U.S. stocks rallied into the weekend, with the Dow Jones index surging over 100 points on Friday.
Stocks on the Move
Checking the indices, the Dow reached 39,209.32, the NASDAQ stood at 16,042.80, and the S&P 500 climbed to 5,096.40.
Sector Performance
Leading the way were utilities shares, up by 0.6% on Friday, while energy shares dipped by 0.9%.
Top Stock News
AerCap Holdings N.V. posted strong fourth-quarter earnings, with revenues and income up 4% to $1.899 billion.
Meanwhile, AXT, Inc. saw its shares skyrocket 71% to $3.8980, following upbeat Q4 financial results, and Maravai LifeSciences Holdings, Inc. surged 65% to $8.42 after reporting stellar Q4 results.
Monopar Therapeutics Inc. also witnessed a 37% increase, hitting $1.5306 after releasing promising preclinical data.
Stocks in Decline
Sequans Communications S.A. saw a 62% drop to $0.9651 as Renesas axed plans for the Sequans acquisition.
Smith Micro Software, Inc. plummeted 41% to $0.48 on the back of weak quarterly sales, and Upland Software, Inc. fell 35% to $2.87 after disappointing earnings.
Commodities Update
In commodities, oil slid 2.3% to $76.77, gold climbed 0.9% to $2,048.00, silver edged upward by 0.7% to $22.95, and copper dipped 0.6% to $3.8750.
European Markets
European shares rallied, with Germany’s DAX, French CAC 40, and Italy’s FTSE MIB posting gains. However, Spain’s IBEX 35 slipped.
In economic news, Germany’s economy contracted by 0.3% in Q4 2023, while business sentiment improved slightly, and UK’s consumer confidence took a dip.
Asia-Pacific Overview
Asian markets closed mixed, with China’s Shanghai Composite in positive territory, while Hong Kong’s Hang Seng Index trended down.
Chinese new home prices fell by 0.7% year-over-year for January.
Economic Indicators
Baker Hughes rig count data is set for release at 1 p.m. ET.
