U.S. stocks traded lower this morning, with the Dow Jones dropping around 150 points on Friday.

Following the market opening Friday, the Dow traded down 0.50% to 31,944.01 while the NASDAQ fell 0.52% to 11,726.02. The S&P 500, also fell, dropping, 0.53% to 3,927.90.

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Leading and Lagging Sectors

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US durable goods orders fell 1% month-over-month in February versus a revised 5% drop in January.

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Commodities

In commodity news, oil traded down 2.4% to $68.29 while gold traded up 0.2% at $ 2,000.60.

Silver traded up 1.3% to $23.555 on Friday while copper fell 1.1% to $4.0765.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 1.6%, London’s FTSE 100 fell 1.5% while Spain’s IBEX 35 Index tumbled 2.3%. The German DAX declined 2.1%, French CAC 40 dipped 2% and Italy’s FTSE MIB Index fell 2.3%.

The S&P Global Eurozone manufacturing PMI dropped to 47.1 in March versus a reading of 48.5 in February, while services PMI climbed to 55.6 from 52.7. The S&P Global German composite PMI climbed to 52.6 in March from 50.7 in the prior month, while French composite PMI jumped to 54 from 51.7.

The S&P Global/CIPS UK services PMI fell to 52.8 in March from 53.5 in February, while manufacturing PMI slipped to 48 from 49.3. Retail sales in the UK increased 1.2% month-over-month in February. Spanish gross domestic product grew by 0.2% quarter-over-quarter during the last three months of 2022.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan’s Nikkei 225 dropping 0.13%, Hong Kong’s Hang Seng Index falling 0.67% and China’s Shanghai Composite Index declining 0.64%. India’s S&P BSE Sensex fell 0.6%.

Japanese services PMI climbed to 54.2 in March versus a final reading of 54.0 in February, while manufacturing PMI rose to 48.6 from 47.7. The annual inflation rate in Japan eased to 3.3% in February compared to January's 41-year high level of 4.3%.

Economics

US durable goods orders fell 1% month-over-month in February versus a revised 5% drop in January.

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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 106,082,750 cases with around 1,153,520 deaths. India confirmed a total of at least 44,700,660 cases and 530,810 deaths, while France reported over 39,735,270 COVID-19 cases with 165,450 deaths. In total, there were at least 683,084,700 cases of COVID-19 worldwide with more than 6,824,490 deaths.