share_log

Dow Dips Over 400 Points; Apple Posts Upbeat Earnings

Benzinga ·  Aug 2 21:52

U.S. stocks traded lower this morning, with the Dow Jones index dipping more than 400 points on Friday.

Following the market opening Friday, the Dow traded down 1.04% to 39,926.48 while the NASDAQ fell 2.29% to 16,801.13. The S&P 500 also fell, dropping, 1.52% to 5,363.64.

Leading and Lagging Sectors
Utilities shares gained by 1.7% on Friday.

In trading on Friday, consumer discretionary shares fell by 4.9%.

Top Headline
Apple, Inc. (NASDAQ:AAPL) reported better-than-expected earnings and sales results for its third quarter on Thursday.

Services revenue reached a new record but was a tad below the forecast.

Equities Trading UP

  • VSee Health, Inc. (NASDAQ:VSEE) shares shot up 114% to $5.24 after the company announced an agreement with Ava Robotics to develop telepresence solutions for the inpatient intensive care market.
  • Shares of Exicure, Inc. (NASDAQ:XCUR) got a boost, surging 46% to $0.7257 after the company announced it received a continued listing determination from the Nasdaq.
  • OS Therapies Incorporated (NASDAQ:OSTX) shares were also up, gaining 53% to $3.8458. OS Therapies reported the pricing of its IPO of 1.60 million shares at $4.00 per share, raising gross proceeds of $6.4 million.

Equities Trading DOWN

  • bioAffinity Technologies, Inc. (NASDAQ:BIAF) shares dropped 47% to $1.26 after the company announced pricing of registered direct offering and concurrent private placement and warrant inducement for aggregate gross proceeds of $1.75 million.
  • Shares of Gamer Pakistan Inc. (NASDAQ:GPAK) were down 36% to $0.1070 after the company announced it received a delisting notice from the Nasdaq.
  • Fresh Vine Wine, Inc. (NASDAQ:VINE) was down, falling 35% to $0.2848 after the company announced that it terminated the merger agreement with Notes Live.

Commodities
In commodity news, oil traded down 2.8% to $74.09 while gold traded up 1.3% at $2,513.90.

Silver traded up 2.1% to $29.085 on Friday, while copper rose 0.7% to $4.11.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 2.2%, Germany's DAX fell 2% and France's CAC 40 fell 1.2%. Spain's IBEX 35 Index fell 1%, while London's FTSE 100 fell 1%.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei 225 dipping 5.81%, Hong Kong's Hang Seng Index falling 2.08%, China's Shanghai Composite Index falling 0.92% and S&P BSE Sensex declining 1.08%.

Economics

  • Nonfarm payrolls came in at 114,000 last month, a slowdown of 65,000 from June, and well below the economist consensus estimate of 175,000 according to TradingEconomics.
  • The unemployment rate rose from 4.1% to 4.3%, contrary to expectations of it remaining unchanged.
  • Wage growth showed further signs of cooling, with average hourly earnings rising by 0.2% month-over-month, down from 0.3% in June and slightly below expectations.

Now Read This: Amazon, Apple And 3 Stocks To Watch Heading Into Friday

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment