Toward the end of trading Friday, the Dow traded down 0.86 percent to 17,754.26 while the NASDAQ slipped 0.53 percent to 4,711.18. The S&P also fell, dropping 0.77 percent to 2,046.30.
Leading and Lagging Sectors
On Friday, the telecommunications services sector proved to be a source of strength for the market. Leading the sector was strength from RRSat Global Communications Network Ltd. RRST and China Unicom (Hong Kong) Limited CHU.
Top Headline
Infosys Ltd. INFY reported a 13% gain in net profit for the three months ended Dec. 31. The company also maintained its revenue growth forecast for the year.
Equities Trading UP
Agenus Inc. AGEN shares shot up 32.12 percent to $5.43 after the company announced a partnership with Incyte.
Shares of Infosys Ltd. INFY got a boost, shooting up 4.39 percent to $33.52 after the company reported higher net profit for the three months ended Dec. 31. The company also maintained its revenue growth forecast for the year.
Acuity Brands, Inc. AYI shares were also up, gaining 6.15 percent to $150.74 after the company reported better-than-expected earnings for the fiscal first quarter.
Equities Trading DOWN
Star Bulk Carriers Corp. SBLK shares tumbled 23.78 percent to $4.98 after the company priced 49 million share offering at $5 per share.
Shares of Five Below, Inc. FIVECommodities
In commodity news, oil traded down 0.41 percent to $48.59, while gold traded up 0.86 percent to $1,218.90.
Euro zone
European shares closed lower today. The eurozone’s STOXX 600 fell 1.29 percent, the Spanish Ibex Index dropped 3.91 percent, while Italy’s FTSE MIB Index tumbled 3.27 percent. Meanwhile, the German DAX fell 1.92 percent, and the French CAC 40 declined 1.90 percent while UK shares slipped 1.05 percent.
Economics
The U.S. economy added 252,000 jobs in December, while the unemployment rate shrank to 5.6% from 5.8%. However, economists were expecting an addition of 230,000 nonfarm jobs.
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