Dow Tumbles 500 Points; NY Manufacturing Activity Surges In May

U.S. stocks traded lower this morning, with the Dow Jones index falling around 500 points on Friday.

Following the market opening Friday, the Dow traded down 1% to 49,562.35 while the NASDAQ dipped 1.79% to 26,158.37. The S&P 500 also fell, dropping, 1.29% to 7,404.51.

Leading and Lagging Sectors

Energy shares jumped by 1.2% on Friday.

In trading on Friday, information technology stocks fell by 2.2%.

Top Headline

The NY Empire State Manufacturing Index rose to 19.6 in May from 11 in the previous month, also topping market estimates of 7.5. The latest reading signalled showed that New York manufacturing activity surged at its fastest pace in more than four years.

Equities Trading UP
           

• Hcw Biologics Inc (NASDAQ:HCWB) shares shot up 283% to $1.29 after the clinical-stage biopharmaceutical company posted first-quarter results.
• Shares of Dreamland Ltd (NASDAQ:TDIC) got a boost, surging 102% to $1.62.
• Auddia …

Full story available on Benzinga.com