S&P 500 Tops 6,000; Sezzle Shares Spike Higher

Benzinga
2024-11-09

U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining around 0.6% on Friday.

The Dow traded up 0.83% to 44,092.10 while the NASDAQ rose 0.20% to 19,308.79. The S&P 500 also rose, gaining, 0.60% to 6,009.11.

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Leading and Lagging SectorsConsumer staples shares surged by 1.8% on Friday.

In trading on Friday, materials shares fell by 1%.

Top Headline

The total number of active U.S. oil rigs came in unchanged at 479 rigs this week, Baker Hughes Inc reported.

Equities Trading UP                       

  • Sezzle Inc. (NASDAQ:SEZL) shares shot up 71% to $429.31 after the company reported a year-over-year increase in third-quarter financial results, raised its FY24 guidance, and issued FY25 adjusted EPS guidance above estimates.
  • Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) got a boost, surging 54% to $27.55 after the company reported better-than-expected third-quarter revenue results.
  • indie Semiconductor, Inc. (NASDAQ:INDI) shares were also up, gaining 49% to $5.11 after the company reported better-than-expected third-quarter financial results.

Equities Trading DOWN

  • ProPhase Labs, Inc. (NASDAQ:PRPH) shares dropped 45% to $0.78 after the company reported the pricing of public offering of common stock.
  • Shares of Evolent Health, Inc. (NYSE:EVH) were down 45% to $13.59 after the company reported worse-than-expected third-quarter financial results.
  • Nature’s Miracle Holding Inc. (NASDAQ:NMHI) was down, falling 30% to $0.1038 after the company announced a $3 million public offering.

CommoditiesIn commodity news, oil traded down 2.9% to $70.28 while gold traded down 0.5% at $2,692.30.

Silver traded down 1.5% to $31.385 on Friday, while copper fell 2.9% to $4.3040.

Euro zone

European shares closed lower today. The eurozone's STOXX 600 fell 0.65%, Germany's DAX fell 0.76% and France's CAC 40 fell 1.17%. Spain's IBEX 35 Index fell 0.16%, while London's FTSE 100 fell 0.84%.

The trade gap in France increased to €8.3 billion in September versus a revised €7.7 billion gap in the previous month, while current account deficit increased to €2.1 billion in September.

Asia Pacific Markets

Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 gaining 0.30%, Hong Kong's Hang Seng Index falling 1.07%, China's Shanghai Composite Index dipping 0.53% and India's BSE Sensex falling 0.07%.

Foreign exchange reserves held by the Reserve Bank of India declined to $682.1 billion as of Nov. 1. China reported a current account surplus of $149.6 billion during the third quarter compared to the $60.8 billion surplus in the year-ago period. Japan’s household spending declined by 1.1% year-over-year in September.

Economics

  • The University of Michigan consumer sentiment rose to 73 in November, recording the highest reading in seven months, versus a reading of 70.5 in October and also topping market estimates of 71.
  • The total number of active U.S. oil rigs came in unchanged at 479 rigs this week, Baker Hughes Inc reported.

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