U.S. stocks traded lower this morning, with the Dow Jones dropping over 100 points on Friday.

Following the market opening Friday, the Dow traded down 0.36% to 32,908.29 while the NASDAQ fell 0.80% to 10,392.30. The S&P 500 also fell, dropping, 0.40% to 3,806.96.

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Leading and Lagging Sectors

In trading on Friday, information technology shares fell by 1.2%.

Top Headline

Personal spending rose 0.1% month-over-month in November, while personal consumption expenditure price index rose by 5.5% year-over-year in November. Personal income in the United States rose 0.4% from a month ago in November.

Equities Trading UP

Equities Trading DOWN

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Commodities

In commodity news, oil traded up 2.9% to $79.72 while gold traded up 0.3% at $1,800.60.

Silver traded up 0.8% to $23.805 on Friday while copper rose 0.3% to $3.7690.

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 0.3%. The German DAX dropped 0.2%, French CAC 40 fell 0.6% and Italy’s FTSE MIB Index slipped 0.1%.

Producer prices in Spain climbed 20.7% year-over-year in November, while the country’s quarterly economic growth was revised lower to 0.1% in the third quarter versus a preliminary reading of 0.2%. Producer prices in the French domestic markets increased 1.2% month-over-month in November.

Asia Pacific Markets

Asian markets closed lower on Friday, with the Japan’s Nikkei dropping 1.03% and Hong Kong’s Hang Seng Index falling 0.44%. China’s Shanghai Composite Index fell 0.28%.

Foreign direct investment into China surged 9.9% year-over-year to CNY 1.16 trillion during the first eleven months of the year. The core consumer price index in Japan rose 3.7% from a year ago in November.

Economics

• Personal spending rose 0.1% month-over-month in November, while personal consumption expenditure price index rose by 5.5% year-over-year in November. Personal income in the United States rose 0.4% from a month ago in November.
• Durable goods orders in the US dropped by 2.1% month-over-month in November.
• The University of Michigan consumer sentiment was revised higher to 59.7 in December from a preliminary reading of 59.1

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 102,048,470 cases with around 1,114,930 deaths. India confirmed a total of at least 44,677,590 cases and 530,680 deaths, while France reported over 39,025,730 COVID-19 cases with 160,870 deaths. In total, there were at least 659,881,370 cases of COVID-19 worldwide with more than 6,678,920 deaths.