Dow Jumps Over 200 Points; JPMorgan Earnings Top Estimates

U.S. stocks traded mostly higher this morning, with the Dow Jones gaining more than 200 points on Friday.

Following the market opening Friday, the Dow traded up 0.74% to 33,880.85 while the NASDAQ rose 0.04% to 13,579.61. The S&P 500 also rose, gaining, 0.41% to 4,367.33.

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Leading and Lagging Sectors

 

Energy shares climbed by 1.7% on Friday.

In trading on Friday, information technology shares rose by just 0.1%.

 

Top Headline

 

JPMorgan Chase & Co JPM reported better-than-expected earnings for its third quarter on Friday.

JPMorgan reported quarterly net revenue (managed) of $40.7 billion, up 21% Y/Y, beating the consensus of $39.57 billion. EPS was $4.33, beating the consensus of $3.96.

 

Equities Trading UP

 

Sigma Additive Solutions, Inc. SASI shares shot up 172% to $6.85 after the company announced the signing of a definitive agreement for the acquisition of NextTrip Holdings, Inc.

Shares of Bio-Path Holdings, Inc. BPTH got a boost, shooting 111% to $0.83 after gaining more than 6% on Thursday.

Versus Systems Inc. VS shares were also up, gaining 55% to $0.5131 after jumping more than 52% on Thursday.

 

Equities Trading DOWN

 

Outset Medical, Inc. OM shares dropped 50% to $3.40. The company announced preliminary revenue for the third quarter of $30.4 million, below the consensus estimate of $36.03 million.

Shares of Bellerophon Therapeutics, Inc. BLPH were down 45% to $0.2201.

Secoo Holding Limited SECO was down, falling 35% to $0.6626.

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Commodities

 

In commodity news, oil traded up 3.8% to $86.05 while gold traded up 2% at $1,920.90.

Silver traded up 2.7% to $22.56 on Friday while copper fell 0.4% to $3.5765.

 

Euro zone

 

European shares were lower today. The eurozone’s STOXX 600 fell 0.4% London’s FTSE 100 fell 0.1% while Spain’s IBEX 35 Index fell 0.6% The German DAX fell 0.8% French CAC 40 fell 0.7%, while Italy’s FTSE MIB Index fell 0.4%.

Spain's annual consumer price inflation rose to a five-month high of 3.5% in September from 2.6% in August. The annual inflation rate in France came in at 4.9% in September, unchanged versus the prior month.

 

Asia Pacific Markets

 

Asian markets closed mostly lower on Friday, with Japan’s Nikkei 225 falling 0.55%, China’s Shanghai Composite Index falling 2.33% and Hong Kong’s Hang Seng Index dropping 0.64%. India’s S&P BSE Sensex, meanwhile, slipped 0.2%.

India recorded a merchandise trade deficit of $19.4 billion in September, compared to market expectations of a $23.3 billion gap. China's producer prices declined 2.5% year-over-year in September, while consumer prices came in unchanged from a year-ago in September.

 

Economics

 

Export prices in the U.S. increased by 0.7% month-over-month in September.

Import prices rose 0.1% month-over-month in September.

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