The beating heart of U.S. markets continues to quicken as the Dow Jones index surges by over 100 points on Friday, setting a brisk tone midway through trading.
The Dow pushes up 0.36% to 39,209.32, NASDAQ inching up 0.01% to 16,042.80, and the steadfast S&P 500 climbing 0.18% to 5,096.40.
Sectoral Rollercoaster
On this enthralling Friday, utilities stocks rise by 0.6% while energy shares stumble by 0.9%.
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AerCap Holdings N.V. AER report an impressive fourth-quarter, painting a mixed picture with total revenue edging up 4% to $1.899 billion, but below the $1.926 billion consensus. Adjusted EPS of $3.11, however, surpasses the projected $2.45.
Stocks Taking Flight
AXT, Inc. AXTI sees a whopping 71% surge to $3.8980 post robust Q4 financial results announcement.
Maravai LifeSciences Holdings, Inc. MRVI rides high with a 65% leap to $8.42 following their stellar fourth-quarter financial performance.
Monopar Therapeutics Inc. MNPR also joins the ascent, climbing 37% to $1.5306 unveiling encouraging preclinical data for their MNPR-101 radiopharma program targeting advanced cancers.
Stocks Faltering
Sequans Communications S.A. SQNS nosedives 62% to $0.9651 after Renesas pulls the plug on the proposed Sequans acquisition.
Shares of Smith Micro Software, Inc. SMSI plummet 41% to $0.48 post weak quarterly sales report.
Upland Software, Inc. UPLD sees a sharp dip, falling 35% to $2.87 following a disappointing quarterly earnings reveal.
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The Commotion in Commodities
Oil experiences a turbulent 2.3% drop to $76.77 while gold glitters up 0.9% at $2,048.00.
Silver shines up 0.7% to $22.95 while copper stumbles by 0.6% to $3.8750.
Insight into the Euro zone
European markets stir with a blend of energy today. The Eurozone’s STOXX 600 ascends 0.43% while London’s FTSE 100 follows suit with a 0.28% rise, the steadfast German DAX and French CAC 40 in sync with a 0.28% and 0.70% gain respectively. Spain’s IBEX 35 takes a slight dip by 0.08%, and Italy’s FTSE MIB Index jumps 1.07% presenting a variegated scene.
In a volley of economic data, the German economy contracts by 0.3% in Q4 of 2023. On a brighter note, the Ifo Business Climate indicator for Germany nudges up to 85.5 in February from 85.2 in January. Despite the uptick, median consumer expectations for Euro zone inflation anticipate a rise to 3.3% in January from 3.2% the previous month. Meanwhile, the GfK Consumer Confidence indicator for the UK takes a hit sliding to -21 in February from -19 in January.
Asian Market Symphony
Asian markets don a mixed ensemble as Hong Kong’s Hang Seng Index takes a slight tumble by 0.10%, China’s Shanghai Composite Index shines bright with a 0.55% gain, and India’s S&P BSE Sensex grins with a 0.1% uptick.
New homes in China dance to a declining tune as prices fall by 0.7% year-over-year in January, a notch below the 0.4% decline witnessed a month prior.
The Economic Pulse
Expect the release of Baker Hughes rig count data for the recent week at 1 p.m. ET.
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