American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

S&P 500, Nasdaq rise sharply ending 3-day losing streak; Viking Therapeutics surge, while Capri’s shares slump

by admin October 26, 2024
October 26, 2024
S&P 500, Nasdaq rise sharply ending 3-day losing streak; Viking Therapeutics surge, while Capri’s shares slump

US benchmark equity averages rose on Friday as the market ended a three-day losing streak. 

At the time of writing, the Dow Jones Industrial Average was up 0.3%, while S&P 500 rose 0.8% from the previous close.

The Nasdaq Composite gained more than 1.3% on Friday. 

Nasdaq and S&P 500 ended in the green on Thursday buoyed by positive earnings results of Tesla and as Treasury yields fell in the US. 

The 10-year Treasury yield fell from its three-month highs touched on Wednesday. 

Shares of Centene and Microsoft rise

Shares of Centene are rallying after the health insurer’s third quarter profits exceeded expectations, driven by rate increases in Medicaid programs and higher membership in its health insurance exchange business. 

Microsoft’s stock gained after Chief Executive Officer Satya Nadella was given a pay package worth over $79 million for fiscal year 2024, a 63% increase from last year.

The package would have been $5 million higher if Nadella had not taken a pay cut to reflect cybersecurity risks in the company. 

Meanwhile, shares of Colgate-Palmolive fell on Friday despite beating third-quarter earnings expectations and raising guidance. 

Viking Therapeutics’ stock soars

Shares of Viking Therapeutics surged nearly 10% on Friday after the biotech company’s third quarter earnings beat analysts’ expectations. 

According to Yahoo Finance, Wall Street currently holds 13 buy ratings on the stock. 

Additionally, shares of Deckers Outdoor surged 14%, following its robust earnings results.

Deckers posted earnings of $159 per share, comfortably beating expectations of $124 per share earnings by analysts from LSEG. 

Meanwhile, shares of real estate investment trust Digital Realty Trust surged 11% before the opening bell after reporting record lease bookings for the third quarter.

Capri Holdings slump, while Tapestry rise

The stock of Capri Holdings slumped over 40% after a US judge blocked a pending merger. 

The merger was set to take place between the parent company of Michael Kors and Jimmy Choo and handbag maker Tapestry. 

Shares of Tapestry soared 15% on Friday. 

Additionally, shares of Apple fell nearly 1% before recovering all of its losses on Friday after data showed that iPhone sales in China fell in the third quarter, suffering from severe domestic competition. 

Positive economic data from the US

New orders for key US-manufactured capital goods increased more than expected in September. 

Additionally, investors will be monitoring the release of the GDP data from the US for the third quarter. 

Also, the monthly jobs report from the US will be released.

Traders will focus on the data, especially after the previous report came in hotter-than-expected.

That led to reduced bets for an oversized US Federal Reserve interest rate cut. 

Crude heads for weekly gains

Crude oil prices were on track for weekly gains after dropping by 7% last week. 

Oil prices were on the rise on increasing geopolitical tensions in the Middle East and uncertainties ahead of the US Presidential elections. 

At the time of writing, Brent crude prices were up 2.1% at $75.94 per barrel, while West Texas Intermediate oil was at $71.71 per barrel, up 2.2% from the previous close. 

The post S&P 500, Nasdaq rise sharply ending 3-day losing streak; Viking Therapeutics surge, while Capri’s shares slump appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Short SMCI: Struggling to break $48.5 resistance, bearish reversal likely
next post
Why Denny’s stock price is rising today?

Related Posts

DXY: Here’s why the US dollar index crash...

May 23, 2025

European stocks open lower: FTSE down 0.2%, CAC...

May 21, 2025

Sam Altman accused by sister of sexual abuse,...

January 8, 2025

How Trump’s tax bill could give SoFi a...

July 3, 2025

TSMC and Intel joint venture? Chip giants explore...

February 15, 2025

How Delta made itself America’s luxury airline —...

June 27, 2024

Qualcomm’s revenue diversification could drive stock higher, says...

May 1, 2025

Tesla recalls 1.8 million vehicles over unlatched hood...

July 31, 2024

Airbus sees aviation boom ahead, global fleet to...

June 12, 2025

Americans who moved abroad say this big expense...

August 8, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025
    • Argentine senate deals blow to Milei’s austerity agenda with university budget boost

      August 25, 2025
    • Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

      August 25, 2025
    • At Jackson Hole, Fed Chair Powell signals possible cuts while warning of uncertainty

      August 25, 2025
    • Trump threatens to fire Fed Governor Lisa Cook amid mortgage fraud allegations

      August 25, 2025

    Categories

    • Business (3,763)
    • Investing (2,783)
    • Latest News (2,048)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved