U.S. stocks traded lower toward the end of trading, with the Dow Jones falling around 100 points on Friday.
The Dow traded down 0.29% to 34,294.69 while the NASDAQ fell 0.78% to 11,393.43. The S&P 500 also fell, dropping, 0.55% to 4,054.11.
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Leading and Lagging Sectors
Materials shares rose by 0.9% on Friday. Leading the sector was strength from Ivanhoe Electric Inc. IE and GoldMining Inc. GLDG.
In trading on Friday, information technology shares fell by 1.1%.
The US economy unexpectedly added 263,000 jobs in November, following a revised 284,000 gain in October and also surpassing market estimates of 200,000.
The unemployment rate came in unchanged at 3.7% in November, while average hourly earnings increased by 0.6% to $32.82 in November.
Equities Trading UP
- Samsara Inc. IOT shares shot up 22% to $12.12 after the company reported better-than-expected Q3 results and issued FY23 guidance above estimates.
- Shares of Rigel Pharmaceuticals, Inc. RIGL got a boost, shooting 34% to $0.9143 after the company reported FDA approval of REZLIDHIA for the treatment of adult patients with relapsed or refractory acute myeloid leukemia with a susceptible IDH1 mutation.
- Anavex Life Sciences Corp. AVXL shares were also up, gaining 36% to $12.02 after the company announced the ANAVEX2-73 Phase 2B/3 study met primary and key secondary endpoints, showing a statistically significant reduction of clinical decline in study of patients with early Alzheimer's disease.
Equities Trading DOWN
- Theratechnologies Inc. THTX shares tumbled 33% to $1.4234 after the company announced it decided to pause the enrollment of patients in its Phase 1 clinical trial of TH1902.
- Shares of Asana, Inc. ASAN were down 12% to $16.00 after the company issued Q4 and FY23 sales guidance below estimates.
- RedHill Biopharma Ltd. RDHL was down, falling 29% to $0.2587 after the company priced an $8 million underwritten public offering.
In commodity news, oil traded up 0.4% to $81.52 while gold traded down 0.3% at $1,809.40.
Silver traded up 2.5% to $23.40 on Friday while copper rose 0.7% to $3.8430.
European shares closed mostly lower today. The eurozone’s STOXX 600 fell 0.15%, London’s FTSE 100 fell 0.03% while Spain’s IBEX 35 Index fell 0.3%. The German DAX gained 0.27%, French CAC 40 fell 0.17% and Italy’s FTSE MIB Index fell 0.26%.
Producer prices in the Eurozone declined 2.9% from a month ago in October versus a 1.6% increase in the previous month. French government budget deficit widened to EUR 143.2 billion in January-October compared to EUR 171.6 billion in the year-ago period. Industrial production in France dropped by 2.6% from the earlier month in October.
The trade surplus in Germany narrowed to €5.3 billion in October from €12.5 billion in the year-ago period.
Asia Pacific Markets
Asian markets closed lower on Friday, with the Japan’s Nikkei dropping 1.59% and Hong Kong’s Hang Seng Index falling 0.33%. China’s Shanghai Composite Index dropped 0.29%.
Retail sales in Australia dropped by 0.2% from a month ago to AUD 35.02 billion in October versus a growth of 0.6% in September.
- The US economy unexpectedly added 263,000 jobs in November, following a revised 284,000 gain in October and also surpassing market estimates of 200,000. The unemployment rate came in unchanged at 3.7% in November, while average hourly earnings increased by 0.6% to $32.82 in November.
- The total number of active U.S. oil rigs came in unchanged at 627 rigs this week, Baker Hughes Inc reported
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 100,743,390 cases with around 1,106,370 deaths. India confirmed a total of at least 44,673,980 cases and 530,620 deaths, while France reported over 37,916,050 COVID-19 cases with 159,020 deaths. In total, there were at least 648,749,110 cases of COVID-19 worldwide with more than 6,642,930 deaths.
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