US stocks traded higher this morning, with the Nasdaq Composite gaining more than 100 points on Friday.
After the market open on Friday, the Dow Jones rose 0.13% to 49,508.69, while the NASDAQ rose 0.51% to 23,649.47. The S&P 500 also rose, gaining 0.28% to 6,963.79.
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Leading and lagging sectors
Information technology stocks rose 0.9% on Friday.
In trading on Friday, utility shares fell 1.2%.
Top head
M&T Bank (NYSE:MTB) reported optimistic fourth-quarter earnings figures on Friday.
The company posted quarterly profit of $4.72 per share, which topped analysts’ consensus expectations of $4.47 per share. The company reported quarterly revenue of $2.475 billion, which topped analysts’ consensus estimate of $2.474 billion.
Stock trading UP
- Venus Concept Inc (nasda:vero) Shares rose 367% to $6.68. Madryn Asset Management reported a 91% stake in Venus Concept in an amended 13D filing on Thursday.
- Shares of Jeffs Brands Ltd (NASDAQ:JFBR) received a boost, rising 131% to $1.29 after the company announced that its subsidiary, KeepZone AI, had entered into a non-exclusive distribution agreement with STI.
- Locafy Ltd (NASDAQ:LCFY) Shares also rose, rising 74% to $5.46 after the company announced it had expanded its partnership with Experience.com.
Stock trading DOWN
- Callan JMB Inc (NASDAQ:CJMB) shares fell 29% to $2.98. Callan JMB recently signed a strategic partnership agreement with Biostax Corp d/b/a Attune Biotech to provide comprehensive federal oversight services.
- Shares of Youlife Group Inc (NASDAQ: YOU) fell 24% to $0.96.
- Erayak Power Solution Group Inc (Nname: Raya) declined, falling 24% to $3.00. Shares of electrical equipment companies traded lower due to overall market weakness.
Raw materials
In commodities news, oil rose 1.1% to $59.82, while gold fell 0.6% to $4,598.10.
Silver fell 4.6% to $88.070 on Friday, while copper fell 2.9% to $5.8170.
Eurozone
European shares were mostly lower today. The euro zone’s STOXX 600 fell 0.1%, while Spain’s IBEX 35 Index rose 0.1%. London’s FTSE 100 fell 0.1% during the session, Germany’s DAX fell 0.2% and France’s CAC 40 fell 0.6%.
Asia Pacific Markets
Asian markets closed mostly lower on Friday, with Japan’s Nikkei down 0.32%, Hong Kong’s Hang Seng index down 0.29%, China’s Shanghai Composite down 0.26% and India’s BSE Sensex gaining 0.23%.
Economy
The Federal Reserve Bank of New York’s overall business activity index rose to -16.1 in January from -20.0 the previous month.
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