U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling by more than 300 points on Friday.

The Dow traded down 0.78% to 43,410.32 while the NASDAQ fell 2.50% to 18,630.37. The S&P 500 also fell, dropping, 1.51% to 5,859.61.

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Leading and Lagging Sectors

Utilities shares rose by 1% on Friday.

In trading on Friday, information technology shares fell by 2.7%.

Top Headline

The total number of active U.S. oil rigs fell by one to 478 rigs this week, Baker Hughes Inc reported.

Equities Trading UP
                       

• The Arena Group Holdings, Inc. AREN shares shot up 181% to $1.63 after it announced its first ever profitable quarter.
• Shares of Bloom Energy Corporation BE got a boost, surging 55% to $20.59 after the energy company became the latest to announce a major deal to power AI data centers. Bloom Energy announced Thursday evening that it has signed a supply agreement with American Electric Power Company, Inc. AEP for up to 1 gigawatt (GW) of its products, the largest commercial procurement of fuel cells in the world to date. 
• Simpple Ltd. SPPL shares were also up, gaining 46% to $1.29 after the company announced a $400,000 contract to supply autonomous cleaning robots at Singapore’s International Airport Terminal.

Equities Trading DOWN

• TFF Pharmaceuticals, Inc. TFFP shares dropped 77% to $0.37 after the company announced it will wind down its operations.
• Shares of Eyenovia, Inc. EYEN were down 70% to $0.10 after the company announced that its CHAPERONE trial is not meeting its primary endpoint, prompting the discontinuation of the study and a review of the full data set to evaluate next steps for the program.
• Ryvyl Inc. RVYL was down, falling 26% to $1.26 after the company reported worse-than-expected third-quarter financial results and cut its FY24 sales guidance.

Commodities

In commodity news, oil traded down 2.2% to $67.20 while gold traded down 0.1% at $2,572.20.

Silver traded down 0.5% to $30.425 on Friday, while copper fell 0.5% to $4.0690.

Euro zone

European shares closed mostly lower today. The eurozone’s STOXX 600 fell 0.77%, Germany’s DAX fell 0.27% and France’s CAC 40 fell 0.58%. Spain’s IBEX 35 Index gained 0.97%, while London’s FTSE 100 fell 0.09%.

The annual inflation rate in Italy increased to 0.9% in October versus 0.7% in the prior month, while France’s annual inflation rate rose to 1.2% in October. The GDP in the UK grew by 1% year-over-year during the third quarter.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan’s Nikkei 225 gaining 0.28%, Hong Kong’s Hang Seng Index falling 0.05% and China’s Shanghai Composite Index dipping 1.45%.

Hong Kong’s economy expanded by 1.8% year-over-year in the third quarter compared to a 3.2% increase in the previous period. China’s retail sales rose by 4.8% year-over-year in October, while industrial production rose by 5.3% year-over-year in October.

Economics

• The NY Empire State Manufacturing Index surged to 31.2 in November versus -11.9 in the previous month and topping market estimates of -0.7.
• U.S. export prices increased by 0.8% in October, while import prices rose by 0.3% month-over-month in October.
• U.S. retail sales rose 0.4% month-over-month in October compared to a revised 0.8% increase in September, and toping market estimates of 0.3%.
• U.S. industrial production declined by 0.3% in October compared to a revised 0.5% declined in September.
• The total number of active U.S. oil rigs fell by one to 478 rigs this week, Baker Hughes Inc reported.
• U.S. business inventories rose 0.1% month-over-month in September compared to a 0.3% gain in August and versus market estimates of 0.2%.

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