U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 1% on Friday.
The Dow traded down 0.56% to 45,765.84 while the NASDAQ fell 1.18% to 21,829.08. The S&P 500 also fell, dropping, 0.80% to 6,553.81.
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Leading and Lagging Sectors
Energy shares climbed by 1% on Friday.
In trading on Friday, consumer discretionary stocks fell by 1.3%.
Top Headline
Xpeng Inc – ADR (NYSE:XPEV) shares fell around 6% on Friday after the company reported worse-than-expected fourth-quarter sales results and issued soft first-quarter delivery guidance.
The company delivered 22.25 billion Chinese yuan ($3.18 billion) in quarterly revenue, a 38.2% year-over-year (Y/Y) jump that landed just shy of the $3.32 billion analyst consensus forecast.
Equities Trading UP
- Scholastic Corp (NASDAQ:SCHL) shares shot up 12% to $38.20 after the company reported better-than-expected third-quarter adjusted EPS results. Also, the company announced a $200 million share buyback.
- Shares of Co-Diagnostics Inc (NASDAQ:CODX) got a boost, surging 102% to $4.40 after the company announced that it has signed an agreement for its Indian joint venture with ASE Group, CoSara Diagnostics, to significantly expand its commercial and distribution territory across South Asia to now include Bangladesh, Pakistan, Nepal, and Sri Lanka.
- Planet Labs PBC (NYSE:PL) shares were also up, gaining 29% to $34.84 after the company reported better-than-expected fourth-quarter sales results and issued FY27 guidance above estimates.
Equities Trading DOWN
- Super Micro Computer Inc (NASDAQ:SMCI) shares dropped 27% to $22.46 after the company announced that the U.S. Attorney’s Office for the Southern District of New York has unsealed an indictment of three company associates in connection with an alleged conspiracy to commit export-control violations.
- Shares of Bark Inc (NYSE:BARK) were down 23% to $0.63 after the company announced that the Board’s Special Committee has decided that it’s in shareholders’ best interests to conclude the current review process without pursuing a transaction and to execute the company’s standalone strategy.
- Unusual Machines Inc (NYSE:UMAC) was down, falling 13% to $16.19 after the company announced the pricing of its $150 million offering of 8,823,529 shares at $17.00 per share.
CommoditiesIn commodity news, oil traded up 0.3% to $96.43 while gold traded up 1.1% at $4,654.70.
Silver traded up 0.3% to $71.420 on Friday, while copper fell 1% to $5.4170.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 rose 0.1%, while Spain's IBEX 35 Index rose 0.5%. London's FTSE 100 rose 0.1%, Germany's DAX fell 0.2% and France's CAC 40 fell 0.1% during the session.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Hong Kong's Hang Seng index falling 0.88%, China's Shanghai Composite falling 1.24% and India's BSE Sensex gaining 0.44%.
Economics
The Baker Hughes Oil Rig Count will be released today.
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