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U.S. stocks finished higher Friday, with industrials, technology and financials leading the advance.
The S&P 500 climbed 39.28pts (+0.51%) to 7743.41.
The Nasdaq 100 gained 129.278pts (+0.42%) to 30608.134.
The Dow jumped 478.64pts (+0.93%) to 51828.62.
On the sector front, Industrials (XLI), Technology (XLK), and Financials (XLF) outperformed, while Communication Services (XLC), Energy (XLE), and Real Estate (XLRE) underperformed the most.
Looking at the latest U.S. economic data, durable goods orders were unchanged in August, beating expectations for a 0.4% decline, while core capital goods orders rose 1.6%, well above the 0.5% forecast. Separately, the final University of Michigan Consumer Sentiment Index was 48.1 in September, above the 47.6 preliminary reading but down from 51.7 in August.
U.S. Equity News:
Akamai Technologies (AKAM), a cloud infrastructure and cybersecurity company, gained 3.20% after announcing an expanded seven-year agreement with Anthropic representing $11.6 billion in contractual commitments to support the AI company’s growing CPU workloads.
Bloom Energy (BE), a fuel-cell power systems company, rose 8.27% after Morgan Stanley said Oracle’s force majeure notice for its Project Jupiter data center is unlikely to affect Bloom’s contract. Oracle and Bloom reiterated their commitment to the project, with Bloom expected to supply about 2.4 GW of fuel-cell capacity.
Dell Technologies (DELL), a maker of PCs and AI infrastructure systems, jumped 5.54% after unveiling a $999 XPS laptop built around Google’s Gemini AI and Android integration.
Microchip Technology (MCHP), a semiconductor manufacturer, rose 5.36% after unveiling new 65V digital power monitors designed for 48V applications, including AI data centers, networking and industrial systems.
Darden Restaurants (DRI), the restaurant operator behind Olive Garden and LongHorn Steakhouse, fell 3.61%, extending its post-earnings decline after fiscal first-quarter revenue came in slightly below expectations. Citigroup also trimmed its price target to $247 from $248.
Volatility & Commodities Snapshot:
The VIX index dropped 0.8pt (-5.11%) to 14.87.
The U.S. 10-year Treasury yield fell 3.1 basis points to 5.167%.
In the commodities market, gold gained $10.61 (+0.25%) to $4288.59, while silver rose $0.39 (+0.6%) to $64.29. WTI crude oil fell $1.90 (-2.01%) to $92.71.
Europe Market Overview:
At the European close, the major indices in the region finished mixed.
Germany’s DAX gained 142pts (+0.56%) to 25408.
France’s CAC 40 slipped 3pts (-0.04%) to 8077.
The U.K.’s FTSE 100 rose 15pts (+0.14%) to 10695.
On the economic data front, Germany’s GfK Consumer Confidence Index fell to -30.6 for October, below the -27.4 forecast and down from -26.8 previously.
Foreign Exchange & Crypto Wrap:
The dollar index declined 0.27pt (-0.27%) to 101.016.
EUR/USD rose 15pips (+0.13%) to 1.1394.
GBP/USD advanced 30pips (+0.23%) to 1.3245.
USD/JPY fell 157pips (-0.99%) to 157.26.
USD/CHF edged up 9pips (+0.11%) to 0.8284.
AUD/USD gained 16pips (+0.23%) to 0.7026.
USD/CAD rose 9pips (+0.06%) to 1.4143.
Finally, in the cryptocurrency market, Bitcoin fell $361 (-0.43%) to $83987, while Ethereum rose $4 (+0.16%) to $2691.
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