Dow Tumbles 400 Points; Carnival Shares Fall After Q1 Earnings

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

Following the market opening Friday, the Dow traded down 0.89% to 45,551.20 while the NASDAQ fell 1.27% to 21,136.11. The S&P 500 also fell, dropping, 0.91% to 6,418.40.

Leading and Lagging Sectors

Energy shares climbed by 1.2% on Friday.

In trading on Friday, consumer discretionary stocks fell by 2%.

Top Headline

Shares of Carnival Corporation (NYSE:CCL) fell around 3% on Friday after the company reported upbeat earnings for the first quarter, but lowered its earnings guidance.

The company posted quarterly earnings of 20 cents per share which beat the analyst consensus estimate of 18 cents per share. The company reported quarterly sales of $6.165 billion which beat the analyst consensus estimate of $6.134 billion.

Equities Trading UP
           

• Artelo Biosciences Inc (NASDAQ:ARTL) shares shot up 239% to $10.80 after the company announced the withdrawal of its SEC Registration Statement as it doesn’t intend to sell securities at this time.
• Shares of Hitek Global Inc (NASDAQ:HKIT) got a boost, surging 108% to $0.12. HiTek Global’s sales agreement with Maxim Group has been terminated by Maxim.
• VisionSys AI Inc (NASDAQ:VSA) shares were also up, gaining 91% to $2.61.

Equities Trading DOWN

• MKDWELL Tech Inc (NASDAQ:MKDW) shares dropped 42% to $4.49.
• Shares of Datacentrex, Inc. (NASDAQ:DTCX) were down 34% to $2.03 after the company announced pricing of its public offering at $2.00 per share.
• Megan Holdings Limited (NASDAQ:MGN) was down, falling 29% to $0.1989.

Commodities

In commodity news, oil traded up 3.4% to $97.71 while gold traded up 1.2% at $4,429.00.

Silver traded up 0.4% to $68.185 on Friday, while copper rose 0.1% to $5.4780.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 1.2%, while Spain's IBEX 35 Index fell 1.3%. London's FTSE 100 declined 0.4%, Germany's DAX dipped 1.6% and France's CAC 40 fell 0.9% during the session.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 falling 0.43%, Hong Kong's Hang Seng index gaining 0.38%, China's Shanghai Composite gaining 0.63% and India's BSE Sensex dipping 2.25%.

Economics

The University of Michigan's Consumer Sentiment Index dipped to 53.3 in March from the preliminary reading of 55.5 and down from February's reading of 56.6.

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