US stocks closed the trading day on a high note, with the Nasdaq Composite leading the charge, gaining over 100 points. The Dow Jones Industrial Average and S&P 500 also saw positive movement, rising by 0.32% and 0.45% respectively. This surge in the market can be attributed to a strong jobs report released earlier in the day.
The US economy added 254,000 jobs in September, surpassing market estimates of 147,000. This robust job creation further fueled the already optimistic sentiment surrounding the economy, boosting investor confidence. The unemployment rate also fell to 4.1% in September, down from 4.2% in August.
Within the sectors, consumer discretionary shares saw a notable increase, jumping by 0.7%. In contrast, real estate shares experienced a dip, falling by 1.6%.
Several individual stocks also made significant moves. Phoenix Motor Inc. (PEV) shares soared by 127% to $0.79, following the company’s announcement of a substantial increase in first-quarter results. Apogee Enterprises, Inc. (APOG) shares also surged by 24% to $84.76, driven by the company’s better-than-expected second-quarter financial results and raised FY25 adjusted EPS guidance. Beneficient (BENF) shares saw a significant gain of 68% to $1.99, following the announcement of a transaction involving its subsidiary, Beneficient Company Holdings.
On the flip side, AMTD Digital Inc. (HKD) shares fell by 17% to $4.3411, while ZIM Integrated Shipping Services Ltd. (ZIM) shares dropped by 13% to $18.93. Spirit Airlines, Inc. (SAVE) saw a significant decline of 27% to $1.63, following a report suggesting the company might be considering filing for bankruptcy.
In the commodities market, oil prices rose by 1.2% to $74.62, while gold prices fell by 0.4% to $2,667.50. Silver traded down by 1.3% to $32.055, and copper prices rose by 0.4% to $4.5720.
European shares also ended the day in positive territory. The Eurozone’s STOXX 600 rose by 0.48%, Germany’s DAX gained 0.64%, and France’s CAC 40 climbed 1.15%. Spain’s IBEX 35 Index and London’s FTSE 100 also saw gains of 0.24% and 0.21%, respectively.
Asian markets closed mixed. Japan’s Nikkei 225 gained 0.22%, Hong Kong’s Hang Seng Index rose by 2.82%, while India’s BSE Sensex dipped by 0.98%.
