more than 200 points on Friday.

Following the market opening Friday, the Dow traded down 0.39% to 43,580.74 while the NASDAQ fell 1.28% to 18,862.83. The S&P 500 also fell, dropping, 0.72% to 5,906.49.

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Leading and Lagging Sectors

Financials shares rose by 0.6% on Friday.

In trading on Friday, information technology shares fell by 1.4%.

Top Headline

Alibaba Group Holding Limited (NYSE:BABA) reported better-than-expected fiscal second-quarter print.

The Jack Ma co-founded e-commerce giant reported fiscal second-quarter 2024 revenue growth of 5% year-on-year to $33.70 billion, beating the analyst consensus estimate of $33.47 billion. Adjusted earnings per ADS of $2.15 missed the analyst consensus estimate of $2.26.

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Equities Trading DOWN

Commodities

In commodity news, oil traded down 0.3% to $68.51 while gold traded up 0.2% at $2,577.30.

Silver traded up 0.6% to $30.760 on Friday, while copper rose 0.9% to $4.1240.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.6%, Germany's DAX fell 0.3% and France's CAC 40 fell 0.3%. Spain's IBEX 35 Index gained 0.9%, while London's FTSE 100 fell 0.1%.

The annual inflation rate in Italy increased to 0.9% in October versus 0.7% in the prior month, while France’s annual inflation rate rose to 1.2% in October. The GDP in the UK grew by 1% year-over-year during the third quarter.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei 225 gaining 0.28%, Hong Kong's Hang Seng Index falling 0.05% and China's Shanghai Composite Index dipping 1.45%.

Hong Kong's economy expanded by 1.8% year-over-year in the third quarter compared to a 3.2% increase in the previous period. China’s retail sales rose by 4.8% year-over-year in October, while industrial production rose by 5.3% year-over-year in October.

Economics

• The NY Empire State Manufacturing Index surged to 31.2 in November versus -11.9 in the previous month and topping market estimates of -0.7.
• U.S. export prices increased by 0.8% in October, while import prices rose by 0.3% month-over-month in October.
• U.S. retail sales rose 0.4% month-over-month in October compared to a revised 0.8% increase in September, and toping market estimates of 0.3%.

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