US stock indices struggled higher on Friday, which put inflation concerns in the rearview mirror.
The Dow Jones Industrial Average rose 179 points, or 0.5%, while the S&P 500 index and Nasdaq Composite index rose 0.72% and 1%, respectively. The gains came a day after investors digested the hottest inflation rate in 31 years.
| ticker | safety | Last | Change | Change % |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGE VALUES | 36100.31 | +179.08 | + 0.50% |
| SP500 | S&P 500 | 4682.85 | +33.58 | + 0.72% |
| Me: COMP | NASDAQ COMPOSITE INDEX | 15860.957679 | +156.68 | + 1.00% |
The report provoked modest sales on US Treasuries, which closed Thursday for Veterans Day, with the 10-year bond yield increasing 3 basis points to 1.58%.
In the equity sector, the Dow component Johnson & Johnson announced that it would split into two companies in order to separate its consumer health division from its pharmaceutical division. The separation should be completed in 18 to 24 months.
| ticker | safety | Last | Change | Change % |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 165.01 | +1.95 | +1.20% |
Tesla CEO Elon Musk has sold an additional 639,737 shares in the company valued at $ 687 million, according to a regulatory filing published on Friday. The sale comes days after it sold $ 5 billion worth of shares.
| ticker | safety | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA, INC. | 1,033.42 | -30.09 | -2.83% |
Lordstown Motors Corp. said commercial production of its Endurance electric pickup truck would be delayed to the third quarter of next year compared to the second quarter due to the global supply chain crisis. The company reported a smaller than expected loss in another quarter of no sales.
| ticker | safety | Last | Change | Change % |
|---|---|---|---|---|
| JOURNEY | LORDSTOWN MOTORS | 5.68 | -1.21 | -17.56% |
Rivian Automotive Inc. stocks remain in focus after rising 58% in the first two days of trading after the company valued its IPO at $ 78 per share. The company ended the session Thursday with a market cap of more than $ 100 billion, which is roughly one-tenth the size of Tesla.
| ticker | safety | Last | Change | Change % |
|---|---|---|---|---|
| RIVN | RIVIAN AUTOMOTIVE INC. | 129.95 | +6.96 | + 5.66% |
Alibaba Group Holding Ltd. and JD.com Inc. achieved record sales of $ 139 billion at the Chinese Singles Day shopping event. The event, which previously only lasted one day, lasted about two weeks.
| ticker | safety | Last | Change | Change % |
|---|---|---|---|---|
| BABA | ALIBABA GROUP HOLDING LTD. | 166.81 | -1.04 | -0.62% |
| JD | JD.COM, INC. | 85.95 | +1.75 | + 2.08% |
In commodities, West Texas Intermediate crude fell 80 cents to $ 80.79 an ounce, while gold rose $ 4.70 to $ 1,867.90 an ounce.
The overseas markets were mostly higher.
European trading was mixed, with the German DAX 30 and French CAC 40 rising 0.07% and 0.45%, respectively, while the UK’s FTSE 100 fell 0.49%.
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In Asia, the Chinese Shanghai Composite Index rose 0.18%, the Hong Kong Hang Seng Index rose 0.32% and the Japanese Nikkei 225 rose 1.13%.
