Here's what happened on Wall Street on Friday, Nov. 10.
The major averages were able to pare their losses from earlier in the session with the Nasdaq even managing to finish just in the green, rising 0.01% on the day.
The S&P 500 and Dow Jones finished in the red for the second straight session, finishing the week down for the first time in nine weeks.
Bitcoin Continues Volatility
Cryptocurrency bitcoin's record high above $7000 was short lived as it tumbled more than $1000 over the last 48 hours as investors switched over to rival Bitcoin Cash, sending its value up a third.
Bitcoin was trading at $6,651 Friday afternoon.
Las Vegas Autonomous Driving Crash to be Investigated by Feds
The U.S. National Transportation Safety Board is sending agents to Las Vegas to investigate the minor accident between a self-driving shuttle and a delivery truck.
None of the shuttle's eight passengers were injured and the crash was blamed on human error.
"The shuttle did what it was supposed to do, in that its sensors registered the truck and the shuttle stopped," the city said of the crash.
Alibaba Estimates Selling $1.5 Billion in Inventory in 3 Minutes
Single's Day in China has been an incredible success with over $1.5 billion in goods being sold in the first three minutes of the annual online sale, according to online retailer Alibaba (BABA) .
Last year Alibaba alone reported selling nearly $18 billion worth of goods. The annual event, which has grown exponentially over the years, is bigger than Black Friday and Cyber Monday in the U.S. combined.
It is estimated that China's delivery people will be shipping 1.5 billion items in the wake of the sale.
J.C. Penney Spikes on Stronger-Than-Expected Quarter
Shares of struggling retailer J.C. Penney Co (JCP) were up nearly 15% Friday morning after the company reported a loss of 33 cents per share -- $0.10 better than analysts were expecting for the period.
The company used a slew of discounts to increase same-store sales 1.7% in the period, more than three times what analysts were expecting for the quarter.
Snap Hopes for Greater Spectacle Success Across the Pond
Snapchat parent company Snap Inc. (SNAP) hopes to recoup some of the $40 million it lost on its failed Spectacle camera glasses product by selling the shades in the U.K. for the first time.
The spectacles will retail for £130 in the U.K.
EA Purchases Developer of Popular Titanfall Video Game Series
Electronic Arts (EA) announced that it was purchasing video game studio Respawn Entertainment Friday, and in turn, acquiring the intellectual property behind one of the most popular video games around, Titanfall.
Respawn confirmed Friday that it is working on the next chapter in the Titanfall series, as well as a new Star Wars game and a virtual reality game.
EA shares were down slightly Friday morning.
Film Business Helps Disney Recover From Weak Quarter
Disney (DIS) shares were rising nearly 3% premarket, recovering from the swoon the stock experienced after hours Thursday following its earnings miss.
Investors still see a bright future for the company's film division, even as its television segment continues to underperform. Disney announced plans to produce another trilogy for its popular Star Wars franchise, which it purchased for $4 billion in 2012.
Disney's Marvel franchise has already paid significant dividends -- and its latest hit, Thor: Ragnarok, is closing in on $500 million in global ticket sales just a week after its release.
Additionally, the company announced that its content streaming service will be priced "significantly lower" than rival Netflix (NFLX) .
Amazon to Sell Echos and Kindles at Whole Foods
Amazon (AMZN) will use this holiday season to begin selling its electronic devices at about 100 Whole Foods locations about six months after it acquired the grocery chain for nearly $14 billion.
Amazon will sell Echos, Fire Sticks, Kindles and more of its growing hardware portfolio at the locations. Most gadgets will be featured in unmanned displays at the stores, though a handful will feature staffed pop-up shops.
Nvidia Rises Premarket Following Earnings Beat
Nvidia (NVDA) shares were up nearly 5% premarket after the company reported third-quarter earnings of $1.33 per share on revenue of $2.64 billion, well ahead of Wall Street's expectations of earnings of $0.94 per share on revenue of $2.36 billion.
While Action Alerts PLUS holding Nvidia's video game chip segment remains its moneymaker, the company is seeing increased revenue from its data center business.
"We've been steadfast with the excitement of accelerated computing for data centers. And I think this is just the beginning of it all," Chief Executive Jensen Huang said.
Uber Loses U.K. Driver Rights Appeal
Uber has lost an appeal over drivers' rights in the U.K., with a tribunal ruling that drivers working for the company have to be classified as workers instead of self-employed contractors. The ruling means that Uber employees are subject to holiday benefits and a minimum wage.
"Almost all taxi and private-hire drivers have been self-employed for decades, long before our app existed. The main reason why drivers use Uber is because they value the freedom to choose if, when and where they drive, and so we intend to appeal. The tribunal relies on the assertion that drivers are required to take 80% of trips sent to them when logged into the app. As drivers who use Uber know, this has never been the case in the U.K.," said Uber U.K.'s acting General Manager, Tom Elvidge.
Premarket
U.S. futures contracts were trading in the red Friday, suggesting that markets were headed for another dismal open after losing much of the gains they made in the previous session.
S&P 500 and Nasdaq contracts were down 0.37% and 0.35%, respectively, while the Dow Jones Industrial Average fell 0.22%.
Markets were falling as trepidation about the possibility of tax reform rises after the Senate released their version of a tax bill a week after the House released theirs. The two bills have significant differences that must be negotiated -- including the Senate version having seven tax brackets, when President Donald Trump has consistently advocated for no more than four.
