Austrian Situation Spooks Most Stocks, but Techs Gain on Week

Stocks struggled on Friday as concerns over a resurgence of COVID-19 weighed on global markets, though tech shares pushed higher.

The Dow Jones Industrials finished the week with a thud, losing 268.97 points to 35,601.98, or nearly 500 points on the week, or 1.4%.

The S&P 500 index lost 6.58 points to 4,697.96, still keeping intact a gain of more than 15 points, or 0.32% on the week.

The NASDAQ Composite gained 63.23 points to 16,057.44, for a pickup on the week of nearly 200 points, or 1.2%.

Markets took a hit after Austria announced earlier in the day that it would re-enter a full national lockdown due to a spike in COVID cases. Germany also unveiled Thursday more restrictions for unvaccinated people, as a fourth wave sent daily cases to a record high.

Markets moved downward anyway, though they pared back deeper declines from the morning. Shares of air … Read more

Short Week in U.S. Next Week

Monday

U.S.

Economic Lookahead

Existing home sales (Oct.)

Featured Earnings

Zoom Commnications (NASDAQ:ZM) (Q3) EPS projected for 71 cents, compared to 66 cents in the prior-year quarter.

Agilent Technologies Inc. (NYSE:A) (Q4) EPS projected for $1.17, compared to 98 cents in the prior-year quarter.

Keysight Technologies Inc. (NYSE:KEYS) (Q40 EPS projected for $1.51, compared to $1.52 in the prior-year quarter.

Canada

Featured Earnings

Ayr Strategies (C.AYR.A) (Q3) EPS projected for loss of five cents, compared to loss of 36 cents in the prior-year quarter.

Steppe Gold Ltd Steppe Gold Ltd (TSX: STGO) (Q3) EPS projected for loss of four cents, compared to a gain of three cents in the prior-year quarter.

Wecommerce Holdings Ltd.(T.WE) (Q3) EPS projected for one cents, compared to breakeven in the prior-year quarter.

Tuesday

U.S.

Economic Lookahead

Markit Purchasing Managers Index – Manufacturing (Nov.)

Markit PMI – Services (Nov.)

Featured Earnings

Analog Devices Inc.(NASDAQ:ADI) (Q4) EPS … Read more