U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining over 100 points on Friday.
The Dow traded down 0.24%, dropping to 38,633.08 while the NASDAQ rose 0.81% to 15,921.72. The S&P 500 also rose, gaining 0.28% to 5,012.01.
Market Sectors Movement
On Friday, information technology shares rose by 1.2%, while consumer staples shares fell by 0.8%.
Top Market Headline
On Thursday, Pinterest, Inc. reported upbeat earnings for its fourth quarter, but unfortunately, sales missed estimates
Pinterest, Inc. sees first-quarter revenue in the range of $690 million to $705 million versus estimates of $702.36 million.
Stocks on the Rise
Intelligent Bio Solutions Inc. shares shot up 145% to $7.05 following second-quarter results.
Shares of Masonite International Corporation got a boost, surging 35% to $129.98 after Owens Corning announced it will acquire the company for $3.9 billion.
Cloudflare, Inc. shares were also up, gaining 22% to $110.19 after the company reported better-than-expected fourth-quarter financial results.
Stocks on the Decline
The Children’s Place, Inc. shares dropped 53% to $9.31 after the company reduced its sales forecast.
Shares of Synlogic, Inc. were down 52% to $1.65 after announcing operational changes.
EMCORE Corporation was down, falling 32% to $0.4297 after posting weak quarterly results.
Commodities Update
In commodity news, oil traded up 0.7% to $76.73 while gold traded down 0.4% at $2,038.90. Silver traded down 0.4% to $22.555 on Friday while copper fell 0.7% to $3.6775.
Euro Zone Markets
European shares were mostly lower on Friday. The eurozone’s STOXX 600 fell 0.32%, London’s FTSE 100 fell 0.50%, Spain’s IBEX 35 Index fell 0.39%, and the German DAX and the French CAC 40 also declined.
Asia Pacific Markets Overview
Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 0.09%, Hong Kong’s Hang Seng Index falling 0.83%, and India’s S&P BSE Sensex gaining 0.20%.
Economic Indicators
The CPI in the U.S. rose 0.2% month-over-month in December, compared to a 0.3% rise initially reported, according to revised figures from the BLS.
