Dow Jumps Over 300 Points; US Industrial Production Beats Estimates

Author: Avi Kapoor | January 17, 2025 11:13am

U.S. stocks traded higher this morning, with the Dow Jones index gaining over 300 points on Friday.

Following the market opening Friday, the Dow traded up 0.76% to 43,482.39 while the NASDAQ rose 1.36% to 19,601.89. The S&P 500 also rose, gaining, 0.88% to 5,989.58.

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Leading and Lagging Sectors

Consumer discretionary shares surged by 1.4% on Friday.

In trading on Friday, utilities shares fell by 0.1%.

Top Headline

U.S. industrial production rose by 0.9% in December, topping market estimates of a 0.3% increase.

Equities Trading UP

Nukkleus Inc. (NASDAQ:NUKK) shares shot up 80% to $36.99 after the company announced it resolved its Nasdaq delisting notice and is now achieving compliance with the listing standards.
Shares of Versus Systems Inc. (NASDAQ:VS)got a boost, surging 45% to $2.8792 after the company announced expansion into the Brazilian market as part of its strategy to grow its international footprint.
Treasure Global Inc. (NASDAQ:TGL) shares were also up, gaining 43% to $0.3058.

Equities Trading DOWN

Scorpius Holdings, Inc. (NYSE:SCPX) shares dropped 26% to $0.2783 after the company announced its board approved a 1-for-20 reverse stock split.
Shares of BioLineRx Ltd. (NASDAQ:BLRX) were down 25% to $0.0915 after the company announced a dilutive change in the ratio of American depositary shares to ordinary shares. The proposed exchange ratio is equivalent to a 1-for-40 basis reverse stock split.
AEON Biopharma, Inc. (NYSE:AEON) was down, falling 17% to $0.1419.

Commodities

In commodity news, oil traded down 0.1% to $78.59 while gold traded down 0.2% at $2,745.00.

Silver traded down 1.7% to $31.185 on Friday, while copper fell 1.3% to $4.3825.

Euro zone

European shares were higher today. The eurozone's STOXX 600 surged 0.8%, Germany's DAX 40 gained 1.2% and France's CAC 40 gained 1.2%. Spain's IBEX 35 Index rose 0.7%, while London's FTSE 100 gained 1.5%.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 falling 0.31%, China's Shanghai Composite Index gaining 0.18%, Hong Kong's Hang Seng Index climbing 0.31% and India's BSE Sensex falling 0.55%.

Economics

U.S. industrial production rose by 0.9% in December, topping market estimates of a 0.3% increase.
Housing starts rose by 15.8% from the previous month to an annualized rate of 1.499 million units in December.
Building permits declined by 0.7% to an annualized rate of 1.483 million in December.

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