Dow Falls Over 100 Points; Amazon Posts Upbeat Q3 Results

U.S. stocks traded mixed midway through trading, with the Dow Jones index falling more than 100 points on Friday.

The Dow traded down 0.30% to 47,379.27 while the NASDAQ rose 0.27% to 23,644.68. The S&P 500 also fell, dropping, 0.07% to 6,817.76.

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Leading and Lagging Sectors

Consumer discretionary shares jumped by 3.8% on Friday.

In trading on Friday, utilities stocks fell by 1.2%.

Top Headline

Amazon.com Inc. (NASDAQ:AMZN) reported upbeat third-quarter financial results Thursday after market close.

Amazon reported third-quarter net sales of $180.2 billion, up 13% year-over-year. The sales total beat the Street consensus estimate of $177.8 billion, according to Benzinga Pro. Amazon said it sees fourth-quarter net sales in a range of $206.0 billion to $213.0 billion, up 10% to 13% year-over-year, respectively.

Equities Trading UP
           

• AMTD Digital Inc. (NYSE:HKD) shares shot up 99% to $3.3600 after the company reported a 1,085.9% year-over-year increase in revenue to $73.2 million for the six months ended April 30.
• Shares of Butterfly Network, Inc. (NYSE:BFLY) got a boost, surging 27% to $2.59 after the company reported better-than-expected quarterly financial results.
• Illumina, Inc. (NASDAQ:ILMN) shares were also up, gaining 23% to $121.41 after the company reported third-quarter results above estimates and raised its full-year guidance.

Equities Trading DOWN

• Luminar Technologies, Inc. (NASDAQ:LAZR) shares dropped 49% to $1.0801 after the company announced it received a subpoena form the SEC. Also, the company announced it is suspending its FY25 guidance.
• Shares of Intensity Therapeutics, Inc. (NASDAQ:INTS) were down 42% to $0.7612 after the company reported pricing of $4 million registered direct offering of common stock.
• OneSpan Inc. (NASDAQ:OSPN) was down, falling 27% to $11.32 after the company reported worse-than-expected third-quarter sales results and cut its FY25 sales guidance below estimates. Also, Rosenblatt cut its price target from $17 to $15 on the stock.

Commodities

In commodity news, oil traded up 0.5% to $60.87 while gold traded down 0.5% at $3,995.20.

Silver traded down 0.9% to $48.190 on Friday, while copper fell 0.4% to $5.0820.

Euro zone

European shares were lower today. The eurozone's STOXX 600 slipped 0.51%, while Spain's IBEX 35 Index fell 0.05%. London's FTSE 100 fell 0.44%, Germany's DAX 40 fell 0.67% and France's CAC 40 fell 0.44% during the session.

Asia Pacific Markets

Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 gaining 2.12%, Hong Kong's Hang Seng falling 1.43%, China's Shanghai Composite dipping 0.81% and India's BSE Sensex declining 0.55%.

Economics

Baker Hughes said oil rigs fell by six to 414 this week.

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