US Stocks Edge Lower; Advance Auto Parts Posts Upbeat Earnings

U.S. stocks traded lower this morning, with the Dow Jones index falling around 0.1% on Friday.

Following the market opening Friday, the Dow traded down 0.13% to 49,387.55 while the NASDAQ fell 0.23% to 22,545.67. The S&P 500 also fell, dropping, 0.04% to 6,830.79.

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Leading and Lagging Sectors

Utilities shares gained by 1.5% on Friday.

In trading on Friday, communication services stocks fell by 0.6%.

Top Headline

Advance Auto Parts, Inc. (NYSE:AAP) reported better-than-expected fourth-quarter financial results.

Advance Auto Parts reported quarterly earnings of 86 cents per share which beat the analyst consensus estimate of 42 cents per share. The company reported quarterly sales of $1.973 billion which beat the analyst consensus estimate of $1.952 billion.

Equities Trading UP
           

• Moolec Science SA (NASDAQ:MLEC) shares shot up 69% to $8.62 after the company announced results from the crushing process of its U.S. GLASO1 safflower platform.
• Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) got a boost, surging 62% to $7.45 after the company reported better-than-expected quarterly financial results.
• Neo-Concept International Group Holdings Limited (NASDAQ:NCI) shares were also up, gaining 35% to $2.94.

Equities Trading DOWN

• Mega Fortune Company Limited (NASDAQ:MGRT) shares dropped 40% to $7.44.
• Shares of Braiin Limited (NASDAQ:BRAI) were down 42% to $25.80.
• GeoVax Labs, Inc. (NASDAQ:GOVX) was down, falling 25% to $1.73.

Commodities

In commodity news, oil traded down 0.3% to $62.67 while gold traded up 1.4% at $5,016.60.

Silver traded up 2.1% to $77.285 on Friday, while copper fell 0.8% to $5.7420.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.5%, while Spain's IBEX 35 Index fell 1.6%. London's FTSE 100 slipped 0.1%, Germany's DAX fell 0.1% and France's CAC 40 dipped 0.6% during the session.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei falling 1.21%, Hong Kong's Hang Seng Index falling 1.72%, China's Shanghai Composite dipping 1.26% and India's BSE Sensex declining 1.25%.

Economics

The annual inflation rate eased to 2.4% in January, recording its lowest level since May, compared to 2.7% in the previous month and down from market estimates of 2.5%.

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