US Stocks Mixed; Dell Posts Weak Sales

U.S. stocks traded mixed this morning, with the Dow Jones index gaining over 80 points on Friday.

Following the market opening Friday, the Dow traded up 0.23% to 36,033.47 while the NASDAQ fell 0.20% to 14,197.42. The S&P 500 also rose, gaining, 0.05% to 4,570.08.

 

Top Headline

Dell Technologies Inc. DELL reported mixed results for its third quarter.

Dell reported quarterly earnings of $1.88 per share, topping the analyst consensus estimate of $1.47. Revenue of $22.25 billion missed the analyst consensus estimate of $23.00 billion.

 

Equities Trading UP

Harbor Custom Development, Inc. HCDI shares shot up 109% to $1.80.

Shares of View, Inc. VIEW got a boost, shooting 120% to $1.39.

Green Giant Inc. GGE shares were also up, gaining 99% to $0.3643.

 

Equities Trading DOWN

Polar Power, Inc. POLA shares dropped 49% to $0.43. Polar Power priced public offering of 4 million common shares at $0.40 per share for gross proceeds of $1.6 million.

Shares of Ampio Pharmaceuticals, Inc. AMPE were down 38% to $3.56 after surging 194% on Thursday.

Smart for Life, Inc. SMFL was down, falling 38% to $1.49. Smart for Life announced exercise of warrants for $1.5 million gross proceeds.

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Commodities

In commodity news, oil traded up 0.6% to $76.40 while gold traded up 0.4% at $2,064.30.

Silver traded up 0.1% to $25.66 on Friday while copper rose 0.2% to $3.8955.

 

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.8%, London's FTSE 100 rose 1% while Spain's IBEX 35 Index rose 0.7% The German DAX rose 0.8% French CAC 40 rose 0.5%, while Italy's FTSE MIB Index rose 0.6%.

The HCOB Eurozone manufacturing PMI was revised higher to 44.2 in November from 43.1 in the prior month. The HCOB German manufacturing PMI was revised higher to 42.6 versus flash reading of 42.3.

The S&P Global/CIPS UK manufacturing PMI was revised higher to 47.2 in November from the initial reading of 46.7, while French manufacturing PMI rose to 42.9 in November from a preliminary estimate of 42.6.

 

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 falling 0.17%, Hong Kong's Hang Seng Index falling 1.25% and China's Shanghai Composite Index gaining 0.06%. India's S&P BSE Sensex, meanwhile, climbed 0.7%.

The S&P Global manufacturing PMI for India climbed to 56.0 in November from October's reading of 55.5. The Caixin China general manufacturing PMI increased to 50.7 in November from 49.5 a month ago. The au Jibun Bank Japan manufacturing PMI was revised higher to 48.3 for November compared to preliminary reading of 48.1, while unemployment rate fell to 2.5% in October.

 

Economics

Construction spending in the U.S. increased by 0.6% month-over-month to an annual rate of $2,027.1 billion in October.

The ISM Manufacturing PMI came in unchanged at 46.7 in November.

The S&P Global manufacturing PMI was confirmed at 49.4 for November.

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