Market Falls Friday on Earnings | Live Stock
You will not get through the trading day without the news and animal spirits guiding the market. It is finally Friday, November 15th.
My name is Kevin Travers and the market is falling today- here is why.
$Alibaba (BABA.US)$ shares declined after a report from the firm Friday morning that it was facing a consumer demand slump, even though its AI cloud business grew 7% to $4.2B in its second fiscal quarter.
$Applied Materials (AMAT.US)$ fell 8% after reporting earnings Thursday night, saying they profited from increased demand for chips and electronics but reported a lower sales outlook for their coming fiscal first quarter. They expect about $7.15 billion, while analysts want $7.24 billion. It was the largest decliner on the S&P 500.
$Palantir (PLTR.US)$ Climbed 8%, the highest on the S&P 500, after news it would move its class A shares from the New York Stock Exchange to the Nasdaq.
Within industries tracked by moomoo, biotechnology firms fell 4% as a whole, led by a 4.8% drop in the moomoo lists' largest company by market cap, $Vertex Pharmaceuticals (VRTX.US)$.
$Bitcoin (BTC.CC)$ hovered at $88k, gold and silver climbed. $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ climbed and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ fell.
Overall, the market was lower on Friday.
Just past 11:07 am ET the $S&P 500 Index (.SPX.US)$ fell 1.20%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.67%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 1.94%.
In macro, core retail sales grew by 0.1% month over month, lower than estimated. Core retail sales measure the change in total value of sales at a regular consumer level.
Yesterday, users talked big game about the election and its impacts on the economy, though so far, President-Elect Donald Trump and the GOP have not taken their seats, they have won a majority in the House and the Senate of Congress.
Traders, what do you think? What you watching on the stock market today? What is the herd following? Let me know in the comments below!
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
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