US stock markets exhibited a mixed performance midway through trading on Friday, with the tech-heavy Nasdaq Composite leading the way with a gain of over 1%. The Dow Jones Industrial Average, however, traded down by a modest 0.16%, while the broader S&P 500 saw a slight increase of 0.53%.
The spotlight was firmly on the real estate sector, with analysts focusing on high-dividend-yielding stocks. Information technology shares also performed well, closing the day with a 1.4% increase. On the other hand, utilities shares lagged, experiencing a 0.8% dip.
Top Headline:
Colgate-Palmolive Company (CL) delivered better-than-expected earnings for its third quarter. The company reported adjusted earnings per share of 91 cents, exceeding analysts’ forecasts of 89 cents. Quarterly sales also surpassed expectations, coming in at $5.033 billion, a 2.4% increase over the previous year, driven by a healthy mix of volume growth and higher pricing.
Equities Trading UP:
Upexi, Inc. (UPXI) shares surged by a remarkable 225% to $9.75 after the company announced it was reviewing recent trading activity to determine if potential stock manipulation had occurred. AgEagle Aerial Systems, Inc. (UAVS) shares also saw significant gains, climbing 28% to $2.2050. ARB IOT Group Limited (ARBB) shares also performed well, rising 73% to $0.5720.
Equities Trading DOWN:
Top Wealth Group Holding Limited (TWG) shares plunged by a staggering 84% to $2.1096. Capri Holdings Limited (CPRI) shares faced a significant decline of 47% to $21.93 following a report alleging that a judge blocked the company’s acquisition by Tapestry. The company plans to jointly file a notice of appeal with Tapestry to challenge the court’s decision. Evolv Technologies Holdings, Inc. (EVLV) shares also experienced a sharp drop, falling 40% to $2.4450. The Board of Evolv Technology determined that certain financial statements should not be relied upon.
Commodities:
In the commodity market, oil prices rose by 1.6% to $71.28, while gold prices slipped by 0.1% to $2,748.70. Silver prices saw a slight increase of 0.4% to $33.925, while copper prices rose by 0.5% to $4.3720.
Euro Zone:
European shares traded mixed on Friday. The eurozone’s STOXX 600 slipped 0.03%, while Germany’s DAX gained 0.11%. France’s CAC 40 fell 0.08%, Spain’s IBEX 35 Index decreased by 0.23%, and London’s FTSE 100 fell 0.25%.
Asia Pacific Markets:
Asian markets closed mixed on Friday. Japan’s Nikkei 225 index fell 0.60%, while Hong Kong’s Hang Seng Index gained 0.49%. China’s Shanghai Composite Index rose 0.59%, and India’s BSE Sensex fell 0.83%. The Reserve Bank of India’s foreign exchange reserves declined to $688 billion as of October 18, down from $704.9 billion in the final week of September.
Economics:
The University of Michigan consumer sentiment index for the US rose to 70.5 in October, compared to a preliminary reading of 68.9. US durable goods orders fell by 0.8% to $284.8 billion in September, following a revised 0.8% decline in August.