Dow Dips Over 500 Points; US Goods Trade Deficit Widens In November

U.S. stocks traded lower midway through trading, with the Dow Jones dipping over 500 points on Friday.

The Dow traded down 1.18% to 42,814.39 while the NASDAQ fell 2.18% to 19,583.95. The S&P 500 also fell, dropping, 1.61% to 5,940.27.

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Leading and Lagging Sectors

Energy shares rose by 0.4% on Friday.

In trading on Friday, consumer discretionary shares dipped by 2.2%.

Top Headline

The U.S. trade deficit in goods increased to $102.86 billion in November, from a revised gap of $98.3 billion in the previous month and versus market estimates of a $100.7 billion deficit.

Equities Trading UP
                       

• iLearningEngines, Inc. (AILE) shares shot up 382% to $0.7800. iLearningEngines recently announced it voluntarily filed for Chapter 11 Bankruptcy.
• Shares of SES AI Corporation (SES) got a boost, surging 43% to $2.0305.
• Quantum-Si incorporated (QSI) shares were also up, gaining 36% to $2.9299.

Equities Trading DOWN

• Exodus Movement, Inc. (EXOD) shares dropped 15% to $40.02.
• Shares of zSpace, Inc. (ZSPC) were down 12% to $12.20.
• Gaxos.ai Inc. (GXAI) was down, falling 21% to $2.8200. Gaxos.ai (GXAI) announced $4 million registered direct offering priced at-the-market under Nasdaq rules.

Commodities

In commodity news, oil traded up 0.7% to $70.12 while gold traded down 1% at $2,628.50.

Silver traded down 1.6% to $29.910 on Friday, while copper fell 0.3% to $4.1165.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.39%, Germany's DAX gained 0.42% and France's CAC 40 rose 0.69%. Spain's IBEX 35 Index rose 0.16%, while London's FTSE 100 slipped 0.02%.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 1.80%, China's Shanghai Composite Index gaining 0.06%, Hong Kong's Hang Seng Index falling 0.04% and India's BSE Sensex gaining 0.29%.

Economics

• U.S. wholesale inventories declined by 0.2% month-over-month to $902 billion in November compared to a revised 0.1% gain in the previous month and versus market estimates of a 0.2% increase.
• The U.S. trade deficit in goods increased to $102.86 billion in November, from a revised gap of $98.3 billion in the previous month and versus market estimates of a $100.7 billion deficit.

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