U.S. stocks traded lower midway through trading, with the Nasdaq Composite dropping more than 200 points on Friday.
The Dow traded down 0.74% to 29,817.07 while the NASDAQ fell 2.09% to 10,426.14. The S&P 500 also fell, dropping, 1.59% to 3,611.60.
Also check this: Market Volatility Declines Following US Inflation Data
Leading and Lagging Sectors
Health care shares fell by just 0.6% on Friday. Leading the sector was strength from Reata Pharmaceuticals, Inc. RETA and Zymeworks Inc. ZYME.
In trading on Friday, energy shares dipped by 2.6%.
US retail trade came in unchanged for September, missing market estimates for a 0.2% rise.
Equities Trading UP
- Rubicon Technologies, Inc. RBT shares shot up 31% to $1.85. Rubicon Technologies appointed Phil Rodoni as CEO.
- Shares of Nutanix, Inc. NTNX got a boost, shooting 23% to $26.09 following a WSJ report indicating the company is exploring a sale after receiving takeover interest.
- IMARA Inc. IMRA shares were also up, gaining 34% to $3.46 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 15% to $115.10 after the company reported mixed Q3 results.
- Shares of Morgan Stanley MS were down 4% to $76.05 after the company reported Q3 EPS and sales results down from last year.
- Novo Integrated Sciences, Inc. NVOS was down, falling 54% to $0.3420 after the company announced pricing of $2 million public offering of 4 million units at $0.50 per unit.
In commodity news, oil traded down 2.8% to $86.59, while gold traded down 1.5% at $1,652.70.
Silver traded down 3.3% to $18.30 on Friday while copper fell 0.4% to $3.4265.
European shares were higher today. The eurozone’s STOXX 600 rose 0.58%, London’s FTSE 100 rose 0.3% while Spain’s IBEX 35 Index rose 0.52%. The German DAX climbed 0.83%, French CAC 40 rose 1.09% and Italy’s FTSE MIB Index gained 0.92%.
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.
- 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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