Dow Surges 150 Points; JPMorgan Posts Upbeat Earnings

U.S. stocks traded mixed this morning, with the Dow Jones index gaining around 150 points on Friday.

Following the market opening Friday, the Dow traded up 0.37% to 42,610.09 while the NASDAQ fell 0.19% to 18,247.84. The S&P 500 also rose, gaining, 0.14% to 5,789.34.

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Leading and Lagging Sectors

Financials shares jumped by 1.3% on Friday.

In trading on Friday, consumer discretionary shares fell by 0.7%.

Top Headline

JPMorgan Chase & Co. JPM reported better-than-expected third-quarter FY24 earnings.

Reported revenue rose 7% year-on-year to $42.654 billion, beating the consensus of $41.649 billion. Net revenue (managed) stood at $43.3 billion (+6% Y/Y) in the quarter. Net income fell 2% Y/Y to $12.90 billion in the quarter. EPS of $4.37, exceeding the consensus of $4.00.

Equities Trading UP
                       

• Top Wealth Group Holding Limited TWG shares shot up 123% to $4.7247. The company priced its $10.8 million public offering of 27 million ordinary shares at $0.40 per share.
• Shares of ZenaTech Inc ZENA got a boost, surging 48% to $2.61 after declining around 5% on Thursday.
• Conduit Pharmaceuticals Inc CDT shares were also up, gaining 45% to $0.15 after AstraZeneca reported a 9.9% stake in the company.

Equities Trading DOWN

• Inno Holdings Inc INHD shares dropped 25% to $3.60.
• Shares of Perspective Therapeutics Inc CATX were down 19% to $10.79. Perspective Therapeutics announced plans to advance development of radiopharmaceutical therapy [212Pb]VMT01 after data at Society for Melanoma Research Congress.
• noco-noco Inc NCNC was down, falling 16.1% to $0.098.

Commodities

In commodity news, oil traded down 0.9% to $75.16 while gold traded up 1.1% at $2,667.10.

Silver traded up 1.2% to $31.620 on Friday, while copper rose 0.8% to $4.4635.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.4%, Germany's DAX gained 0.4% and France's CAC 40 rose 0.3%. Spain's IBEX 35 Index rose 0.4%, while London's FTSE 100 rose 0.1%.

The UK’s trade deficit shrank to £0.96 billion in August compared to a revised £4.71 billion gap in July, while the British economy grew by 0.2% month-over-month in August. Industrial production in the UK climbed 0.5% month-over-month in August. The annual inflation rate in Germany 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 gaining 0.57%, China's Shanghai Composite Index dipping 2.55% and India's BSE Sensex falling 0.28%.

Industrial production in India fell 0.1% year-over-year in August compared to a revised 4.7% gain in July.

Economics

Core producer prices in the U.S. increased by 0.2% from the previous month for September compared to a 0.3% rise in August.

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