U.S. stocks displayed a mixed performance as the Nasdaq Composite dipped over 50 points on Friday.
The Dow traded up 0.05% to 38,069.66, while the NASDAQ fell 0.4% to 15,447.78. The S&P 500 also fell, dropping 0.15% to 4,886.79.
Market Sector Movement
Health care shares saw a 0.5% rise on Friday.
In contrast, information technology shares slumped by 1.2%.
Colgate-Palmolive’s Financial Triumph
Colgate-Palmolive Company CL reported optimistic fourth-quarter financial results.
Colgate-Palmolive announced fourth-quarter FY23 sales growth of 7% year-on-year to $4.95 billion, surpassing the analyst consensus estimate of $4.89 billion. Base Business (non-GAAP) EPS of 87 cents exceeded the analyst consensus of 80 cents.
Winners and Losers in Equities Trading
AppFolio, Inc. APPF shares surged 26% to $219.29 after the company posted better-than-expected fourth-quarter financial results and issued guidance.
Shares of Corbus Pharmaceuticals Holdings, Inc. CRBP skyrocketed 317% to $35.27 after the company announced data from the first-in-human clinical study of CRB-701.
eHealth, Inc. EHTH shares also rose, gaining 23% to $6.89 after the company announced preliminary results for the fourth quarter.
The decliners included Yoshitsu Co., Ltd TKLF, Nuvve Holding Corp. NVVE, and Processa Pharmaceuticals, Inc. PCSA.
Commodity Standing
In commodity news, oil traded up 0.5% to $77.71, while gold traded down 0.1% at $2,017.20. Silver traded down 0.3% to $22.87 on Friday, and copper fell 0.4% to $3.8525.
Economic Snapshot
The headline PCE annual inflation rate held at 2.6% in December, matching both the previous and expected rate of 2.6%. U.S. personal spending rose by 0.7% from a month ago in December, while personal income rose by 0.3%. U.S. pending home sales surged 8.3% month-over-month in December.
The total number of active U.S. oil rigs climbed by 2 rigs this week, Baker Hughes Inc reported.
Global Market Performance
European shares were higher, and Asian markets closed either lower or mostly lower on Friday.
Reflect on these intriguing financial shifts and prepare your market strategy for the upcoming trading week.
