Some U.S. stocks rose Friday morning as the market heads for its fifth gain in a row.
Two of the three major stock market indexes, which measure how stocks perform, increased Friday morning while the Nasdaq composite was down.
The S&P 500 was up 0.1 percent and the Dow Jones Industrial Average rose 233 points (0.5 percent). Meanwhile, the Nasdaq composite dipped 0.2 percent.
How Are Individual Stocks Performing?
Gap, the clothing company, saw its stock soar 7.2 percent after reporting quarterly earnings and revenue that surpassed analysts’ expectations.
Companies’ quarterly results can affect their stock prices, for better or for worse.
While Gap saw gains in the market thanks to its better-than-expected quarterly results, Target‘s stock dipped $35.03 from Tuesday to Wednesday after the company reported its third-quarter sales and profits that fell below analysts’ expectations.
Meanwhile, EchoStar, the parent company of the Dish satellite television provider, saw a 3 percent loss in its stock after DirecTV terminated its acquisition of Dish.
Nvidia, a manufacturer of chips used in artificial intelligence technology, saw its stock fall 2.6 percent. Meanwhile, Intuit, which makes Turbotax and other accounting software, also saw its stock decrease 4.1 percent after its quarterly earnings forecast fell short of analysts’ predictions.
The New York Stock Exchange is seen on November 21, 2024, in New York City. U.S. stocks are opening higher Friday as the market heads for its fifth gain in a row.
Michael M. Santiago/Getty Images
How Are the Global Markets Doing?
European markets were mostly higher while Asian markets were mixed.
Europe Markets
Britain’s FTSE 100 climbed 0.7 percent to 8,204.61 while Germany’s DAX rose 0.5 percent to 19,248.30. Meanwhile, the CAC 40 in Paris slightly increased 0.2 percent to 7,229.24.
Asian Markets
Japan’s Nikkei 225 climbed 0.7 percent to 38,283.85. South Korea’s Kospi also increased 0.8 percent to 2,501.24. Meanwhile, Hong Kong’s Hang Seng dropped 1.9 percent to 19,229.97, and the Shanghai Composite index dipped 3.1 percent to 3,267.19.
How Is the Crypto Market Doing?
Bitcoin settled down after surpassing $99,000 for the first time on Thursday. The cryptocurrency has more than doubled this year. It was most recently trading at around $98,000, according to CoinDesk, an information hub on cryptocurrency.
How Are Treasury Yields Doing?
Treasury yields held relatively steady in the bond market with the yield on the 10-year Treasury remaining at 4.42 percent from late Thursday.
The higher the yields on long-term U.S. Treasuries, the more confidence investors have in the future of the economy. On the other hand, high long-term yields can also signal an expectation of rising inflation.
This article includes reporting from The Associated Press.