U.S. stocks traded mixed, with the Dow Jones gaining over 150 points on Friday. Equity markets will close early today.
The Dow traded up 0.47% to 34,355.18 while the NASDAQ fell 0.53% to 11,225.59. The S&P 500 also fell, dropping, 0.02% to 4,026.40.
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Leading and Lagging Sectors
Utilities shares rose by 0.7% on Friday. Leading the sector was strength from Azure Power Global Limited AZRE and Central Puerto S.A. CEPU.
In trading on Friday, information technology shares fell by 0.4%.
LightInTheBox Holding Co Ltd LITB reported better-than-expected revenue for its third quarter.
The company reported third-quarter FY22 sales growth of 22.6% year-on-year to $121 million, beating the consensus of $78.49 million. Earnings per ADS was $0.00 compared to a $(0.05) loss the prior year.
Equities Trading UP
- EUDA Health Holdings Limited EUDA shares shot up 50% to $4.0521. 8i Acquisition 2 Corp. and EUDA Health Ltd recently completed business combination.
- Shares of Canoo Inc. GOEV got a boost, shooting 12% to $1.2071. Canoo Director, Executive Chairman and CEO Tony Aquila acquired a total of 9,009,009 shares at an average price of $1.11.
- VEON Ltd. VEON shares were also up, gaining 29% to $0.60 after the company agreed to sell its Russian business, Vimpelcom for 130 billion roubles ($2.2 billion).
Equities Trading DOWN
- Check-Cap Ltd. CHEK shares tumbled 13% to $4.02. Check-Cap recently announced a 1-for-20 reverse stock split.
- Shares of Lufax Holding Ltd LU were down 23% to $1.3550 after the company posted weaker-than-expected earnings for its third quarter.
- Kalera Public Limited Company KAL was down, falling 30% to $0.1132 after jumping around 77% on Wednesday. Kalera recently posted a Q3 loss of $0.05 per share.
In commodity news, oil traded up 0.4% to $78.28 while gold traded up 0.2% at $ 1,749.70.
Silver traded down 0.1% to $21.345 on Friday while copper rose 0.1% to $3.6215.
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.2%, London’s FTSE 100 rose 0.1% while Spain’s IBEX 35 Index fell 0.03%. The German DAX fell 0.13%, French CAC 40 fell 0.13% and Italy’s FTSE MIB Index fell 0.25%.
Manufacturing confidence in Italy climbed to 102.5 in November versus a revised 100.7 in the previous month, while consumer confidence rose by 8 points to 98.1 in November. Spain's producer price inflation declined to 26.1% year-over-year in October. Consumer confidence in France rose to 83 in November from 82 a month ago.
The GfK Consumer Climate Indicator in Germany climbed to -40.2 heading into December compared to -41.9 in the prior month. The German economy grew by 0.4% on quarter in the third quarter. UK’s car production jumped 7.4% from a year ago to 69,524 units during October.
Asia Pacific Markets
Asian markets closed mixed on Friday, with the Japan’s Nikkei dropping 0.35% and Hong Kong’s Hang Seng Index falling 0.49%. China’s Shanghai Composite Index, however, rose 0.40%.
The People's Bank of China reduced the reserve requirement ratio for financial institutions by 25bps, effective December 5th.
There were no major US economic releases Friday.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 100,431,050 cases with around 1,104,660 deaths. India confirmed a total of at least 44,671,800 cases and 530,600 deaths, while France reported over 37,4921340 COVID-19 cases with 158,510 deaths. In total, there were at least 645,035,470 cases of COVID-19 worldwide with more than 6,633,000 deaths.
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