Dow Jumps Over 500 Points; US Consumer Sentiment Declines In October - Deckers Outdoor (NYSE:DECK), Datav

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 500 points on Friday.

The Dow traded up 1.19% to 47,289.61 while the NASDAQ rose 1.27% to 23,232.48. The S&P 500 also rose, gaining, 0.98% to 6,804.28.

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Leading and Lagging Sectors

Communication services shares jumped by 1.2% on Friday.

In trading on Friday, energy stocks fell by 0.4%.

Top Headline

The University of Michigan consumer sentiment was revised lower to 53.6 in October compared to a preliminary reading of 55 and versus 55.1 in September.

Equities Trading UP

Wellgistics Health, Inc. (NASDAQ:WGRX) shares shot up 229% to $1.3501. Wellgistics Health has signed a non-binding letter of intent with Datavault AI Inc. (NASDAQ:DVLT), a data sciences technology company, to integrate Datavault’s blockchain-enabled PharmacyChain™ smart contract technology into Wellgistics’ infrastructure.
Shares of Genenta Science S.p.A. (NASDAQ:GNTA) got a boost, surging 108% to $6.81 after the company unveiled an expanded collaboration with biotechnology firm ANEMOCYTE.
Inhibrx Biosciences, Inc. (NASDAQ:INBX) shares were also up, gaining 74% to $49.26 after the company said Ozekibart met its primary endpoint in chondrosarcoma, showing a statistically significant and clinically meaningful improvement in progression-free survival versus placebo.

Equities Trading DOWN

Deckers Outdoor Corporation (NYSE:DECK) shares dropped 13% to $89.00 following second-quarter results. Deckers said it sees fiscal GAAP EPS of $6.30 to $6.39, versus the $6.28 estimate, and revenue of $5.35 billion, versus the $5.45 billion analyst estimate.
Shares of MultiSensor AI Holdings, Inc. (NASDAQ:MSAI) were down 46% to $0.7340 as the company announced pricing of $14 million private placement.
MaxLinear, Inc. (NYSE:MXL) was down, falling 13% to $15.31 after the company reported third-quarter results.

Commodities

In commodity news, oil traded up 0.7% to $62.19 while gold traded down 0.1% at $4,143.10.

Silver traded down 0.4% to $48.530 on Friday, while copper fell 0.2% to $5.0985.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.07%, while Spain's IBEX 35 Index gained 0.15%. London's FTSE 100 rose 0.32%, Germany's DAX 40 rose 0.14% and France's CAC 40 fell 0.30% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Friday, with Japan's Nikkei 225 gaining 1.35%, Hong Kong's Hang Seng index gaining 0.74%, China's Shanghai Composite rising 0.71% and India's BSE Sensex falling 0.41%.

Economics

The S&P Global services PMI climbed to 55.2 in October from 54.2 in the previous month, compared to market expectations of 53.5.
The S&P Global manufacturing PMI surged to 52.2 in October from 52.0 in the previous month and topping estimates of 52.0.
The S&P Global composite PMI jumped to 54.8 in October from 53.9 in September.
The University of Michigan consumer sentiment was revised lower to 53.6 in October compared to a preliminary reading of 55 and versus 55.1 in September.
The year-ahead inflation expectations in the U.S. fell to 4.6% in October from 4.7% in September.

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