Dow Surges Over 150 Points; Nasdaq Down 0.5%

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.

Also check this: Citi Turns Bullish On Tesla; Here's A Look At Other Price Target Changes By The Most Accurate Analysts

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%.

Top Headline


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.

Also check out: Credit Suisse, Autodesk And Other Big Losers From Wednesday


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.

Euro zone

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.


Check out this: Market Volatility Decreases Following Release Of Fed Minutes

COVID-19 Update

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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