Dow Tumbles Over 400 Points; Nike Shares Dip After Q3 Results

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 1.05% to 41,513.90 while the NASDAQ dipped 0.78% to 17,554.07. The S&P 500 also fell, dropping, 0.86% to 5,613.96.

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Leading and Lagging Sectors

Communication services shares fell by just 0.1% on Friday.

In trading on Friday, materials shares dipped by 1.8%.

Top Headline

Shares of Nike Inc NKE fell around 8% on Friday after the company reported third-quarter financial results.

The athletic footwear and apparel company reported third-quarter revenue of $11.27 billion, beating analyst estimates of $11.01 billion.

Equities Trading UP
                       

• Impact BioMedical Inc. IBO shares shot up 67% to $3.4691 after jumping 292% on Thursday.
• Shares of VivoPower International PLC VVPRgot a boost, surging 38% to $1.1706. Tembo E-LV B.V., a subsidiary of VivoPower International, announced that it is working closely with CCTS to progress towards a closing of the Business Combination by Q2, calendar 2025.
• Allurion Technologies Inc. ALUR shares were also up, gaining 49% to $3.3899 after the company announced results from its allurion program and low-dose GLP-1 therapy combination.

Equities Trading DOWN

• Damon Inc. DMN shares dropped 70% to $0.0378 after the company announced a $16.5 million public offering.
• Shares of LQR House Inc. YHC were down 46% to $1.23. LQR House announced a new purchase order for 168 cases of SWOL Tequila from Of The Earth Distribution Corp. following successful LCBO launch and strong demand in Ontario.
• TELA Bio, Inc. TELA was down, falling 37% to $1.48 after the company reported worse-than-expected Q4 financial results. Additionally, Piper Sandler downgraded the stock from Overweight to Neutral and cut its price target from $5 to $2.

Commodities

In commodity news, oil traded down 0.3% to $67.87 while gold traded down 1.1% at $3,010.40.

Silver traded down 1.9% to $33.350 on Friday, while copper fell 1.5% to $5.0355.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.82%, Germany’s DAX 40 fell 1.04% and France’s CAC 40 fell 0.86%. Spain’s IBEX 35 Index rose 0.01%, while London’s FTSE 100 slipped 0.72%.

Asia Pacific Markets

Asian markets closed mostly lower on Friday, with Japan’s Nikkei 225 falling 0.20%, China’s Shanghai Composite Index falling 1.29%, Hong Kong’s Hang Seng Index dipped 2.19% and India’s BSE Sensex gaining 0.73%.

Economics

The Baker Hughes oil rig count will be released today.

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