U.S. stocks traded mostly higher midway through trading, with the Nasdaq adding 1% on Friday.
The Dow traded down 0.17% to 34,420.54 while the NASDAQ rose 1.07% to 13,761.01. The S&P also rose, gainng, 0.29% to 4,424.35. Also check this: ExInsiders Buy Over $7M Of 3 Penny Stocks
Leading and Lagging Sectors
Information technology shares climbed by 1% on Friday. Meanwhile, top gainers in the sector included StoneCo Ltd. (NASDAQ:STNE), up 41% and Tuya Inc. (NYSE:TUYA) up 37%.
In trading on Friday, utilities shares fell by 0.9%.
Top Headline
U.S. existing home sales dropped by 7.2% to an annualized rate of 6.02 million in February. It is the lowest reading in six months.
Equities Trading UP
Kidpik Corp. (NASDAQ:PIK) shares shot up 42% to $6.73 on continued momentum following the company's recently-announced partnership with The Walt Disney Co.
Shares of StoneCo Ltd. (NASDAQ:STNE) got a boost, shooting 41% to $13.53 after the company reported Q4 earnings results.
UP Fintech Holding Limited (NASDAQ:TIGR) shares were also up, gaining 33% to $5.46. UP Fintech Holding reported fourth-quarter FY21 revenue growth of 31.7% year-on-year to $62.2 million, beating the consensus of $52.8 million.
Equities Trading DOWN
Ambac Financial Group, Inc. (NYSE:AMBC) shares tumbled 23% to $9.14 after its subsidiary Ambac Assurance issued a statement on residential mortgage-backed securities litigation.
Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) were down 22% to $6.48 after the company reported Q4 earnings results and issued FY22 sales guidance below estimates.
HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) was down, falling 17% to $1.75. HTG Molecular Diagnostics reported a $7.5 million private placement.
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Commodities
In commodity news, oil traded up 1.1% to $104.08, while gold traded down 0.6% to $1,932.40.
Silver traded down 1.7% Friday to $25.17 while copper rose 0.8% to $4.7395.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 gained 0.7%, London’s FTSE 100 gained 0.11%, while Spain’s IBEX 35 Index fell 0.24%. The German DAX declined 0.19%, French CAC 40 slipped 0.07% and Italy’s FTSE MIB Index fell 0.13%.
The trade balance in the Eurozone swung to a deficit of €27.2 billion in January versus a €10.7 billion surplus in the year-ago period. Hourly labor costs in the Eurozone rose 1.9% year-over-year during the fourth quarter.
Italy recorded a trade deficit of EUR 5.052 billion in January versus a year-ago surplus of EUR 1.584 billion, while construction output surged 13.2% year-over-year in January.
Economics
U.S. existing home sales dropped by 7.2% to an annualized rate of 6.02 million in February. It is the lowest reading in six months.
The index of leading economic indicators rose 0.3% for February.
The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
Chicago Fed President Charles Evans will speak at 2:00 p.m. ET.
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Check out the full economic calendar here
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 81,350,880 cases with around 996,070 deaths. India confirmed a total of at least 43,004,000 cases and 516,310 deaths, while Brazil reported over 29,527,640 COVID-19 cases with 656,480 deaths. In total, there were at least 466,663,320 cases of COVID-19 worldwide with more than 6,088,980 deaths.
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