U.S. stock performance showed a mixed trend midway through trading on Friday. The Dow Jones index experienced a decline of more than 100 points, trading down 0.30% at 47,379.27. Meanwhile, the NASDAQ saw a slight increase of 0.27%, reaching 23,644.68, while the S&P 500 fell marginally, down 0.07% to 6,817.76.
Consumer discretionary stocks experienced a significant bounce, rising by 3.8% on the day. In contrast, the utilities sector trended downward, with stocks dropping by 1.2%.
In major news, Amazon.com Inc. (NASDAQ:AMZN) released promising third-quarter financial results after the market closed on Thursday. The online retail giant reported net sales of $180.2 billion for the quarter, representing a year-over-year increase of 13%. This figure surpassed Wall Street’s consensus estimate of $177.8 billion. Amazon’s outlook for the fourth quarter also appeared positive, with expected net sales ranging between $206.0 billion and $213.0 billion, which translate to a growth of 10% to 13% year-over-year.
Several companies experienced noteworthy stock movements. AMTD Digital Inc. (NYSE:HKD) saw shares leap by 99% to $3.36 after announcing a remarkable 1,085.9% year-over-year increase in revenue. Butterfly Network, Inc. (NYSE:BFLY) rose 27% to $2.59 following better-than-expected quarterly results, and Illumina, Inc. (NASDAQ:ILMN) increased by 23% to $121.41 after reporting strong third-quarter results and elevating its full-year guidance.
On the downside, Luminar Technologies, Inc. (NASDAQ:LAZR) faced a sharp 49% drop to $1.08 due to a subpoena from the SEC and suspension of its FY25 guidance. Intensity Therapeutics, Inc. (NASDAQ:INTS) fell 42% to $0.76 after announcing the pricing of a $4 million registered direct offering of common stock. OneSpan Inc. (NASDAQ:OSPN) declined 27% to $11.32 as it reported lower-than-expected third-quarter sales results and reduced its FY25 sales guidance, prompting a price target cut from Rosenblatt.
In commodities, oil prices ticked up 0.5% to $60.87, while gold fell by 0.5% to $3,995.20. Silver and copper also experienced declines, trading down 0.9% to $48.19 and 0.4% to $5.08, respectively.
European markets reflected a negative sentiment, with the eurozone’s STOXX 600 slipping 0.51%. Other major European indices such as Spain’s IBEX 35, London’s FTSE 100, Germany’s DAX 40, and France’s CAC 40 also reported losses.
Asian markets showed a mixed outcome, with Japan’s Nikkei 225 gaining 2.12%, while other indices like Hong Kong’s Hang Seng and China’s Shanghai Composite registered declines.
As we move forward, the economic data from sectors thriving amidst pressures, like Amazon, offers a hopeful outlook amidst a volatile trading environment on Wall Street. The resilience of certain sectors can serve as a beacon for investors looking for stability in uncertain times.