U.S. stocks traded mostly lower toward the end of trading with the Dow Jones dropping 100 points on Friday
The Dow traded down 0.30% to 33,679.02 while the NASDAQ rose 0.01% to 11,082.17. The S&P 500 also fell, dropping, 0.12% to 3,958.72.
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Leading and Lagging Sectors
Communication services shares rose by 1% on Friday. Meanwhile, top gainers in the sector included HUYA Inc. HUYA, up 26%, and Hello Group Inc. MOMO, up 33%.
In trading on Friday, energy shares fell by 1.8%.
The University of Michigan consumer sentiment rose to 59.1 in December from 56.8 in the previous month.
Equities Trading UP
- ClearOne, Inc. CLRO shares shot up 111% to $1.70 after the company and Shure Incorporated announced they reached a global settlement of all pending legal disputes.
- Shares of Arcellx, Inc. ACLX got a boost, shooting 25% to $27.00. Kite, a Gilead Sciences Inc company, announced a global strategic collaboration to co-develop and co-commercialize Arcellx’s lead late-stage product candidate, CART-ddBCMA, for relapsed or refractory multiple myeloma. Arcellx also announced interim CART-ddBCMA Phase 1 results (October 31, 2022 cutoff date), demonstrating deep and durable responses.
- Ambrx Biopharma Inc. AMAM shares were also up, gaining 529% to $2.58 after the company announced preliminary Phase 2 results from its ACE-Breast-03 study showing a 57.1% overall response rate.
Equities Trading DOWN
- Getaround Inc. GETR shares tumbled 65% to $3.09. Getaround reported closing of business combination with InterPrivate II Acquisition Corp.
- Shares of Grom Social Enterprises, Inc. GROM were down 66% to $1.33. Grom Social Enterprises priced $5 million public offering of 1,415,682 units at a price of $2.89 per unit
- Autolus Therapeutics plc AUTL was down, falling 36% to $1.91 after the company announced pricing of a public offering. The company’s Phase 2 pivotal FELIX trial of obecabtagene autoleucel (obe-cel) in relapsed/refractory (r/r) adult Acute Lymphoblastic Leukemia (ALL) has met its primary endpoint of Overall Remission Rate (ORR).
In commodity news, oil traded down 0.1% to $71.36 while gold traded up 0.6% at $1,812.80.
Silver traded up 2.3% to $23.785 on Friday while copper fell 0.1% to $3.8795.
European shares closed higher today. The eurozone’s STOXX 600 gained 0.84%, London’s FTSE 100 rose 0.06% while Spain’s IBEX 35 Index rose 0.78%. The German DAX gained 0.74%, French CAC 40 rose 0.46% and Italy’s FTSE MIB Index rose 0.29%.
Industrial production in Spain increased by 2.5% year-over-year in October versus a 3.6% rise in the prior month.
Asia Pacific Markets
Asian markets closed higher on Friday, with the Japan’s Nikkei gaining 1.18% and Hong Kong’s Hang Seng Index jumping 2.32%. China’s Shanghai Composite Index rose 0.30%.
Auto sales in China dipped by 7.9% year-over-year to 2.33 million units in November following a 6.9% increase in the previous month. China's annual inflation eased to 1.6% year-over-year in November from 2.1% a month ago, while producer prices declined 1.3% year-over-year in November.
- The Producer Price Index for final demand in the US increased 0.3% month-over-month in November, compared to the revised 0.3% rise in the previous month and above market expectations of 0.2%.
- Wholesale inventories in the US rose by 0.5% from a month ago to $923.8 billion in October.
- The University of Michigan consumer sentiment rose to 59.1 in December from 56.8 in the previous month.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 101,213,630 cases with around 1,109,390 deaths. India confirmed a total of at least 44,675,500 cases and 530,650 deaths, while France reported over 38,331,430 COVID-19 cases with 159,510 deaths. In total, there were at least 652,454,520 cases of COVID-19 worldwide with more than 6,654,870 deaths.
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