HomeMarket NewsMicro Cap StocksStock Market Update: Nasdaq Soars 250 Points, Trade Desk Revenue Forecast Disappoints

Stock Market Update: Nasdaq Soars 250 Points, Trade Desk Revenue Forecast Disappoints

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U.S. stocks saw significant gains on Friday, with the Nasdaq Composite surging about 250 points. The Dow climbed 0.94% to 34,211.92, while the NASDAQ rose 1.86% to 13,773.36, and the S&P 500 also posted a solid gain, rising 1.35% to 4,406.16.

Leading and Lagging Sectors

Information technology shares experienced a robust surge of 2.1% on Friday, signaling a positive sentiment toward tech stocks. Meanwhile, health care shares saw a modest rise of just 0.05%.

Top Headline: Trade Desk, Inc. Issues Weak Revenue Forecast

The Trade Desk, Inc. (TTD) reported upbeat results for its third quarter but disappointed investors by issuing a weak revenue guidance for the current quarter. The company’s quarterly earnings of 33 cents per share surpassed the analyst consensus estimate of 29 cents. Additionally, it posted quarterly sales of $493.27 million, outperforming the analyst consensus estimate of $487.16 million. However, the Trade Desk’s fourth-quarter revenue outlook of $580 million fell short of the $610.82 million estimate, raising concerns among investors.

Equities Trading UP

Several equities made notable gains on Friday, including:

  • TRACON Pharmaceuticals, Inc. (TCON), which saw its shares surge 53% to $0.2443 after reporting third-quarter financial results.
  • Direct Digital Holdings, Inc. (DRCT) witnessed a 32% increase in its stock price, reaching $3.44, following better-than-expected third-quarter financial results.
  • Marpai, Inc. (MRAI) experienced a 55% surge in its share price to $0.5931 after confirming the withdrawal of the registration statement on Form S-1, with no actual securities sold.

Equities Trading DOWN

On the other hand, some equities faced declines, with companies such as Babcock & Wilcox Enterprises, Inc. (BW), Plug Power Inc. (PLUG), and 2U, Inc. (TWOU) witnessing significant drops in their stock prices following their respective third-quarter financial results and revenue outlooks.


In commodity news, oil prices surged by 2.1% to $77.30, while gold prices slumped by 1.4% to $1,942.80. Silver and copper also experienced declines, with silver falling by 2.4% to $22.355 and copper dropping by 1.3% to $3.5930 on Friday.

Euro Zone and Asia Pacific Markets

European shares closed lower, with various indices such as the STOXX 600, FTSE 100, IBEX 35, DAX, CAC 40, and FTSE MIB all witnessing declines. In Asia, stock markets closed mostly lower, except for India’s S&P BSE Sensex, which saw a modest rise. Notably, Hong Kong’s GDP grew by 4.1% year-over-year in the third quarter, displaying positive economic growth.


The University of Michigan consumer sentiment dropped to 60.4 in November, marking the lowest reading in six months. Additionally, the total number of active U.S. oil rigs fell by 2 to 494 rigs this week, as reported by Baker Hughes Inc.

Overall, the stock market witnessed notable movements and developments across various sectors and regions, reflecting the dynamic nature of global financial markets.

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