Nasdaq Gains Over 50 Points; Amazon Issues Weak Outlook

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining around 50 points on Friday.

Following the market opening Friday, the Dow traded up 0.09% to 44,786.91 while the NASDAQ rose 0.29% to 19,849.94. The S&P 500 also rose, gaining, 0.16% to 6,093.21.

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Leading and Lagging Sectors

Information technology shares surged by 0.6% on Friday.

In trading on Friday, consumer discretionary shares fell by 0.7%.

Top Headline

Amazon.com Inc. AMZN reported better-than-expected earnings and sales results for its fourth quarter after the market close Thursday.

However, the company said it sees first-quarter net sales to come in a range of $151 billion to $155.5 billion, up 5% to 9% year-over-year, down from market estimates of $158.5 billion.

Equities Trading UP
                       

• MGO Global, Inc. MGOL shares shot up 116% to $0.3988.
• Shares of Conduit Pharmaceuticals Inc. CDTgot a boost, surging 92% to $2.97 after the company announced it completed all milestones in Phase I of its strategic collaboration with Sarborg Limited.
• Farmer Bros. Co. FARM shares were also up, gaining 39% to $2.51 after the company reported better-than-expected second-quarter EPS results.

Equities Trading DOWN

• Nikola Corporation NKLA shares dropped 33% to $0.5052 following a report suggesting that the company is exploring bankruptcy filing.
• Shares of BILL Holdings, Inc. BILL were down 35% to $63.10. The company issued third-quarter total revenue guidance below estimates.
• Newell Brands Inc NWL was down, falling 29% to $6.89 after the company issued first-quarter adjusted EPS guidance below estimates

Commodities

In commodity news, oil traded up 0.7% to $71.13 while gold traded up 0.3% at $2,885.70.

Silver traded up 0.2% to $32.675 on Friday, while copper rose 1.7% to $4.5390.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 slipped 0.1%, Germany's DAX 40 fell 0.1% and France's CAC 40 fell 0.2%. Spain's IBEX 35 Index rose 0.1%, while London's FTSE 100 fell 0.2%.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 falling 0.72%, China's Shanghai Composite Index climbing 1.01%, Hong Kong's Hang Seng Index gaining 1.16% and India's BSE Sensex falling 0.25%.

Economics

• Nonfarm payrolls rose by 143,000 in January 2025, marking a sharp slowdown from the upwardly revised 307,000 in December and missing economist expectations of 170,000, as tracked by TradingEconomics.
• The unemployment rate inched down from 4.1% to 4% in January, beating expectations of a stable reading.
• Average hourly earnings, a key measure of wage inflation, spiked 0.5% month-over-month, topping expectations of 0.3% and marking the highest increase since January 2024.

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