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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
Energy shares rose by 1.4% on Friday. Meanwhile, top gainers in the sector included HighPeak Energy, Inc. HPK, up 4%, and Hallador Energy Company HNRG, up 9%.
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
- Omeros Corporation OMER shares shot up 26% to $3.2050. Omeros, last month, posted a narrower-than-expected quarterly loss.
- Shares of ORIC Pharmaceuticals, Inc. ORIC got a boost, shooting 11% to $5.32. ORIC Pharmaceuticals recently announced it entered into a clinical development collaboration for a potential Phase 2 study of ORIC-533 in multiple myeloma with Pfizer and agreed to sell about 5.38 million of its common shares at a price of $4.65 per share to Pfizer for proceeds of approximately $25 million.
- Hallador Energy Company HNRG shares were also up, gaining 11% to $10.84.
Equities Trading DOWN
- MingZhu Logistics Holdings Limited YGMZ shares tumbled 52% to $1.70. MingZhu Logistics recently announced a $34 million transportation agreement with Xinjiang Tianfu Yitong Supply Chain Management.
- Shares of Dragonfly Energy Holdings Corp. DFLI were down 25% to $11.22. Dragonfly Energy recently secured a patent from the United States Patent and Trademark Office (USPTO).
- Kalera Public Limited Company KAL was down, falling 14% to $8.27. On December 22, 2022, Kalera shareholders approved a 1-for-100 reverse stock split.
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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.
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Image and article originally from www.benzinga.com. Read the original article here.