Toward the end of trading Friday, the Dow traded up 1.25% to 27149.76 while the NASDAQ rose 2.16% to 10,902.51. The S&P also rose, gaining 1.53% to 3,296.22.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 6,979,930 cases with around 202,820 deaths. India confirmed a total of at least 5,818,570 confirmed cases and 92,290 deaths, while Brazil reported over 4,657,700 COVID-19 cases with 139,800 deaths. In total, there were at least 32,261,670 cases of COVID-19 worldwide with over 983,490 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Information technology shares rose 2.3% on Friday. Meanwhile, top gainers in the sector included MobileIron, Inc. MOBL, up 17%, and Ideanomics, Inc. IDEX, up 16%.
In trading on Friday, energy shares rose by just 0.1%.
Top Headline
Costco Wholesale Corporation COST reported weaker-than-expected results for its fourth quarter.
Costco reported quarterly earnings of $3.13 per share, exceeding analysts’ estimates of $2.83 per share. The company reported sales of $52.28 billion, surpassing expectations of $52.08 billion.
Costco’s quarterly comparable sales surged 11.4% year over year, while e-commerce sales jumped 90.6%.
Equities Trading UP
Standard AVB Financial Corp. STND shares shot up 72% to $32.30 after the company announced it would get acquired by Dollar Mutual for $158 million in cash.
Shares of Prelude Therapeutics Incorporated PRLD got a boost, shooting 45% to $27.48 after pricing its IPO at $19 per share.
SG Blocks, Inc. SGBX shares were also up, gaining 38% to $2.10 after the company and Grimshaw announced plans to build modular coronavirus testing centers for Los Angeles International Airport.
Equities Trading DOWN
Sunworks, Inc. SUNW shares tumbled 47% to $2.0748 after jumping 239% on Thursday.
Shares of Siyata Mobile Inc. SYTA were down 27% to $4.36 after the company priced its IPO at $6 per share.
SPI Energy Co., Ltd. SPI was down, falling 26% to $9.68, selling off from heavy momentum in recent days after the company announced a new electric vehicle subsidiary.
Commodities
In commodity news, oil traded down 0.3% to $40.18, while gold traded down 0.5% to $1,867.90.
Silver traded down 0.2% Friday to $23.145 while copper rose 0.2% to $2.9740.
Euro zone
European shares closed mostly lower today. The eurozone’s STOXX 600 declined 0.10%, the Spanish Ibex Index fell 0.23%, while Italy’s FTSE MIB Index dropped 1.1%. Meanwhile, the German DAX 30 declined 1.09%, French CAC 40 fell 0.69% and London’s FTSE 100 gained 0.34%.
Consumer sentiment in the U.K. rose slightly to minus 25 in September, versus minus 27 in August.
Economics
U.S. durable goods orders increased 0.4% in August, versus a revised 11.7% surge in July.
The total number of active U.S. oil rigs rose by 4 to 183 rigs this week, Baker Hughes Inc reported.
Federal Reserve Bank of New York President John Williams will speak at 3:10 p.m. ET.
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