Nasdaq Gains Over 100 Points; US Consumer Sentiment Rises In November
U.S. stocks traded higher midway through trading, with the Dow Jones gaining more than 500 points on Friday.
The Dow traded up 1.20% to 46,299.83 while the NASDAQ rose 0.66% to 22,224.05. The S&P 500 also rose, gaining, 0.91% to 6,598.00.
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Leading and Lagging Sectors
Health care shares jumped by 2.4% on Friday.
In trading on Friday, information technology stocks rose by just 0.1%.
Top Headline
The University of Michigan's consumer sentiment index edged higher to 51.0 in November versus a preliminary reading of 50.3.
Equities Trading UP
- Iveda Solutions Inc (NASDAQ:IVDA) shares shot up 28% to $0.8351 after the company announced an expansion of its regional strategy in Egypt with a new tri-lateral manufacturing partnership between the Arab Organization for Industrialization and ZeroTech.
- Shares of Nuvve Holding Corp (NASDAQ:NVVE) got a boost, surging 42% to $0.2327 after the company announced it entered into an Memorandum of Understanding with The City of Socorro and Socorro Electric Cooperative to collaborate on accelerating transportation electrification, modernizing local electric infrastructure and strengthening community resilience.
- Enviri Corporation (NYSE:NVRI) shares were also up, gaining 29% to $17.50 after the company announced a $3.04 billion clean earth sale to Veolia and spin off its new Enviri business.
Equities Trading DOWN
Elastic N.V. (NYSE:ESTC) shares dropped 15% to $69.96. Elastic posted upbeat second-quarter earnings after Thursday's closing bell.
Shares of authID Inc (NASDAQ:AUID) were down 22% to $1.3350 after the company announced pricing of approximately $3,675,000 registered direct offering.
Pasithea Therapeutics Corp (NASDAQ:KTTA) was down, falling 21% to $0.3337. The company announced interim Phase 1 data from its ongoing first-in-human trial evaluating PAS-004 in patients with MAPK pathway-driven advanced solid tumors with a documented RAS, NF1 or RAF mutation, or in patients who have failed prior BRAF/MEK inhibition.
Commodities
In commodity news, oil traded down 2.3% to $57.65 while gold traded up 0.1% at $4,065.80.
Silver traded down 2% to $49.315 on Friday, while copper rose 0.1% to $4.9715.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.52%, while Spain's IBEX 35 Index fell 1.19%. London's FTSE 100 fell 0.07%, Germany's DAX 40 declined 0.86% and France's CAC 40 fell 0.17% during the session.
Asia Pacific Markets
Asian markets closed lower on Friday, with Japan's Nikkei 225 dipping 2.40%, Hong Kong's Hang Seng falling 2.38%, China's Shanghai Composite falling 2.45% and India's BSE Sensex declining 0.47%.
Economics
- The University of Michigan's consumer sentiment index edged higher to 51.0 in November versus a preliminary reading of 50.3.
- U.S. wholesale inventories came in flat month-over-month to about $908 billion in August, compared to a revised 0.1% gain in July.
- The S&P Global composite PMI climbed to 54.8 in November from 54.6 in October and higher than market estimates of 54.5.
- The S&P Global services PMI rose to 55 in November versus 54.8 in the previous month.
- The S&P Global manufacturing PMI declined to 51.9 in November, recording the lowest reading in four months.
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