U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 100 points on Friday.
Following the market opening Friday, the Dow traded up 0.13% to 49,508.69 while the NASDAQ surged 0.51% to 23,649.47. The S&P 500 also rose, gaining, 0.28% to 6,963.79.
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Leading and Lagging Sectors
Information technology shares gained by 0.9% on Friday.
In trading on Friday, utilities stocks dipped by 1.2%.
Top Headline
M&T Bank (NYSE:MTB) reported upbeat earnings for the fourth quarter on Friday.
The company posted quarterly earnings of $4.72 per share which beat the analyst consensus estimate of $4.47 per share. The company reported quarterly sales of $2.475 billion which beat the analyst consensus estimate of $2.474 billion.
Equities Trading UP
- Venus Concept Inc (NASDAQ:VERO) shares shot up 367% to $6.68. Madryn Asset Management reported a stake of 91% in Venus Concept in an amended 13D filing on Thursday.
- Shares of Jeffs Brands Ltd (NASDAQ:JFBR) got a boost, surging 131% to $1.29 after the company announced its subsidiary, KeepZone AI, entered into a non-exclusive distribution agreement with STI.
- Locafy Ltd (NASDAQ:LCFY) shares were also up, gaining 74% to $5.46 after the company announced it expanded its partnership with Experience.com.
Equities Trading DOWN
- Callan JMB Inc (NASDAQ:CJMB) shares dropped 29% to $2.98. Callan JMB recently signed a strategic teaming agreement with Biostax Corp d/b/a Attune Biotech to provide comprehensive federal oversight services.
- Shares of Youlife Group Inc (NASDAQ:YOUL) were down 24% to $0.96.
- Erayak Power Solution Group Inc (NASDAQ:RAYA) was down, falling 24% to $3.00. Shares of electrical equipment companies traded lower amid overall market weakness.
Commodities
In commodity news, oil traded up 1.1% to $59.82 while gold traded down 0.6% at $4,598.10.
Silver traded down 4.6% to $88.070 on Friday, while copper fell 2.9% to $5.8170.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.1%, while Spain’s IBEX 35 Index rose 0.1%. London’s FTSE 100 slipped 0.1%, Germany’s DAX fell 0.2% and France’s CAC 40 slipped 0.6% during the session.
Asia Pacific Markets
Asian markets closed mostly lower on Friday, with Japan’s Nikkei falling 0.32%, Hong Kong’s Hang Seng Index declining 0.29%, China’s Shanghai Composite falling 0.26% and India’s BSE Sensex gaining 0.23%.
Economics
The Federal Reserve Bank of New York’s general business activity index climbed to -16.1 in January from -20.0 in the prior month.
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