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Dow Surges 150 Points; JPMorgan Posts Upbeat Earnings - JPMorgan Chase (NYSE:JPM)

U.S. stocks traded mixed this morning, with the Dow Jones index gaining around 150 points on Friday.

Following the market opening Friday, the Dow traded up 0.37% to 42,610.09 while the NASDAQ fell 0.19% to 18,247.84. The S&P 500 also rose, gaining, 0.14% to 5,789.34.

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JPMorgan Chase & Co. JPM reported better-than-expected third-quarter FY24 earnings.

Reported revenue rose 7% year-on-year to $42.654 billion, beating the consensus of $41.649 billion. Net revenue (managed) stood at $43.3 billion (+6% Y/Y) in the quarter. Net income fell 2% Y/Y to $12.90 billion in the quarter. EPS of $4.37, exceeding the consensus of $4.00.

Equities Trading UP

Equities Trading DOWN

were down 19% to $10.79. Perspective Therapeutics announced plans to advance development of radiopharmaceutical therapy [212Pb]VMT01 after data at Society for Melanoma Research Congress. noco-noco Inc NCNC was down, falling 16.1% to $0.098.

Commodities

In commodity news, oil traded down 0.9% to $75.16 while gold traded up 1.1% at $2,667.10.

Silver traded up 1.2% to $31.620 on Friday, while copper rose 0.8% to $4.4635.

Euro zone

The UK’s trade deficit shrank to £0.96 billion in August compared to a revised £4.71 billion gap in July, while the British economy grew by 0.2% month-over-month in August. Industrial production in the UK climbed 0.5% month-over-month in August. The annual inflation rate in Germany fell to 1.6% in September from 1.9% in August

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 0.57%, China's Shanghai Composite Index dipping 2.55% and India's BSE Sensex falling 0.28%.

Industrial production in India fell 0.1% year-over-year in August compared to a revised 4.7% gain in July.

Economics

Core producer prices in the U.S. increased by 0.2% from the previous month for September compared to a 0.3% rise in August.

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