U.S. stocks traded lower this morning, with the Dow Jones dropping more than 100 points on Friday.
Following the market opening Friday, the Dow traded down 0.37% to 29,927.92 while the NASDAQ fell 1.44% to 10,495.56. The S&P 500 also fell, dropping, 0.98% to 3,634.00.
Also check this: Market Volatility Declines Following US Inflation Data
Leading and Lagging Sectors
Health care shares fell by just 0.4% on Friday. Leading the sector was strength from Reata Pharmaceuticals, Inc. RETA and Valneva SE VALN.
In trading on Friday, energy shares dipped by 2.9%.
US retail trade came in unchanged for September, missing market estimates for a 0.2% rise.
Equities Trading UP
- Gravitas Education Holdings, Inc. GEHI shares shot up 78% to $26.65.
- Shares of Avenue Therapeutics, Inc. ATXI got a boost, shooting 43% to $3.4806. Avenue Therapeutics recently priced a roughly 3.6 million unit offering at $3.30 per unit.
- IMARA Inc. IMRA shares were also up, gaining 35% to $3.47 after the company, along with Enliven Therapeutics, announced a merger agreement to combine the two companies in an all-stock transaction.
Equities Trading DOWN
- First Republic Bank FRC shares tumbled 17% to $112.18 after the company reported mixed Q3 results.
- Shares of ACM Research, Inc. ACMR were down 12% to $8.32. Shares of several companies in the broader technology sector traded lower amid a rise in treasury yields, which has pressured growth stocks.
- Fathom Holdings Inc. FTHM was down, falling 13% to $3.84.
In commodity news, oil traded down 3.1% to $86.35, while gold traded down 1.2% at $1,656.30.
Silver traded down 2.7% to $18.415 on Friday while copper fell 0.3% to $3.4305.
European shares were higher today. The eurozone’s STOXX 600 rose 0.7%, London’s FTSE 100 rose 0.4% while Spain’s IBEX 35 Index rose 0.4%. The German DAX climbed 0.9%, French CAC 40 rose 1.2% and Italy’s FTSE MIB Index gained 0.9%.
The annual inflation rate in Spain fell to 8.9% in September from 10.5% in the prior month, while annual inflation rate in France eased to 5.6% in September from 5.9% in the previous month. Wholesale prices in Germany rose by 19.9% year-over-year in September.
- US retail trade came in unchanged for September, missing market estimates for a 0.2% rise.
- Import prices in the US fell by 1.2% from a month ago in September, while export prices dropped 0.8% in September.
- US business inventories increased 0.8% from a month ago in September.
- The University of Michigan consumer sentiment climbed to 59.8 in September, recording the highest level in six months, compared to 58.6 in the prior month.
- Federal Reserve Governor Lisa Cook will speak at 10:30 a.m. ET.
- The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 98,779,940 cases with around 1,089,910 deaths. India confirmed a total of at least 44,623,990 cases and 528,850 deaths, while France reported over 36,102,540 COVID-19 cases with 155,730 deaths. In total, there were at least 629,035,400 cases of COVID-19 worldwide with more than 6,568,520 deaths.
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