After the market opened on Friday, the Dow Jones traded 0.02% to 35,723.13 while the NASDAQ fell 0.38% to 15,387.12. The S&P also fell, falling 0.26% to 4,584.65.
The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 46,685,140 cases with an estimated 763,780 deaths. India has confirmed a total of at least 34,246,150 cases and 457,220 deaths, while Brazil has reported more than 21,781,430 COVID-19 cases with 607,120 deaths. In total, there have been at least 246,409,210 cases of COVID-19 worldwide with more than 4,998,850 deaths, according to data compiled by Johns Hopkins University.
Sectors ahead and behind
Communication services shares gained 0.3% on Friday. Meanwhile, the top winners of the sector included Lucide Group, Inc. (NASDAQ: LCID), up 32% and Overstock.com, Inc. (NASDAQ: OSTK) up 24%.
In Friday trading, consumer discretionary stocks fell 1%.
Superior title
Amazon.com, Inc. (NASDAQ: AMZN) reported weaker-than-expected results for its third quarter and released negative sales guidance for the fourth quarter on Thursday.
Amazon reported third-quarter revenue of $ 110.8 billion, up 15% year-on-year. The revenue missed analysts’ estimates of $ 111.6 billion. Amazon reported earnings per share of $ 6.12, lower than the consensus estimate of $ 8.92.
Amazon predicts fourth-quarter revenue to be between $ 130 billion and $ 140 billion, which would represent a year-over-year increase of 4% and 12%, respectively. This is lower than Street’s consensus estimate of $ 142.1 billion.
Bullish stock trading
Guardforce AI Co., Limited (NASDAQ: GFAI) Shares jumped 65% to $ 4.01 after the company said it hired Int’l. Investor Relations Co., MZ Group, to lead the strategic investor relations and financial communications program.
Actions of A10 Networks, Inc. (NYSE: ATEN) got a boost, jumping 25% to $ 17.32 after the company reported better-than-expected third-quarter results.
Retail Value Inc. Shares (NYSE: RVI) were also higher, gaining 26% to $ 6.45. Retail Value is expected to release its third quarter results on Wednesday, November 3, 2021.
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Downward trading of stocks
Huadi International Group Co., Ltd. (NASDAQ: HUDI) Shares fell 32% to $ 19.35 after gaining 18% on Thursday.
Actions of Onion Global Limited (NYSE: OG) was down 29% to $ 6.39 after the company announced a $ 25 million private placement.
The Insight Group, Inc. (NASDAQ: VRAR) was down, falling 24% to $ 11.12 after the company announced a $ 15 million private placement.
Merchandise
In the commodities news, oil traded up 0.4% to $ 83.14, while gold traded 0.3% to $ 1,796.80.
Silver traded 0.2% on Friday at $ 24.08 while copper rose 0.1% to $ 4.4440.
Eurozone
European stocks were weaker today. The Eurozone STOXX 600 fell 0.7%, the Spanish Ibex index fell 0.7% and the German DAX 30 fell 1.1%. Meanwhile, London’s FTSE 100 fell 0.4%, the French CAC 40 fell 0.6% and the Italian FTSE MIB fell 0.8%.
The annual inflation rate in the euro area rose to 4.1% in October from 3.4% in September. UK consumer credit increased by £ 0.2bn in September, while mortgage borrowing reached £ 9.5 billion in September.
Italy’s gross domestic product grew 2.6% quarter on quarter in the three months ending September, while the German economy grew 1.8% quarterly. Spain’s retail sales fell 0.1% from a year ago in September, while the country’s economy grew 2.0% quarter on quarter in the three months to September . The annual inflation rate in France rose to 2.6% in October from 2.2% in September, while the economy grew by 3% quarter on quarter in the third quarter.
Economy
Compensation costs for civilian workers in the United States rose 1.3% quarter-on-quarter in the three months ending September.
Personal spending in the United States rose 0.6% in September, while personal income declined 1.0%.
Chicago’s PMI index climbed to 68.4 in October from 64.7 the month before.
The University of Michigan consumer confidence index hit 71.7 in October, after a preliminary reading of 71.4.
Baker Hughes’ North American rig count report for the past week is expected to be released at 1:00 p.m. ET.
September farm price data will be released at 3 p.m. ET.
Check out the full economic calendar here
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