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Investing.com – U.S. stocks were lower after the close on Friday, as losses in the Basic Materials, Technology and Industrials sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average fell 0.36%, while the S&P 500 index lost 0.43%, and the NASDAQ Composite index declined 0.94%.

The best performers of the session on the Dow Jones Industrial Average were Verizon Communications Inc (NYSE:VZ), which rose 11.83% or 4.71 points to trade at 44.52 at the close. Meanwhile, Chevron Corp (NYSE:CVX) added 3.34% or 5.71 points to end at 176.90 and Coca-Cola Co (NYSE:KO) was up 1.88% or 1.38 points to 74.81 in late trade.

The worst performers of the session were Visa Inc Class A (NYSE:V), which fell 2.99% or 9.93 points to trade at 321.87 at the close. 3M Company (NYSE:MMM) declined 2.06% or 3.22 points to end at 153.16 and Unitedhealth Group (NYSE:UNH) was down 1.83% or 5.36 points to 286.93.

The top performers on the S&P 500 were Deckers Outdoor Corporation (NYSE:DECK) which rose 19.46% to 119.34, Verizon Communications Inc (NYSE:VZ) which was up 11.83% to settle at 44.52 and Charter Communications Inc (NASDAQ:CHTR) which gained 7.62% to close at 206.12.

The worst performers were KLA Corporation (NASDAQ:KLAC) which was down 15.24% to 1,427.94 in late trade, Newmont Goldcorp Corp (NYSE:NEM) which lost 11.49% to settle at 112.35 and Western Digital Corporation (NASDAQ:WDC) which was down 10.12% to 250.23 at the close.

The top performers on the NASDAQ Composite were eLong Power Holding Ltd (NASDAQ:ELPW) which rose 3,141.11% to 13.94, Phoenix Asia Holdings Ltd (NASDAQ:PHOE) which was up 997.44% to settle at 133.12 and Innovation Beverage Group Ltd (NASDAQ:IBG) which gained 456.72% to close at 3.73.

The worst performers were Kaixin Auto Holdings (NASDAQ:KXIN) which was down 88.15% to 1.20 in late trade, Brand Engagement Network Inc (NASDAQ:BNAI) which lost 52.97% to settle at 24.75 and Twin Hospitality Group Inc (NASDAQ:TWNP) which was down 43.38% to 0.15 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1645 to 1085 and 95 ended unchanged; on the Nasdaq Stock Exchange, 2198 fell and 1216 advanced, while 143 ended unchanged.

Shares in Chevron Corp (NYSE:CVX) rose to 3-years highs; gaining 3.34% or 5.71 to 176.90. Shares in Coca-Cola Co (NYSE:KO) rose to all time highs; gaining 1.88% or 1.38 to 74.81. Shares in Kaixin Auto Holdings (NASDAQ:KXIN) fell to all time lows; losing 88.15% or 8.93 to 1.20. Shares in Phoenix Asia Holdings Ltd (NASDAQ:PHOE) rose to all time highs; rising 997.44% or 120.99 to 133.12. Shares in Twin Hospitality Group Inc (NASDAQ:TWNP) fell to all time lows; falling 43.38% or 0.12 to 0.15.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 3.26% to 17.43.

Gold Futures for April delivery was down 8.61% or 460.84 to $4,893.96 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.50% or 0.33 to hit $65.75 a barrel, while the April Brent oil contract rose 0.40% or 0.28 to trade at $69.87 a barrel.

EUR/USD was down 0.99% to 1.19, while USD/JPY rose 1.09% to 154.78.

The US Dollar Index Futures was up 0.88% at 96.98.

Investing.com – Canada stocks were lower after the close on Friday, as losses in the Materials, IT and Industrials sectors led shares lower.

At the close in Toronto, the S&P/TSX Composite lost 3.31%.

The best performers of the session on the S&P/TSX Composite were Brookfield Renewable Energy Partners LP (TSX:BEP_u), which rose 6.03% or 2.31 points to trade at 40.62 at the close. Meanwhile, 5N Plus Inc. (TSX:VNP) added 3.57% or 0.83 points to end at 24.08 and Bausch Health Companies Inc (TSX:BHC) was up 3.44% or 0.26 points to 7.81 in late trade.

The worst performers of the session were NovaGold Resources Inc (TSX:NG), which fell 19.91% or 2.95 points to trade at 11.87 at the close. First Majestic Silver Corp. (TSX:AG) declined 16.45% or 5.58 points to end at 28.35 and Perpetua Resources Corp (TSX:PPTA) was down 16.28% or 7.04 points to 36.19.

Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 588 to 399 and 59 ended unchanged.

Shares in 5N Plus Inc. (TSX:VNP) rose to all time highs; gaining 3.57% or 0.83 to 24.08.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 26.46% to 19.31 a new 1-month high.

Gold Futures for April delivery was down 8.51% or 455.80 to $4,899.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.57% or 0.37 to hit $65.79 a barrel, while the April Brent oil contract rose 0.46% or 0.32 to trade at $69.91 a barrel.

CAD/USD was down 0.96% to 0.73, while CAD/EUR unchanged 0.05% to 0.62.

The US Dollar Index Futures was up 0.88% at 96.98.

Investing.com – Colombia stocks were lower after the close on Friday, as losses in the Financials, Investment and Public Services sectors led shares lower.

At the close in Colombia, the COLCAP declined 0.75%.

The best performers of the session on the COLCAP were Etb (BVC:ETB), which rose 7.53% or 3.50 points to trade at 50.00 at the close. Meanwhile, Grupo Bolivar SA (BVC:SCA) added 1.04% or 1,000.00 points to end at 97,500.00 and Ecopetrol SA (BVC:ECO) was up 0.43% or 10.00 points to 2,350.00 in late trade.

The worst performers of the session were Mineros SA (BVC:MAS), which fell 3.57% or 780.00 points to trade at 21,080.00 at the close. Grupo Energia Bogota SA ESP (BVC:GEB) declined 2.95% or 100.00 points to end at 3,295.00 and Banco Davivienda Pf (BVC:DVI_p) was down 2.76% or 800.00 points to 28,200.00.

Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 0 to 0 and 1 ended unchanged.

Shares in Grupo Bolivar SA (BVC:SCA) rose to 3-years highs; up 1.04% or 1,000.00 to 97,500.00.

US coffee C for March delivery was down 3.50% or 12.10 to $333.40 . Elsewhere in commodities trading, US cocoa for delivery in March rose 0.55% or 23.00 to hit $4,200.00 , while the April Gold Futures contract fell 8.28% or 443.35 to trade at $4,911.45 a troy ounce.

USD/COP was up 0.90% to 3,673.85, while BRL/COP fell 0.53% to 698.12.

The US Dollar Index Futures was up 0.88% at 96.98.

Investing.com – Russia stocks were lower after the close on Friday, as losses in the Mining, Oil & Gas and Telecoms sectors led shares lower.

At the close in Moscow, the MOEX Russia Index declined 0.55%.

The best performers of the session on the MOEX Russia Index were Mobil’nye Telesistemy PJSC (MCX:MTSS), which rose 0.04% or 0.10 points to trade at 227.00 at the close. Meanwhile, GDR ROS AGRO PLC ORD SHS (MCX:AGRODR) unchanged 0.00% or 0.00 points to end at 1,083.80 and AFK Sistema PJSC (MCX:AFKS) was down 0.32% or 0.04 points to 13.41 in late trade.

The worst performers of the session were MMC NORILSK NICKEL PJSC (MCX:GMKN), which fell 6.12% or 10.40 points to trade at 160.10 at the close. OK Rusal MKPAO (MCX:RUAL) declined 5.62% or 2.34 points to end at 39.28 and Polyus PJSC (MCX:PLZL) was down 3.87% or 104.80 points to 2,601.20.

Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 196 to 49 and 8 ended unchanged.

Shares in GDR ROS AGRO PLC ORD SHS (MCX:AGRODR) unchanged to 52-week lows; unchanged 0.00% or 0.00 to 1,083.80.

The Russian Volatility Index – RVI, which measures the implied volatility of MOEX Russia Index options, was up 0.34% to 26.61.

Gold Futures for April delivery was down 8.80% or 471.26 to $4,883.54 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.55% or 0.36 to hit $65.78 a barrel, while the April Brent oil contract rose 0.46% or 0.32 to trade at $69.91 a barrel.

USD/RUB was up 0.07% to 76.00, while EUR/RUB fell 0.89% to 90.09.

The US Dollar Index Futures was up 0.88% at 96.99.

Investing.com -- Wall Street slid on Friday, as risk-off sentiment gripped market participants. A spectacular unwinding of the precious metals trade, along with hotter-than-expected producer inflation data, clouded the mood. The big news of the day was President Donald Trump’s nomination of former Federal Reserve governor Kevin Warsh as the new central bank chair. 

At 14:54 ET (19:54 GMT), the benchmark S&P 500 index dropped 0.4% to 6,940.40 points, the tech-heavy NASDAQ Composite slipped 0.8% to 23,501.90 points, and the blue-chip Dow Jones Industrial Average fell 0.4% to 48,885.96 points.

After a massive runup, precious metals cratered as investors locked in their massive gains. Gold prices were headed for their worst day in decades, while silver was headed for its worst day ever.  

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Warsh nominated for Fed chair role

"(Warsh) will go down as one of the GREAT Fed Chairmen, maybe the best," Trump said on his Truth Social service in announcing his pick. 

Warsh had been considered one of the frontrunners for the job. His nomination comes at a time when Trump is at odds with current Fed Chair Jerome Powell over the state of interest rates.

Trump has long ridiculed Powell for not lowering rates and has threatened to fire him. His administration has opened an investigation into the central bank chief, an action that Powell in an extraordinary move said was because of the Fed not taking rate decisions based on the president’s preference. 

"Market moves are relatively muted considering the magnitude of the change. That’s largely because Warsh was both an unsurprising pick and someone who is already a known figure in Fed circles," Steve Sosnick, chief strategist at Interactive Brokers, told Investing.com.

Warsh served as a Fed Governor from 2006 to 2011. He lost out to Powell for the Fed chair role in 2017. Recently, Warsh has largely aligned himself with Trump’s calls for lower rates in the past year, but was a long-time critic of the ultra-loose monetary policy pursued by the Fed since the financial crisis, including the central bank’s expanded balance sheet.

"Stocks may be a bit disappointed in that he is not particularly dovish – odd considering that the president seemed to really want someone who would share his desire for lower rates," Sosnick added. 

Warsh’s nomination will likely ease concerns about the independence of the Fed in light of his history and past hawkishness.  

Elsewhere, Trump publicly endorsed a bipartisan spending deal negotiated by Senate Republicans and Democrats that would avert a looming government shutdown, posting support on Truth Social and urging cooperation.

The compromise would fund most federal agencies while leaving contentious immigration issues for further negotiation.

Reports said Democrat and Republican leaders had also agreed to the deal, although it remained unclear when Congress will vote on the matter. Lawmakers have until midnight, Friday, to release more spending for the federal government. 

Hot December producer inflation

Traders also received some economic data before the opening bell that further reinforced the Fed’s decision earlier this week to hold interest rates steady.

The core December producer price index (PPI) came in 0.7% higher on a M/M basis, and 3.3% higher on a Y/Y basis. Both figures were well above the consensus estimates. 

The delayed PPI data suggested that inflation was still very much a sticky problem. 

"PPI data was hot. The three month and six month moving averages hottest since 2022," Diane Swonk, chief economist at KPMG U.S., said. 

"The components that feed into the Federal Reserve’s target measure of inflation, the PCE index were not as bad but underscore why the Fed needs to pause and see what shows up. It is the reason that Chair Powell was cautious on not declaring victory over inflation yet," she added.  

Apple’s iPhone sales surge

In the corporate sector, investors received more earnings from the likes of Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), American Express (NYSE:AXP), and Verizon (NYSE:VZ).

After the close Thursday, Apple (NASDAQ:AAPL) comfortably beat profit and revenue expectations for the holiday quarter, its fiscal first quarter, enjoying its best quarterly iPhone sales growth performance in over four years.

iPhone sales jumped 23.3% year-on-year to $85.27 billion, marking the biggest increase since the fourth quarter of 2021.

The tech giant also forecast higher-than-expected revenue growth of up to 16% for the March quarter, powered by strong demand for its iPhones and a sharp rebound in China and accelerating demand in India.

Still, Apple’s shares slipped over 1% lower as sales in other parts of the company were less positive.

Verizon (NYSE:VZ) stock jumped after the telecoms giant reported fourth-quarter earnings and revenue that exceeded expectations, while providing an upbeat outlook for 2026 that signals the beginning of a strategic turnaround. 

Chevron (NYSE:CVX) stock rose after its oil major’s fourth-quarter profits fell but came in ahead of estimates as it focused on cutting costs and making its operations more efficient to contend with lower crude prices throughout 2025.

In other moves, SanDisk (NASDAQ:SNDK) shares surged after the storage-chip maker delivered a significant profit beat and raised guidance, as demand for data-center and AI-related memory products outpaced forecasts.

Gold, silver bloodbath

Gold prices crashed, as Warsh’s nomination quelled central bank independence concerns. Those worries had added to gold’s lure as a safe haven, contributing to the yellow metal’s recent massive runup.

After nearing $5,600/oz early on Wednesday, profit-buyers finally stepped in to lock some profits, halting Spot gold’s eight-day win streak.  

Spot gold was last down 8% to $4,942.63/oz, while Gold Futures for April fell 7.3% to $4,966.71/oz.  

Other precious metals also slumped on Friday after logging wild swings this week. Spot silver slid a whopping 25.5% to $85.96/oz, tumbling from a Thursday record high, while spot platinum slid 17.6% to $2,159.85/oz. 

Oil prices seesawed after a three-day rally, though they were on track for hefty weekly gains as traders focused on potential U.S. military action against Iran. 

Brent Oil Futures were last up 0.2% to $69.73 a barrel, and Crude Oil WTI Futures were up 0.4% to $65.67 a barrel.

Both benchmarks were set to gain over 7% this week.

The Organization of Petroleum Exporting Countries and allies, known as OPEC+, is set to meet on Sunday, with recent reports indicating that the cartel is likely to keep its output unchanged.

Ambar Warrick, Ayushman Ojha, and Peter Nurse contributed to this report