U.S. shares rose on Friday, with all three main averages at or close to all-time highs, as buyers digested third-quarter earnings outcomes.
Netflix’s (NFLX) third-quarter earnings report was robust. The firm added 5.1 million subscribers and beat Wall Street’s income and revenue estimates. Netflix shares rose about 7% in early buying and selling on Friday, hitting all-time highs.
Intuitive Surgical (ISRG) additionally reported robust third-quarter outcomes, beating Wall Street estimates on each income and earnings. The firm’s shares additionally rose about 7% on Friday morning, hitting an all-time excessive.
With 13% of S&P 500 (SPY) firms having already reported third-quarter outcomes, 82% are beating earnings estimates by a median margin of 6%, whereas 67% are beating income estimates by a median margin of two%, in line with Fundstrat information.
Investors are additionally evaluating new information on the housing market, with housing begins in September reaching 1.35 million, a slight lower from 1.36 million in August. Additionally, constructing permits fell to 1.45 million in September from 1.48 million in August.
Looking forward to subsequent week, buyers might be watching the discharge of the September financial indicators index, information on present dwelling gross sales and US shopper confidence.
Main US indices at today’s opening:
- S&P 500 (SPY): 5,851.46, a rise of 0.17%
- Dow Jones Industrial Average (DAY): 43,083.60, a drop of 0.36% (-155.45 factors)
- Nasdaq Composite (QQQ): 18,484.21, a rise of 0.64%
Other occasions of the day:
- Bitcoin (BTC) continues to rise as the chances improve that Donald Trump, dubbed the ‘crypto president’, will win market bets.
- According to Citi (C), oil costs may soar 62% by early 2025 if the geopolitical state of affairs worsens.
- Billionaire investor Stanley Druckenmiller stated he regrets promoting his total stake in Nvidia (NVDA) and is contemplating shopping for it again.
In commodities, bonds and cryptocurrencies:
- West Texas Intermediate Crude Oil: Down 1.54% to $69.01 per barrel.
- Brent: Down 1.45% to $73.37 per barrel.
- Gold: Up 0.55% to $2,722.30 per ounce.
- 10-Year Treasury Yield: A drop of 1 foundation level to 4.08%.
- Bitcoin (BTC): up 0.67% to $67,861.
