In mid-Friday trading, U.S. stock indices displayed a mixed performance, evidencing investor caution amid shifting economic indicators. The Dow Jones Industrial Average posted gains, rising 0.27% to stand at 48,195.28, marking an increase of over 100 points. Conversely, the NASDAQ Composite retreated by 0.14% to 23,209.54, and the S&P 500 edged down marginally by 0.01%, closing at 6,845.25.
Sector dynamics revealed a divergence, with utilities shares appreciating 0.8%, reflecting some defensive buying, while consumer discretionary shares declined by 1%, possibly reflecting investor risk aversion in the sector. These sector shifts took place against a backdrop of economic data showing a slowdown in U.S. manufacturing expansion.
Manufacturing Activity Moderates
The S&P Global manufacturing Purchasing Managers’ Index (PMI) decreased to 51.8 in December from 52.2 in November, signaling a moderation in manufacturing sector growth, though remaining in expansion territory. This reading is an important gauge of economic health, reflecting new orders, production levels, and employment within manufacturing.
Equity Winners and Losers
Among gainers, ChowChow Cloud International Holdings Limited (NYSE:CHOW) experienced a notable 29% surge in share price, reaching $0.78. The jump came after the company reported year-over-year increases in first-half 2025 revenue and net income, indicating solid operational performance.
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) shares rose 43% to $4.80 following the company’s issuance of fiscal year 2026 guidance, likely providing investors with forward-looking insights supporting optimism.
AgEagle Aerial Systems, Inc. (NYSE:UAVS) gained 35% to $1.10 after announcing the sale of six eBee TAC tactical mapping drones to the U.S. Army, underpinning confidence in the company’s government contract pipeline.
Conversely, Outlook Therapeutics, Inc. (NASDAQ:OTLK) shares declined significantly by 57% to $0.67. This drop followed the Food and Drug Administration’s issuance of a complete response letter on the company’s biologics license application (BLA) resubmission for ONS-5010/LYTENAVA, indicating that the FDA is unable to approve the application in its present form for treating wet age-related macular degeneration.
Intelligent Bio Solutions Inc (NASDAQ:INBS) shares fell 19% to $7.74 amid the company’s announcement of plans to raise additional capital, which may have diluted investor sentiment.
Semilux International Ltd. (NASDAQ:SELX) shares dropped 20% to $0.65 after the company disclosed receipt of a Nasdaq delisting notification, raising concerns about the company’s continued listing status and future trading liquidity.
Commodities and Global Markets
Crude oil prices declined by 1.3% to $56.67 per barrel as oil markets faced downward pressures. Gold experienced a minimal uptick of 0.1%, trading at $4,346.50, maintaining its role as a safe haven. Silver saw a notable increase of 3%, reaching $72.685, while copper prices edged up modestly by 0.1%, closing at $5.6840.
European stock indices mostly moved higher: the STOXX 600 index increased by 0.60%, Spain's IBEX 35 advance by 0.83%, and France's CAC 40 grew by 0.29%, albeit with Germany’s DAX slipping marginally by 0.01%. London's FTSE 100 also rose by 0.32%, displaying generally positive investor sentiment across major European markets.
In the Asia-Pacific region, markets closed strongly on Friday. Hong Kong’s Hang Seng Index surged 2.76%, and India’s BSE Sensex increased by 0.67%, reflecting robust regional buying activity amid global uncertainty.
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