US stocks showed an upward trend during this Friday’s session. The Dow Jones index gained around 250 points.
The Dow rose 0.63% to 42,722.78, while the NASDAQ rose 0.14% to 18,306.94. The S&P 500 also rose, gaining 0.39% to 5,802.82.
Leading and lagging sectors
Financial stocks jumped 2% on Friday.
On the day of trading, consumer discretionary stocks rose just 0.1%.
Stock market news
The actions of Wells Fargo & Company (NYSE:WFC) rose more than 5% on Friday, after the company reported better-than-expected earnings for its third quarter.
It reported generally accepted accounting standards (GAAP) EPS of $1.42, beating consensus of $1.28. Revenue fell 2% to $20.37 billion. Analysts expected $20.41 billion.
Stocks on the rise
- The actions of Top Wealth Group Holding Limited (NASDAQ:TWG) rose 156% to $5.40. The company priced its $10.8 million public offering for 27 million shares of common stock at $0.40 per share.
- The actions of Pacific Biosciences of California Inc (NASDAQ:PACB) received a boost, rising 14% to $1.76 after the company announced the signing of a research collaboration agreement with the National Cancer Center in Singapore. The project will use the company’s sequencing technologies.
- The actions of Conduit Pharmaceuticals Inc (NASDAQ:CDT) also rose, gaining 44% to $0.1472 after AstraZeneca reported a 9.9% stake in the company.
Stocks falling
- The actions of Tesla, Inc. (NASDAQ:TSLA) fell 8% to $220.01 following the presentation of its Cybercab, with investors evaluating a potential scenario for 2026 or 2027.
- The actions of Perspective Therapeutics Inc (NYSE:CATX) fell 15% to $11.32. The company announced its plans to advance the development of radiopharmaceutical therapy [212Pb]VMT01 after data from the Society for Melanoma Research conference.
- A. O. Smith Corporation (NYSE:AOS) was lower, falling 6% to $81.42 after the company reported lower-than-expected preliminary third-quarter results and cut its fiscal 2024 EPS outlook below forecast .
Raw materials
Oil prices fell 0.5% to $75.44. For their part, gold prices rose 1.1% to reach $2,667.70.
Silver also rose 1.5% to $31.705 on Friday, while copper rose 1.1% to $4.4780.
Zone euro
European stocks were higher today. The euro zone’s STOXX 600 index gained 0.61%, Germany’s DAX gained 0.77% and France’s CAC 40 climbed 0.61%. Spain’s IBEX 35 index rose 0.56%, London’s FTSE 100 rose 0.29%.
The UK’s trade deficit narrowed to 0.96 billion pounds in August, compared with a revised deficit of 4.71 billion pounds in July, and the British economy grew by 0.2% in August compared to previous month. Industrial production in the UK increased by 0.5% from the previous month in August. Germany’s annual inflation rate fell to 1.6% in September, from 1.9% in August
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan’s Nikkei 225 up 0.57%, China’s Shanghai Composite Index down 2.55%, and China’s Shanghai Composite Index down 0.28%. for the Sensex of the Indian BSE.
Industrial production in India fell 0.1% year-on-year in August, compared to a 4.7% gain in July (revised data).
Economy
- Core producer prices in the United States rose 0.2% from the previous month for September, compared to a 0.3% increase in August.
- The University of Michigan Consumer Confidence Index fell to 68.9 in October, from 70.1 in September (a five-month low), and compared to market estimates of 70.8.
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