U.S. stocks end Friday with a mixed performance, as the Nasdaq Composite plummets over 50 points.
The Dow trades up 0.05% to 38,069.66 while the NASDAQ falls 0.4% to 15,447.78. The S&P 500 also falls, dropping 0.15% to 4,886.79.
Leading and Lagging Sectors
Health care shares rise by 0.5% on Friday.
In trading on Friday, information technology shares fall by 1.2%.
Top Headline
Colgate-Palmolive Company reported upbeat fourth-quarter financial results.
Colgate-Palmolive reported fourth-quarter FY23 sales growth of 7% year-on-year to $4.95 billion, beating the analyst consensus estimate of $4.89 billion. Base Business (non-GAAP) EPS of 87 cents beat the analyst consensus of 80 cents.
Equities Trading UP
AppFolio, Inc. shares rally 26%. Corbus Pharmaceuticals Holdings, Inc. surges 317%. eHealth, Inc. climbs 23%.
Equities Trading DOWN
Yoshitsu Co., Ltd shares plummet 61%. Nuvve Holding Corp. tumbles 29%. Processa Pharmaceuticals, Inc. falls 29%.
Commodities
In commodity news, oil climbs 0.5% to $77.71 while gold drops 0.1% to $2,017.20. Silver trades down 0.3% to $22.87, and copper falls 0.4% to $3.8525.
Euro zone
European shares are higher today. The eurozone’s STOXX 600 climbs 1.11%, London’s FTSE 100 rises 1.40%, Spain’s IBEX 35 Index rises 0.20%, the German DAX rises 0.32%, French CAC 40 climbs 2.28%, and Italy’s FTSE MIB Index rises 0.73%.
Bank lending to households in the Eurozone rises by 0.3% year-over-year to EUR 6.86 trillion in December. Spain’s unemployment rate falls to 11.76% in the fourth quarter from 11.84% in the prior quarter.
The consumer confidence indicator in France rises to 91 in January from 89 in the prior month, while the GfK Consumer Climate Indicator for Germany declines to -29.7 heading into February versus a revised reading of -25.4 in January.
Asia Pacific Markets
Asian markets close mostly lower on Friday, with Japan’s Nikkei 225 falling 1.34%, Hong Kong’s Hang Seng Index declining 1.60%, and China’s Shanghai Composite Index gaining 0.14%.
The index of leading economic indicators in Japan is revised lower to 107.6 in November versus the preliminary reading of 107.7, while the index of coincident economic indicators rises to 114.6 in November from a flash reading of 114.5.
Economics
The headline PCE annual inflation rate holds at 2.6% in December, matching both the previous and expected rate of 2.6%. On a monthly basis, the PCE price index rebounds with a 0.2% increase, recovering from a 0.1% decline in November and matching the predicted 0.2% rise.
U.S. personal spending rises by 0.7% from a month ago in December, while personal income rises by 0.3%.
U.S. pending home sales surge 8.3% month-over-month in December, beating market estimates of a 1.5% increase, and compared to a revised 0.3% decline in November.
The total number of active U.S. oil rigs climbs by 2 rigs this week, Baker Hughes Inc reported.
