U.S. stocks traded mostly higher this morning, with the Dow Jones gaining around 200 points on Friday.
Following the market opening Friday, the Dow traded up 0.66% to 30,533.76 while the NASDAQ rose 0.10% to 10,625.19. The S&P 500 also rose, gaining, 0.44% to 3,681.79.
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Leading and Lagging Sectors
Energy shares climbed 1.1% on Friday. Leading the sector was strength from Newpark Resources, Inc. (NYSE:NR) and EOG Resources, Inc. (NYSE:EOG).
In trading on Friday, communication services shares dipped 1.3%.
Top Headline
Verizon Communications Inc. (NYSE:VZ) company reported better-than-expected Q3 earnings.
Verizon posted quarterly earnings of $1.32 per share, beating analysts’ estimates of $1.29 per share. The company’s quarterly sales came in at $34.20 billion, versus expectations of $33.78 billion.
Equities Trading UP
- Ascent Solar Technologies, Inc. (NASDAQ:ASTI) shares shot up 17% to $5.97 after jumping over 57% on Thursday.
- Shares of Veris Residential, Inc. (NYSE:VRE) got a boost, shooting 17% to $14.56 after Kushner Companies made an offer to acquire the company for $16 per share..
- Hawaiian Holdings, Inc. (NASDAQ:HA) shares were also up, gaining 11% to $15.57. Hawaiian Airlines announced an agreement with Amazon to operate freighter aircraft.
Equities Trading DOWN
- Immunic, Inc. (NASDAQ:IMUX) shares tumbled 75% to $2.3299 after the company reported the pre-planned Phase 1b interim analysis of IMU-935 in psoriasis patients was confounded by a high placebo rate. Two active arms did not separate from the placebo.
- Shares of Snap Inc. (NYSE:SNAP) were down 30% to $7.57 following Q3 results. The company said it will not provide Q4 expectations due to uncertainties in the operating environment but believes it is likely that year-over-year revenue growth will decelerate as it moves through Q4. The company also said total time spend watching content in the US decreased 5% year over year.
- Tenet Healthcare Corporation (NYSE:THC) was down, falling 28% to $38.94 after the company reported worse-than-expected Q3 sales results and issued Q4 and FY22 adjusted EPS and sales guidance below estimates.
Commodities
In commodity news, oil traded up 1.2% to $85.48, while gold traded up 0.2% at $1,640.30.
Silver traded down 0.2% to $18.65 on Friday while copper rose 0.1% to $3.4115.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 1.4%, London’s FTSE 100 fell 0.5% while Spain’s IBEX 35 Index fell 2.1%. The German DAX dropped 0.9%, French CAC 40 declined 1.4% and Italy’s FTSE MIB Index fell 1.2%.
Retail sales in the UK fell 1.4% month-over-month in September versus a revised 1.8% drop in the previous month, while GfK Consumer Confidence indicator in the country increased to - 47 in October.
Economics
The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 99,037,430 cases with around 1,092,400 deaths. India confirmed a total of at least 44,638,630 cases and 528,950 deaths, while France reported over 36,475,510 COVID-19 cases with 156,250 deaths. In total, there were at least 632,146,040 cases of COVID-19 worldwide with more than 6,580,130 deaths.
