U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 450 points on Friday.
The Dow traded up 1.02% to 46,995.67 while the NASDAQ rose 0.29% to 22,910.33. The S&P 500 also rose, gaining, 0.50% to 6,749.20.
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Leading and Lagging Sectors
Utilities shares jumped by 1.9% on Friday.
In trading on Friday, communication services stocks fell by 0.7%.
Top Headline
The ISM services PMI declined to 50 in September from 52 in the previous month and down from market estimates of 51.7.
Equities Trading UP
- Actelis Networks, Inc. (NASDAQ:ASNS) shares shot up 66% to $0.6147 after the company entered a $30 million stock purchase agreement with White Lion Capital.
- Shares of USA Rare Earth, Inc. (NASDAQ:USAR) got a boost, surging 21% to $27.41 on reports indicating the company is in discussions with the White House.
- Red Cat Holdings, Inc. (NASDAQ:RCAT) shares were also up, gaining 18% to $13.62 after Needham initiated coverage on the stock with a Buy rating and announced a $17 price target.
Equities Trading DOWN
- American Rebel Holdings, Inc. (NASDAQ:AREB) shares dropped 26% to $13.73.
- Shares of Roblox Corporation (NYSE:RBLX) were down 6% to $125.47. Wells Fargo analyst Ken Gawrelski maintained Roblox with an Overweight rating and raised the price target from $153 to $155.
- GDEV Inc. (NASDAQ:GDEV) was down, falling 13% to $31.23.
Commodities
In commodity news, oil traded up 1.1% to $61.14 while gold traded up 0.8% at $3,898.40.
Silver traded up 2.8% to $47.675 on Friday, while copper rose 2.4% to $5.0700.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 gained 0.34%, while Spain's IBEX 35 Index rose 0.63%. London's FTSE 100 rose 0.5%, Germany's DAX 40 fell 0.23% and France's CAC 40 gained 0.07% during the session.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 1.85%, Hong Kong's Hang Seng index falling 0.54% and India's BSE Sensex gaining 0.28%.
Economics
- The ISM services PMI declined to 50 in September from 52 in the previous month and down from market estimates of 51.7.
- The S&P Global US services PMI fell to 54.2 in September from 54.5 in the previous month.
- The S&P Global US composite PMI declined to 53.9 in September from August's reading of 54.6.
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