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Dow Jumps Over 200 Points; JPMorgan Earnings Top Estimates

Benzinga ·  Oct 13, 2023 09:48

U.S. stocks traded mostly higher this morning, with the Dow Jones gaining more than 200 points on Friday.

Following the market opening Friday, the Dow traded up 0.74% to 33,880.85 while the NASDAQ rose 0.04% to 13,579.61. The S&P 500 also rose, gaining, 0.41% to 4,367.33.

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Leading and Lagging Sectors

Energy shares climbed by 1.7% on Friday.

In trading on Friday, information technology shares rose by just 0.1%.

Top Headline

JPMorgan Chase & Co (NYSE:JPM) reported better-than-expected earnings for its third quarter on Friday.

JPMorgan reported quarterly net revenue (managed) of $40.7 billion, up 21% Y/Y, beating the consensus of $39.57 billion. EPS was $4.33, beating the consensus of $3.96.

Equities Trading UP

Sigma Additive Solutions, Inc. (NASDAQ:SASI) shares shot up 172% to $6.85 after the company announced the signing of a definitive agreement for the acquisition of NextTrip Holdings, Inc.

Shares of Bio-Path Holdings, Inc. (NASDAQ:BPTH) got a boost, shooting 111% to $0.83 after gaining more than 6% on Thursday.

Versus Systems Inc. (NASDAQ:VS) shares were also up, gaining 55% to $0.5131 after jumping more than 52% on Thursday.

Equities Trading DOWN

Outset Medical, Inc. (NASDAQ:OM) shares dropped 50% to $3.40. The company announced preliminary revenue for the third quarter of $30.4 million, below the consensus estimate of $36.03 million.

Shares of Bellerophon Therapeutics, Inc. (NASDAQ:BLPH) were down 45% to $0.2201.

Secoo Holding Limited (NASDAQ:SECO) was down, falling 35% to $0.6626.

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Commodities

In commodity news, oil traded up 3.8% to $86.05 while gold traded up 2% at $1,920.90.

Silver traded up 2.7% to $22.56 on Friday while copper fell 0.4% to $3.5765.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.4% London's FTSE 100 fell 0.1% while Spain's IBEX 35 Index fell 0.6% The German DAX fell 0.8% French CAC 40 fell 0.7%, while Italy's FTSE MIB Index fell 0.4%.

Spain's annual consumer price inflation rose to a five-month high of 3.5% in September from 2.6% in August. The annual inflation rate in France came in at 4.9% in September, unchanged versus the prior month.

Asia Pacific Markets

Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 falling 0.55%, China's Shanghai Composite Index falling 2.33% and Hong Kong's Hang Seng Index dropping 0.64%. India's S&P BSE Sensex, meanwhile, slipped 0.2%.

India recorded a merchandise trade deficit of $19.4 billion in September, compared to market expectations of a $23.3 billion gap. China's producer prices declined 2.5% year-over-year in September, while consumer prices came in unchanged from a year-ago in September.

Economics

Export prices in the U.S. increased by 0.7% month-over-month in September.

Import prices rose 0.1% month-over-month in September.

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