U.S. stocks were down on Friday, with the S&P 500 shedding 1.7%. The Dow Jones Industrial Average lost almost 750 points, or 1.6%, while the Nasdaq $NDAQ dipped 2.2% in New York by the end of the day.
The S&P 500, Dow and Nasdaq all declined on Friday as UnitedHealth dragged stocks lower
U.S. stocks were down on Friday, with the S&P 500 shedding 1.7%. The Dow Jones Industrial Average lost almost 750 points, or 1.6%, while the Nasdaq $NDAQ dipped 2.2% in New York by the end of the day.
U.S. housing sales were weaker than expected, amid high prices and mortgage rates. According to the National Association of Realtors, sales of previously owned homes fell 4.9% in January from December, much worse than the anticipated 2.6% decline.
The S&P flash PMIs for February were a mixed bag, with the manufacturing measure improving to 51.5 from 51.2 as the services index weakened to 49.7 in February from 52.9 in January.
Here are stocks to watch today:
Alibaba (BABA) stock extended its rally for a second consecutive day, climbing 5% after delivering strong earnings. The surge was further fueled by reports that GameStop $GME (GME) CEO Ryan Cohen has increased his stake in the Chinese e-commerce giant to approximately 7 million shares, valued at around $1 billion.
Block $SQ’s (SQ) (XYZ) shares dropped more than 17% as the fintech company reported lower profits and missed revenue expectations in its latest earnings release.
Booking (BKNG) Holdings stock advanced after the company reported better-than-expected fourth-quarter results due to a busy holiday season.
Celsius’ (CELH) stock surged over 27% after the soft drink maker reported strong revenue growth last quarter, fueled by key partnerships and international expansion. Due to the volatility, trading was halted after the market opened.
Coinbase (COIN) shares popped up Friday morning but declined later following the news that the Securities and Exchange Commission (SEC) would drop its enforcement case against the company.
Dropbox (DBX) met analysts’ revenue expectations in its quarterly earnings report, but weak guidance for the current quarter disappointed investors, sending its stock down 16%.
UnitedHealth $UNH (UNH) tumbled 8% following reports that the Department of Justice is investigating its Medicare billing practices.
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