Dow Jumps 400 Points; Adobe Shares Plummet After Q3 Results

Author: Avi Kapoor | September 13, 2024 12:15pm

U.S. stocks traded higher midway through trading, with the Dow Jones jumping over 400 points on Friday.

The Dow traded up 1.01% to 41,512.59 while the NASDAQ rose 0.68% to 17,689.80. The S&P 500 also rose, gaining, 0.67% to 5,633.42.

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Leading and Lagging Sectors

Materials shares jumped by 1.4% on Friday.

In trading on Friday, information technology shares rose by just 0.4%.

Top Headline

Shares of Adobe, Inc. (NASDAQ:ADBE) fell around 9% on Friday after the company reported earnings for its third quarter.

The company said it sees fourth-quarter revenue in a range of $5.5 billion to $5.55 billion and earnings of between $4.63 and $4.68 per share.

Equities Trading UP

Tenon Medical, Inc. (NASDAQ:TNON) shares shot up 123% to $9.85. The company announced the pricing of a $4.5 million public offering of 1.22 million shares and warrants.
Shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) got a boost, surging 73% to $9.67 after the company announced it received a non-binding acquisition proposal from Deerfield.
Agape ATP Corporation (NASDAQ:ATPC) shares were also up, gaining 45% to $2.10 after the company announced it entered into a strategic collaboration with Xiamen Photons Solar Technology that focusing on developing solar photovoltaic mounting systems in ASEAN countries.

Equities Trading DOWN

Universe Pharmaceuticals INC (NASDAQ:UPC) shares dropped 75% to $0.4151.
Shares of Garden Stage Limited (NASDAQ:GSIW) were down 63% to $4.44.
Healthcare Triangle, Inc. (NASDAQ:HCTI) was down, falling 37% to $0.3202.

Commodities

In commodity news, oil traded up 0.5% to $69.31 while gold traded up 1.1% at $2,609.90.

Silver traded up 3.7% to $31.215 on Friday, while copper rose 1.2% to $4.2440.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.76%, Germany's DAX gained 0.98% and France's CAC 40 rose 0.41%. Spain's IBEX 35 Index rose 1.23%, while London's FTSE 100 rose 0.39%.

Asia Pacific Markets

Asian markets closed mostly mixed on Friday, with Japan's Nikkei 225 falling 0.68%, Hong Kong's Hang Seng Index gaining 0.75%, China's Shanghai Composite Index falling 0.48% and India's BSE Sensex falling 0.09%.

Economics

The University of Michigan consumer sentiment rose for a second straight month to a reading of 69 in September.
Export prices declined by 0.7% month-over-month in August, while import prices fell by 0.3% month-over-month in August.

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