Dow Surges 150 Points; JPMorgan Posts Upbeat Earnings - JPMorgan Chase (NYSE:JPM)

U.S. stocks traded mixed this morning, with the Dow Jones index gaining around 150 points on Friday.

Following the market opening Friday, the Dow traded up 0.37% to 42,610.09 while the NASDAQ fell 0.19% to 18,247.84. The S&P 500 also rose, gaining, 0.14% to 5,789.34.

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Leading and Lagging Sectors

Financials shares jumped by 1.3% on Friday.

In trading on Friday, consumer discretionary shares fell by 0.7%.

Top Headline

JPMorgan Chase & Co. (NYSE:JPM) reported better-than-expected third-quarter FY24 earnings.

Reported revenue rose 7% year-on-year to $42.654 billion, beating the consensus of $41.649 billion. Net revenue (managed) stood at $43.3 billion (+6% Y/Y) in the quarter. Net income fell 2% Y/Y to $12.90 billion in the quarter. EPS of $4.37, exceeding the consensus of $4.00.

Equities Trading UP

Top Wealth Group Holding Limited (NASDAQ:TWG) shares shot up 123% to $4.7247. The company priced its $10.8 million public offering of 27 million ordinary shares at $0.40 per share.
Shares of ZenaTech Inc (NASDAQ:ZENA) got a boost, surging 48% to $2.61 after declining around 5% on Thursday.
Conduit Pharmaceuticals Inc (NASDAQ:CDT) shares were also up, gaining 45% to $0.15 after AstraZeneca reported a 9.9% stake in the company.

Equities Trading DOWN

Inno Holdings Inc (NASDAQ:INHD) shares dropped 25% to $3.60.
Shares of Perspective Therapeutics Inc (NYSE:CATX) were down 19% to $10.79. Perspective Therapeutics announced plans to advance development of radiopharmaceutical therapy [212Pb]VMT01 after data at Society for Melanoma Research Congress.
noco-noco Inc (NASDAQ:NCNC) was down, falling 16.1% to $0.098.

Commodities

In commodity news, oil traded down 0.9% to $75.16 while gold traded up 1.1% at $2,667.10.

Silver traded up 1.2% to $31.620 on Friday, while copper rose 0.8% to $4.4635.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.4%, Germany's DAX gained 0.4% and France's CAC 40 rose 0.3%. Spain's IBEX 35 Index rose 0.4%, while London's FTSE 100 rose 0.1%.

The UK’s trade deficit shrank to £0.96 billion in August compared to a revised £4.71 billion gap in July, while the British economy grew by 0.2% month-over-month in August. Industrial production in the UK climbed 0.5% month-over-month in August. The annual inflation rate in Germany fell to 1.6% in September from 1.9% in August

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 0.57%, China's Shanghai Composite Index dipping 2.55% and India's BSE Sensex falling 0.28%.

Industrial production in India fell 0.1% year-over-year in August compared to a revised 4.7% gain in July.

Economics

Core producer prices in the U.S. increased by 0.2% from the previous month for September compared to a 0.3% rise in August.

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