Mid-Morning Market Update: Markets Edge Lower; UK Approves Pfizer's Oral COVID-19 Antiviral Treatment

Following the market opening Friday, the Dow traded down 0.05% to 36,379.65 while the NASDAQ fell 0.09% to 15,727.51. The S&P also fell, dropping 0.03% to 4,777.17.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 55,252,820 cases with around 845,740 deaths. India confirmed a total of at least 34,838,800 cases and 481,080 deaths, while Brazil reported over 22,277,230 COVID-19 cases with 619,020 deaths. In total, there were at least 286,977,620 cases of COVID-19 worldwide with more than 5,448,550 deaths.

Leading and Lagging Sectors

Energy shares climbed 0.3% on Friday. Meanwhile, top gainers in the sector included Antero Midstream Corporation AM, up 1.5% and Brooge Energy Limited BROG up 2%.

In trading on Friday, communication services shares fell 0.4%.

Top Headline

Pfizer, Inc.'s PFE oral COVID-19 antiviral treatment Paxlovid was ratified by another health regulator ahead of the dawn of the new year.

The U.K.'s Medicines and Healthcare Products Regulatory Agency announced Friday it has approved Pfizer's Paxlovid for treating COVID-19 infection.

 

Equities Trading UP

Nutriband Inc. NTRB shares shot up 112% to $8.29 after the company announced the Korean Intellectual Property Office has fully issued its patent titled "Abuse and Misuse Deterrent Transdermal System" which is related to the company's lead technology AVERSA.

Shares of Siyata Mobile Inc. SYTA got a boost, shooting 23% to $3.7797. Siyata Mobile, earlier during the month, announced it received a $1.3 million purchase order primarily for police and first responder customers in the EMEA for its SD7 ruggedized devices, VK7 vehicle units and other accessories.

Fathom Digital Manufacturing Corporation FATH shares were also up, gaining 23% to $7.95.

Check out these big movers of the day

Equities Trading DOWN

Star Equity Holdings, Inc. STRR shares tumbled 15% to $2.58. Star Equity Holdings recently named Richard Coleman as COO.

Shares of Stryve Foods, Inc. SNAX were down 18% to $3.71. Stryve Foods recently entered into a new distribution agreement to bring three flavors of its Vacadillos carne seca air-dried meat snacks to nearly 8,000 7-Eleven domestic convenience stores.

Integrated Media Technology Limited IMTE was down, falling 9% to $4.6099. Integrated Media Technology recently reported launching of NFT trading platform.

Commodities

In commodity news, oil traded down 1.3% to $76.03, while gold traded up 0.4% to $1,820.50.

Silver traded up 0.7% Friday to $23.21 while copper rose 0.8% to $4.4280.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.1%, the FTSE 100 slipped 0.3%, while French CAC 40 fell 0.3%.

Economics

The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

Check out the full economic calendar here