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The Rise of Gold and the Plunge in OMNIQ Shares: A Market Analysis

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On Friday, U.S. stocks saw a late-day surge, with the Dow Jones index gaining over 300 points, indicating a positive end to the trading week.

The Dow traded up 1.01% to 33,455.53, while the NASDAQ rose 1.62% to 13,433.35. The S&P 500 also had gains, rising 1.29% to 4,313.19.

For investors and traders in the financial markets, here is an in-depth analysis of significant market movements and key events.

Leading and Lagging Sectors

The information technology sector saw a rise of 1.8% on Friday, indicating strong performance.

Consumer staples, on the other hand, experienced a decline of around 0.7%, suggesting weakness in that sector.

Top Headline

In September, U.S. nonfarm payrolls rose by 336,000, surpassing the revised 227,000 increase recorded in August and beating market estimates of 170,000. However, the unemployment rate remained unchanged at 3.8%, slightly higher than market expectations of 3.7%.

Equities Trading UP

Several equities experienced upward movement on Friday:

  • ParaZero Technologies Ltd. (PRZO) shares surged 53% to $0.9901. The company, along with its partner OVRL, received the first-ever authorization from Australia’s Civil Aviation Safety Agency for drones to operate over populated areas and near people when using ParaZero safety systems.
  • Shares of Vaccinex, Inc. (VCNX) rose 33% to $1.0896. This increase followed two insider buys reported after market close on Thursday.
  • Applied UV, Inc. (AUVI) gained 33% to $0.4071 after announcing its new product, the Airocide Pro+ air purification system for food preservation, which will be showcased at the Global Produce & Floral Show.

Equities Trading DOWN

However, there were also stocks that experienced a decline:

  • CalAmp Corp. (CAMP) shares dropped 33% to $0.3048 after reporting a second-quarter revenue miss. Additionally, Craig-Hallum downgraded the stock to Hold.
  • Shares of OMNIQ Corp. (OMQS) plunged 48% to $0.81 after the company priced its public offering of 3 million common shares at $1 per share.
  • ShiftPixy, Inc. (PIXY) fell 18% to $1.0671 after announcing a $2.5 million registered direct offering and concurrent private placement.

Commodities

In commodity news, oil prices experienced a modest increase of 0.2% to reach $82.47, while the value of gold rose by 0.8% to reach $1,845.50.

Silver, on the other hand, saw a significant increase of 3.3% to reach $21.705, and copper rose by 2.3% to reach $3.6340.

Euro Zone

European shares closed higher on Friday, with the eurozone’s STOXX 600 rising by 0.82%. Other notable gainers include London’s FTSE 100 (+0.58%), Spain’s IBEX 35 Index (+0.85%), Germany’s DAX (+1.06%), French CAC 40 (+0.88%), and Italy’s FTSE MIB Index (+1.16%).

France’s current account deficit shrank to €0.8 billion in August from €1.8 billion in the previous month, while the trade deficit slightly increased to €8.2 billion in August compared to a revised €8.1 billion in the prior month.

In the UK, the Halifax House Price Index fell by 4.7% year-over-year in September, following a revised decline of 4.5% in August. Meanwhile, factory orders in Germany rose by 3.9% month-over-month in August, recovering from the 11.3% decline recorded in July.

Asia Pacific Markets

Asian markets closed mostly higher on Friday. Japan’s Nikkei 225 fell by 0.26%, while Hong Kong’s Hang Seng Index rose by 1.58%. India’s S&P BSE Sensex closed with a gain of 0.7%.

The Reserve Bank of India maintained its benchmark policy repo at 6.5% during its recent meeting. Hong Kong’s foreign exchange reserves decreased to $415.7 billion in September from $418.4 billion in the previous month.

In Japan, the index of leading economic indicators rose to 109.5 in August from a final reading of 108.2 in the previous month. However, household spending in Japan fell by 2.5% year-over-year in August. Average cash earnings in Japan increased by 1.1% year-over-year for August.

Economics

The U.S. nonfarm payrolls report for September showed an increase of 336,000 jobs, surpassing the revised figure of 227,000 for August, and exceeding market estimates of 170,000.

The unemployment rate remained unchanged at 3.8% in September, slightly higher than market expectations of 3.7%.

Average hourly earnings increased by 0.2% to $33.88 in September, maintaining the same pace as the previous month and slightly lower than market estimates of a 0.3% rise.

According to the latest data from Baker Hughes Inc, the total number of active U.S. oil rigs fell by 5 to reach 497 in the current week.

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