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Stocks are down on Friday as investors bemoan the major indices falling despite recent catalysts this week.
Two major catalysts yesterday that helped the stock market out were the launch of the Arm (NASDAQ:ARM) initial public offering ( ) as well as economic data out of China. Investors hoped that positive momentum would continue into Friday, but instead, stocks are down today.
The Arm public debut saw the company’s shares climb roughly 25% higher on Thursday. However, the stock is only up slightly as of Friday. Also, China’s economy is starting to recover, which eased inflation worries yesterday.
On the flip side of that, strikes are taking place in the U.S. that have some investors concerned. This comes from the United Auto Workers (UAW) as they rally against the Big Three automakers, General Motors (NYSE:GM), Ford (NYSE:F) and Stellantis (NYSE:STLA).
Let’s check out how all of this news is affecting the major stock indices below!
Stock Indices Down on Friday
- Starting us off is the Down Jones, which is down .58% as of Friday morning.
- Next on our list is the S&P 500, with its .91% drop this morning.
- Finally, the Nasdaq Composite is taking a 1.3% beating as of this writing.
Of course, there’s plenty of other stock market news worth keeping up with today!
Luckily, we’ve got breakdowns of all the biggest stock market stories traders need to know about on Friday! A few examples include the latest product plans from AMC Entertainment (NYSE:AMC), more details on those automotive strikes, as well as what’s lifting shares of Canopy Growth (NASDAQ:CGC) stock higher today. All of these matters are covered in detail at the links below!
More Friday Stock Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.