Dow Falls 100 Points; US Manufacturing PMI Rises In January

Author: Avi Kapoor | January 24, 2025 12:03pm

U.S. stocks traded lower midway through trading, with the Dow Jones index falling over 100 points on Friday.

The Dow traded down 0.24% to 44,458.34 while the NASDAQ fell 0.08% to 20,036.71. The S&P 500 also fell, dropping, 0.06% to 6,115.26.

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Leading and Lagging Sectors

Utilities shares surged by 0.7% on Friday.

In trading on Friday, energy shares fell by 0.6%.

Top Headline

The S&P Global manufacturing PMI rose to 50.1 in January versus 49.4 in December, versus market estimates of 49.7

Equities Trading UP

Allurion Technologies Inc. (NASDAQ:ALUR) shares shot up 205% to $11.29 after the company announced plans to raise approximately $7.4 million of gross proceeds in offering priced at-the-market.
Shares of Dana Incorporated (NYSE:DAN)got a boost, surging 17% to $15.52 after the company provided FY25 guidance.
Twilio Inc. (NYSE:TWLO) shares were also up, gaining 21% to $137.15 after the company issued fourth-quarter earnings guidance above estimates and a year-over-year revenue increase. Multiple analysts raised their price targets on the stock.

Equities Trading DOWN

U Power Limited (NASDAQ:UCAR) shares dropped 25% to $5.77 after the company announced the pricing of $5 million registered direct offering.
Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) were down 16% to $21.00 after the company reported a year-over-year decrease in fourth-quarter adjusted EPS results.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was down, falling 12% to $7.88 after the company reported worse-than-expected fourth-quarter financial results.

Commodities

In commodity news, oil traded down 0.2% to $74.47 while gold traded up 0.7% at $2,785.20.

Silver traded up 1% to $31.16 on Friday, while copper fell 0.2% to $4.32.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.07%, Germany's DAX 40 fell 0.13% and France's CAC 40 gained 0.30%. Spain's IBEX 35 Index fell 0.23%, while London's FTSE 100 fell 0.67%.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 falling 0.07%, China's Shanghai Composite Index gaining 0.70%, Hong Kong's Hang Seng Index gaining 1.86% and India's BSE Sensex falling 0.43%.

Economics

The S&P Global services PMI declined to 52.8 in January from 56.8 in the previous month, compared to market expectations of 56.5.
The S&P Global manufacturing PMI rose to 50.1 in January versus 49.4 in December, versus market estimates of 49.7

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