Mid-Afternoon Market Update: Gold Down 1%; A10 Networks Shares Gain Following Q3 Results

Toward the end of trading Friday, the Dow traded down 0.03% to 35,721.05 while the NASDAQ fell 0.07% to 15,437.03. The S&P also fell, dropping 0.08% to 4,592.96.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 46,685,140 cases with around 763,780 deaths. India confirmed a total of at least 34,246,150 cases and 457,220 deaths, while Brazil reported over 21,781,430 COVID-19 cases with 607,120 deaths. In total, there were at least 246,409,210 cases of COVID-19 worldwide with more than 4,998,850 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Health care shares gained by 0.6% on Friday. Meanwhile, top gainers in the sector included MiNK Therapeutics, Inc. INKT, up 21% and GH Research PLC GHRS up 16%.

In trading on Friday, real estate shares fell 1.1%.

Top Headline

Amazon.com, Inc. AMZN reported weaker-than-expected results for its third quarter and issued downbeat sales guidance for the fourth quarter on Thursday.

Amazon reported revenue of $110.8 billion in the third quarter, up 15% year-over-year. The revenue figure missed analysts’ estimates of $111.6 billion. Amazon reported earnings per share of $6.12, coming up shy of $8.92 consensus estimate.

Amazon is guiding for fourth-quarter revenue to be in a range of $130 billion to $140 billion, which would be a year-over-year increase of 4% and 12%, respectively. This is below the Street consensus estimate of $142.1 billion.

Equities Trading UP

Guardforce AI Co., Limited GFAI shares shot up 24% to $2.9980 after the company announced it has engaged MZ Group, an investor relations company, to ' lead a comprehensive strategic investor relations and financial communications program.'

Shares of A10 Networks, Inc. ATEN got a boost, shooting 31% to $18.13 after the company reported better-than-expected Q3 results.

Bel Fuse Inc. BELFB shares were also up, gaining 16% to $13.57 following Q3 results.

Check out these big movers of the day

Equities Trading DOWN

CareDx, Inc CDNA shares tumbled 35% to $45.50 following Q3 results. Raymond James maintained CareDx with a Strong Buy and lowered the price target from $108 to $90.

Shares of Onion Global Limited OG were down 38% to $5.55 after the company reported a $25 million private placement.

4D Molecular Therapeutics, Inc. FDMT was down, falling 23% to $23.80 after the company priced an underwritten public offering of 4,750,000 shares of its common stock at $25.00 per share.

Commodities

In commodity news, oil traded up 0.7% to $83.35, while gold traded down 1% to $1,784.60.

Silver traded down 0.7% Friday to $23.96 while copper fell 1.4% to $4.3745.

Euro zone

European shares closed mixed today. The eurozone’s STOXX 600 rose 0.07%, the Spanish Ibex Index rose 0.35% and the German DAX 30 declined 0.05%. Meanwhile, the London’s FTSE 100 fell 0.16%, French CAC 40 rose 0.38% and Italy’s FTSE MIB declined 0.05%.

Annual inflation rate in the Eurozone increased to 4.1% in October from 3.4% in September. Consumer credit in the UK rose by GBP 0.2 billion in September, while net mortgage borrowing rose to GBP 9.5 billion in September.

Italian gross domestic product expanded by 2.6% quarter-on-quarter during the three months to September, while German economy grew by 1.8% on quarter. Spain's retail sales declined 0.1% from a year ago in September, while the country’s economy grew by 2.0% on quarter in the three months to September. The annual inflation rate in France increased to 2.6% in October from 2.2% in September, while economy grew by 3% quarter-on-quarter in the third quarter.

Economics

Compensation costs for civilian workers in the US rose 1.3% on quarter during the three months ending September.

Personal spending in the US rose 0.6% in September, while personal income fell 1.0%.

The Chicago PMI climbed to 68.4 in October from 64.7 in the prior month.

The University of Michigan's consumer sentiment index rose to 71.7 in October from a preliminary reading of 71.4.

The total number of active U.S. oil rigs rose by 1 to 444 rigs this week, Baker Hughes Inc reported.

Data on farm prices for September will be released at 3:00 p.m. ET.

Check out the full economic calendar here