U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining over 100 points on Friday.
The Dow traded up 0.74% to 51,609.49 while the NASDAQ gained 0.53% to 27,337.51. The S&P 500 also rose, gaining, 0.53% to 7,806.15.
Leading and Lagging Sectors
Real estate shares jumped by 1.7% on Friday.
In trading on Friday, communication services stocks fell by 0.1%.
Top Headline
The University of Michigan’s consumer sentiment index fell to 46.3 in October, recording its lowest level since May and down from market expectations of 47.6.
Equities Trading UP
- WF Holding Ltd (NASDAQ:WFF) shares shot up 43% to $2.94 after the company announced it will be acquired by Viatris.
- Shares of Humana Inc (NYSE:HUM) got a boost, surging 12% to $434.13 after the company said Friday that its 2027 Medicare Advantage Star Ratings improved significantly, with 95% of members enrolled in plans earning at least four stars from the Centers for Medicare and Medicaid Services (CMS).
- Veea Inc (NASDAQ:VEEA) shares were also up, gaining 53% to $5.93 after the company announced it regained Nasdaq compliance.
Equities Trading DOWN
- Alignment Healthcare Inc (NASDAQ:ALHC) shares dipped 16% to $7.28 after the CMS 2027 Medicare Advantage Part D Release downgraded the company’s largest California contract to 3.5 stars, making it ineligible for bonus payments.
- Shares of Park Aerospace Corp (NYSE:PKE) were down 12% to $26.34 following second-quarter results.
- T-Mobile US Inc (NASDAQ:TMUS) was down, falling 10% to $154.50. Shares of major U.S. wireless carriers traded lower after Space Exploration Technologies Corp. (NASDAQ:SPCX) disclosed a deal that could position it as a stronger competitor in the wireless market. On Thursday, SpaceX disclosed the acquisition of the nationwide 800 MHz spectrum portfolio from Grain Management for an undisclosed amount.
Commodities
In commodity news, oil traded down 0.3% to $91.18 while gold traded up 1.4% at $4,215.20.
Silver traded up 2.9% to $61.160 on Friday, while copper rose 2% to $6.6985.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 1.1%, while Spain’s IBEX 35 Index gained 1.1%, London’s FTSE 100 rose 1.2%, Germany’s DAX gained 1.3%, while France’s CAC 40 jumped 1.1%.
Asia Pacific Markets
Asian markets closed mostly higher on Friday, with Japan’s Nikkei 225 falling 0.02%, Hong Kong’s Hang Seng Index jumping 1.79%, China’s SSE Composite Index rising 0.05% and India’s BSE Sensex gaining 1.23%.
Economics
The University of Michigan’s consumer sentiment index fell to 46.3 in October, recording its lowest level since May and down from market expectations of 47.6.
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