Dow Surges 100 Points; Elastic Shares Jump After Q2 Results

U.S. stocks traded mixed midway through trading, following the release of manufacturing PMI data.

The Dow traded up 0.30% to 36,059 while the NASDAQ fell 0.05% to 14,218.49. The S&P 500 also rose, gaining, 0.13% to 4,573.87.

 

Leading and Lagging Sectors

Energy shares rose by 1.4% on Friday.

In trading on Friday, communication services shares fell by 0.8%.

 

Top Headline

The ISM manufacturing PMI came in unchanged at 46.7 in November, versus market estimates of 47.6.

 

Equities Trading UP

Elastic N.V. ESTC shares shot up 32% to $105.93 after the company reported better-than-expected second-quarter financial results and issued guidance.

Shares of UiPath Inc. PATH got a boost, shooting 24% to $24.49 after the company reported upbeat third-quarter financial results on Thursday.

Samsara Inc. IOT shares were also up, gaining 16% to $31.99 after the company reported better-than-expected third-quarter financial results and issued strong guidance.

 

Equities Trading DOWN

Polar Power, Inc. POLA shares dropped 49% to $0.43. Polar Power priced public offering of 4 million common shares at $0.40 per share for gross proceeds of $1.6 million.

Shares of Fathom Holdings Inc. FTHM were down 9% to $2.50. Fathom Holdings announced proposed primary and secondary offering of common stock.

Smart for Life, Inc. SMFL was down, falling 38% to $1.49. Smart for Life announced exercise of warrants for $1.5 million gross proceeds.

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Commodities

In commodity news, oil traded down 0.1% to $75.86 while gold traded up 0.9% at $2,075.00.

Silver traded up 0.1% to $25.695 on Friday while copper rose 1.6% to $3.91.

 

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 1%, London's FTSE 100 rose 1.1% while Spain's IBEX 35 Index rose 0.7% The German DAX rose 1% French CAC 40 rose 0.5%, while Italy's FTSE MIB Index rose 0.6%.

The HCOB Eurozone manufacturing PMI was revised higher to 44.2 in November from 43.1 in the prior month. The HCOB German manufacturing PMI was revised higher to 42.6 versus flash reading of 42.3.

The S&P Global/CIPS UK manufacturing PMI was revised higher to 47.2 in November from the initial reading of 46.7, while French manufacturing PMI rose to 42.9 in November from a preliminary estimate of 42.6.

 

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 falling 0.17%, Hong Kong's Hang Seng Index falling 1.25% and China's Shanghai Composite Index gaining 0.06%. India's S&P BSE Sensex, meanwhile, climbed 0.7%.

The S&P Global manufacturing PMI for India climbed to 56.0 in November from October's reading of 55.5. The Caixin China general manufacturing PMI increased to 50.7 in November from 49.5 a month ago. The au Jibun Bank Japan manufacturing PMI was revised higher to 48.3 for November compared to preliminary reading of 48.1, while unemployment rate fell to 2.5% in October.

 

Economics

Construction spending in the U.S. increased by 0.6% month-over-month to an annual rate of $2,027.1 billion in October.

The ISM Manufacturing PMI came in unchanged at 46.7 in November.

The S&P Global manufacturing PMI was confirmed at 49.4 for November.

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