Midway through trading Friday, the Dow traded up 0.40 percent to 18,171.97 while the NASDAQ climbed 0.16 percent to 5,221.71. The
S&P also rose, gaining 0.17 percent to 2,136.18.
Leading and Lagging Sectors
On Friday, telecommunications services shares gained by 0.63 percent. Meanwhile, top gainers in the sector included China
Unicom (Hong Kong) Limited (ADR) (NYSE: CHU), and China
Telecom Corporation Limited (ADR) (NYSE: CHA).
In trading on Friday, healthcare shares fell by 0.37 percent. Meanwhile, top losers in the sector included Omeros
Corporation (NASDAQ: OMER), down 6 percent, and
Immunomedics, Inc. (NASDAQ: IMMU), down 5
percent.
Top Headline
Citigroup Inc (NYSE: C) delivered another EPS beat,
making it seven quarters in a row of an EPS beat. Its revenue for the third quarter also came in above the expectations.
Citigroup revealed net income of $3.8 billion, or $1.24 a share, down from $4.3 billion, or $1.35 a share, in the year-ago
quarter. Street analysts' estimate was $1.16 a share.
The bank's revenue also fell from $18.7 billion to $17.8 billion. However, this was more than the analysts' expectations of
$17.34 billion.
Equities Trading UP
First Bancshares Inc (NASDAQ: FBMS) shares shot up
23 percent to $22.00. First Bancshares reported Q3 net income of $2.6 million on revenue of $13.2 million.
Shares of Enzo Biochem, Inc. (NYSE: ENZ) got a boost,
shooting up 10 percent to $5.58. Enzo Biochem reported Q4 non-GAAP earnings of $0.04 per share on revenue of $26.6 million.
Advanced Micro Devices, Inc. (NASDAQ: AMD) shares
were also up, gaining 6 percent to $6.86 following the announcement that the company has reached a deal with Alibaba Group
Holding Ltd (NYSE: BABA) to use AMD chips in its cloud
service.
Equities Trading DOWN
Biocept Inc (NASDAQ: BIOC) shares dropped 21
percent to $0.912. Biocept reported the pricing of $10 million offering of common stocks and warrants.
Shares of Ocean Power Technologies Inc (NASDAQ: OPTT) were down 26 percent to $2.99. Ocean Power priced 2.4 million shares at $2.75
per share.
Taylor Devices, Inc. (NASDAQ: TAYD) was down,
falling around 24 percent to $15.00. Taylor Devices reported Q1 earnings of $0.06 per share on revenue of $5.76 million.
Commodities
In commodity news, oil traded down 0.71 percent to $50.49 while gold traded down 0.25 percent to $1,254.40.
Silver traded down 0.22 percent Friday to $17.42, while copper fell 0.71 percent to $2.11.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 gained 1.29 percent, the Spanish Ibex Index rose 1.85 percent, while
Italy’s FTSE MIB Index surged 1.98 percent. Meanwhile the German DAX climbed 1.60 percent, and the French CAC 40 gained 1.49
percent while U.K. shares rose 0.51 percent.
Economics
The Producer Price Index rose 0.3 percent for September, versus economists’ estimates for a 0.2 percent growth
U.S. retail sales increased 0.6 percent in September, versus expectations for a 0.7 percent gain.
U.S. business inventories rose 0.20 percent for September, versus economists’ expectations for a 0.20 percent growth.
The University of Michigan's consumer sentiment index declined to 87.90 for October, versus a prior reading of 91.20. Economists
expected a reading of 91.90.
Federal Reserve Chairman Janet Yellen will speak at the Boston Fed's 60th Economic Conference, "The Elusive Recovery" at 12:30
p.m. ET.
The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
The U.S. Treasury budget data for September will be released at 2:00 p.m. ET.
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