Crude Oil Surges 3%; Delta Air Lines Posts Better-Than-Expected Earnings

U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite falling over 400 points on Friday.

The Dow traded down 1.19% to 42,129.32 while the NASDAQ dipped 1.16% to 19,252.53. The S&P 500 also fell, dropping, 1.10% to 5,853.26.

Check This Out: How To Earn $500 A Month From Synovus Financial Stock Ahead Of Q4 Earnings

Leading and Lagging Sectors

Energy shares rose by 0.6% on Friday.

In trading on Friday, information technology shares tumbled by 2.1%.

Top Headline

Delta Air Lines, Inc. DAL reported better-than-expected fourth-quarter results and issued 2025 guidance.

Delta reported fourth-quarter adj. operating revenue growth of 5.7% year-over-year to $14.437 billion. GAAP operating revenue was $15.56 billion (+9.4% YoY), beating the consensus of $14.212 billion.

Adjusted average fuel price was $2.34 per gallon, down from $3.00 from last year's quarter. Adjusted EPS was $1.85 (+44.5% YoY), beating the consensus of $1.76.

Equities Trading UP

Walgreens Boots Alliance, Inc. WBA shares shot up 28% to $11.82 after the company reported better-than-expected first-quarter financial results.
Shares of Vision Marine Technologies Inc VMARgot a boost, surging 53% to $2.33 as it regained compliance with Nasdaq's minimum stockholders' equity requirement, which it previously failed to meet. Vision Marine partnered with Calip Group to produce advanced cooling plates for electric boat batteries.
Savers Value Village, Inc. SVV shares were also up, gaining 12% to $10.50 after the company reported preliminary fourth quarter and full year net sales.

Equities Trading DOWN

IGM Biosciences Inc IGMS shares dropped 66% to $2.1250 after the company announced it is halting further development of Imvotamab and IGM-2644.
Shares of Maravai LifeSciences Holdings, Inc. MRVI were down 22% to $4.81 after announcing preliminary unaudited 2024 revenue.
Mercury General Corporation MCY was down, falling 21% to $48.05 after the company announced it anticipates wildfire losses in Southern California to surpass $150 million in reinsurance retention levels.

Commodities

In commodity news, oil traded up 3.1% to $76.21 while gold traded up 0.9% at $2,715.20.

Silver traded up 0.9% to $31.290 on Friday, while copper fell 0.2% to $4.3025.

Euro zone

European shares were lower today. The eurozone's STOXX 600 declined 0.84%, Germany's DAX 40 fell 0.50% and France's CAC 40 dipped 0.79%. Spain's IBEX 35 Index fell 1.5%, while London's FTSE 100 slipped 0.86%.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei 225 falling 1.05%, China's Shanghai Composite Index dipping 1.33%, Hong Kong's Hang Seng Index declining 0.92% and India's BSE Sensex falling 0.31%.

Economics

Nonfarm payrolls rose by 256,000 last month, up from the downwardly revised 212,000 in November and sharply surpassing economist expectations of 160,000 payrolls as tracked by TradingEconomics.
The unemployment rate fell from 4.2% to 4.1%, beating forecasts of an unchanged reading.
Average hourly earnings rose 0.3% month-over-month in December, matching expectations but slowing from November's 0.4%. On a year-over-year basis, wages increased 3.9%, slightly below of the 4% forecast.
The University of Michigan consumer sentiment declined to 73.2 in January versus 74 in the previous month.

Now Read This: