U.S. stocks traded lower midway through trading, with the Dow Jones dipping around 1.5% on Friday.
The Dow traded down 1.46% to 43,488.38 while the NASDAQ dipped 2.38% to 20,620.55. The S&P 500 also fell, dropping, 1.76% to 6,227.60.
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Leading and Lagging Sectors
Consumer staples shares jumped by 0.9% on Friday.
In trading on Friday, consumer discretionary stocks dipped by 3.4%.
Top Headline
Shares of Amazon.com Inc. (NASDAQ:AMZN) fell around 8% on Friday after the company reported second-quarter financial results.
Amazon reported second-quarter net sales of $167.7 billion, up 13% year-over-year. The net sales total beat a Street consensus estimate of $161.9 billion according to data from Benzinga Pro.
Equities Trading UP
- Tenon Medical, Inc. (NASDAQ:TNON) shares shot up 75% to $1.7500 after the company announced the acquisition of sacroiliac joint‑specific assets from SiVantage.
- Shares of Performant Healthcare, Inc. (NASDAQ:PHLT) got a boost, surging 114% to $7.59 after Machinify agreed to acquire the company for $670 million.
- Alphatec Holdings, Inc. (NASDAQ:ATEC) shares were also up, gaining 26% to $13.36 after the company raised its FY 2025 sales guidance above estimates.
Equities Trading DOWN
- Fluor Corporation (NYSE:FLR) shares dropped 31% to $39.35 after the company reported second-quarter results below estimates and lowered its FY25 adjusted EPS guidance.
- Shares of Silexion Therapeutics Corp (NASDAQ:SLXN) were down 35% to $9.75 after the company announced exercise of warrants for $1.8 million gross proceeds.
- Insperity, Inc. (NYSE:NSP) was down, falling 23% to $45.98 after the company reported worse-than-expected quarterly financial results and issued weak guidance.
Commodities
In commodity news, oil traded down 2% to $67.86 while gold traded up 1.4% at $3,396.30.
Silver traded up 0.6% to $36.945 on Friday, while copper rose 1% to $4.3995.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 1.79%, while Spain's IBEX 35 Index dipped 1.83%. London's FTSE 100 fell 0.80%, Germany's DAX 40 declined 2.36% and France's CAC 40 fell 2.73% during the session.
Asia Pacific Markets
Asian markets closed lower on Friday, with Japan's Nikkei 225 falling 0.66%, Hong Kong's Hang Seng falling 1.07%, China's Shanghai Composite dipping 0.37% and India's BSE Sensex falling 0.72%.
Economics
- U.S. construction spending declined by 0.4% from the previous month to an annualized rate of $2.136 trillion in June.
- The ISM manufacturing PMI declined to 48 in July compared to 49 in June, missing market estimates of 49.5.
- The University of Michigan's consumer sentiment index slipped to 61.7 in July compared to the preliminary reading of 61.8.
- The S&P Global manufacturing PMI was revised higher to 49.8 in July versus a preliminary reading of 49.5.
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