US stocks opened lower on the last trading day of the week despite stronger-than-expected earnings results from Apple Inc. (NASDAQ:AAPL).
Following the market opening Friday, the Dow traded down 0.79% to 33,890.60 while the NASDAQ fell 0.60% to 13,272.33. The S&P also fell, dropping, 0.58% to 4,301.58.
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Leading and Lagging Sectors
Information technology shares slipped by just 0.1% on Friday. Meanwhile, top gainers in the sector included Clearfield, Inc. (NASDAQ:CLFD), up 14% and Park City Group, Inc. (NASDAQ:PCYG) up 15%.
In trading on Friday, industrials shares dipped 1.5%.
Top Headline
Personal income in the US increased 0.3% from a month ago in December, while personal spending dropped 0.6% in December. The personal consumption expenditure price index, meanwhile, surged 5.8 percent year-over-year in December.
Equities Trading UP
Indonesia Energy Corporation Limited (NYSE:INDO) shares shot up 21% to $7.12 after jumping 110% on Thursday.
Shares of Knightscope, Inc. (NASDAQ:KSCP) got a boost, shooting 17% to $6.91. The company, on Thursday, priced its IPO at $10 per share.
Yoshitsu Co., Ltd (NASDAQ:TKLF) shares were also up, gaining 23% to $3.13 after dropping 22% on Thursday.
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Equities Trading DOWN
Williams Industrial Services Group Inc. (NYSE:WLMS) shares tumbled 29% to $2.1688 after the company issued weak sales forecast for FY22.
Shares of Volcon, Inc. (NASDAQ:VLCN) were down 23% to $2.92. Volcon priced its underwritten public offering of 6.67 million shares of common stock at $3 per share.
Qurate Retail, Inc. (NASDAQ:QRTEA) was down, falling 22% to $6.03. Qurate Retail said it sees preliminary Q4 retail revenue down 8% to 9%.
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Commodities
In commodity news, oil traded up 0.8% to $87.27, while gold traded down 0.7% to $1,781.50.
Silver traded down 1.1% Friday to $22.435 while copper fell 1.8% to $4.3435.
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Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 1.6%, London’s FTSE 100 dropped 1.4%, while Spain’s IBEX 35 Index fell 1.7%. The German DAX dipped 2.1%, French CAC 40 declined 1.8% and Italy’s FTSE MIB Index declined 1.8%.
Manufacturing confidence in Italy declined to 113.9 in January from a revised 115 in the previous month, while consumer confidence fell to 114.2 from 117.7. The Germany’s economy shrank 0.7% on quarter during the final three months of 2021, versus market expectations for a 0.3% fall. Import prices in Germany surged 24% year-over-year in December.
Producer prices in France rose 1% from a month ago in December, while the country’s economy expanded 0.7% quarter-over-quarter in the fourth quarter. Spanish economy grew 2.0 percent on quarter in the final three months of 2021.
Economics
Personal income in the US increased 0.3% from a month ago in December, while personal spending dropped 0.6% in December. The personal consumption expenditure price index, meanwhile, surged 5.8 percent year-over-year in December.
The employment cost index rose 1.0% quarter-over-quarter during the last three months of 2021.
The University of Michigan consumer sentiment was revised lower to 67.2 in January versus a preliminary reading of 68.8.
The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 74,695,330 cases with around 902,140 deaths. India confirmed a total of at least 40,622,700 cases and 492,350 deaths, while Brazil reported over 24,782,920 COVID-19 cases with 625,160 deaths. In total, there were at least 367,331,100 cases of COVID-19 worldwide with more than 5,658,530 deaths.
