Nasdaq Dips Over 2%; Apple Earnings Top Views

U.S. stocks traded lower this morning, with the Nasdaq Composite dipping more than 2% on Friday.

Following the market opening Friday, the Dow traded down 1.50% to 43,468.44 while the NASDAQ dipped 2.22% to 20,653.99. The S&P 500 also fell, dropping, 1.71% to 6,231.17.

Check This Out: Top 2 Risk Off Stocks That May Keep You Up At Night This Month

Leading and Lagging Sectors

Consumer staples shares jumped by 0.7% on Friday.

In trading on Friday, consumer discretionary stocks dipped by 3.7%.

Top Headline

Apple Inc. AAPL posted stronger-than-expected third-quarter results.

The iPhone maker reported fiscal third-quarter revenue of $94 billion, beating analyst estimates of $89.04 billion by 5.6%. Earnings per share came in at $1.57, surpassing the consensus estimate of $1.42 per share, according to Benzinga Pro data.

Equities Trading UP

Tenon Medical, Inc. TNON shares shot up 119% to $2.1936 after the company announced the acquisition of sacroiliac joint‑specific assets from SiVantage.
Shares of Performant Healthcare, Inc. PHLT got a boost, surging 115% to $7.63 after Machinify agreed to acquire the company for $670 million.
Lobo EV Technologies Ltd. LOBO shares were also up, gaining 88% to $0.6746.

Equities Trading DOWN

Trending Investment Opportunities

Safe & Green Holdings Corp. SGBX shares dropped 60% to $0.2353 after falling 14% on Thursday.
Shares of Silexion Therapeutics Corp SLXN were down 44% to $8.34 after the company announced exercise of warrants for $1.8 million gross proceeds.
TTEC Holdings, Inc. TTEC was down, falling 35% to $3.23. TTEC Holdings will release its second-quarter earnings results after the closing bell on Thursday, Aug. 7.

Commodities

In commodity news, oil traded down 1.9% to $67.97 while gold traded up 1.7% at $3,403.80.

Silver traded up 0.7% to $36.960 on Friday, while copper rose 0.9% to $4.3935.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 2%, while Spain's IBEX 35 Index dipped 2.1%. London's FTSE 100 fell 1%, Germany's DAX 40 declined 2.7% and France's CAC 40 fell 3% during the session.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei 225 falling 0.66%, Hong Kong's Hang Seng falling 1.07%, China's Shanghai Composite dipping 0.37% and India's BSE Sensex falling 0.72%.

Economics

U.S. construction spending declined by 0.4% from the previous month to an annualized rate of $2.136 trillion in June.
The ISM manufacturing PMI declined to 48 in July compared to 49 in June, missing market estimates of 49.5.
The University of Michigan's consumer sentiment index slipped to 61.7 in July compared to the preliminary reading of 61.8.
The S&P Global manufacturing PMI was revised higher to 49.8 in July versus a preliminary reading of 49.5.

Now Read This: