U.S. stocks saw a slight dip in trading this morning, with the Dow slipping 0.06% to 39,758.88, the NASDAQ down 0.10% to 16,385.60, and the S&P 500 falling 0.01% to 5,241.33.
Utilities shares surged by 0.5% while consumer discretionary shares dropped by 0.9%.
Market Movements
In the earnings spotlight, FedEx Corporation reported impressive results for its third quarter, beating estimates with earnings of $3.86 per share and quarterly sales of $21.7 billion. The company also announced a new $5 billion share repurchase program.
Stocks on the Rise
Murano Global Investments PLC shares soared 152%, Nova LifeStyle, Inc. surged 106%, and BIOLASE, Inc. climbed 63% after reporting strong earnings.
Stocks on the Decline
BYND Cannasoft Enterprises Inc. shares fell 38% due to a reverse stock split, while Sintx Technologies, Inc. and Ispire Technology Inc. saw declines after public offering announcements.
Commodities Update
Oil prices inched up to $81.13, while gold slid to $2,168.00. Silver and copper also saw minor declines on Friday.
Global Markets Overview
European markets showed mixed performance, with the eurozone’s STOXX 600 and London’s FTSE 100 rising, and Spain’s IBEX 35 Index and France’s CAC 40 experiencing fluctuations. In Asia, markets closed with varied results, including gains in Japan’s Nikkei 225 and losses in Hong Kong’s Hang Seng Index and China’s Shanghai Composite Index.
Economic Indicators
Looking ahead, the Baker Hughes rig count report is set to be released at 1:00 p.m. ET, offering further insights into market dynamics.
