Benzinga
Published Apr 26, 2024 19:50
Updated Apr 26, 2024 21:10
Dow Surges Over 200 Points; Microsoft Shares Gain Following Upbeat Earnings
Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 200 points on Friday.
The Dow traded up 0.57% to 38,303.11 while the NASDAQ rose 2.01% to 15,925.77. The S&P 500 also rose, gaining, 1.14% to 5,106.22.
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Leading and Lagging Sectors
Communication services shares rose by 4.3% on Friday.
In trading on Friday, energy shares dipped by 0.8%.
Top Headline
Microsoft Corp (NASDAQ:MSFT) shares rose more than 2% on Friday after the company posted better-than-expected earnings and sales results for its third quarter.
The company’s revenue increased 17% year-over-year to $61.9 billion, which beat the consensus estimate of $60.804 billion, according to Benzinga Pro. The tech giant reported quarterly earnings of $2.94 per share, which beat analyst estimates of $2.82 per share.
Equities Trading UP
Commodities
In commodity news, oil traded up 0.2% to $83.71 while gold traded up 0.4% at $2,352.70.
Silver traded up 0.1% to $27.37 on Friday, while copper rose 0.8% to $4.5740.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 1.11%, London's FTSE 100 rose 0.75% while Spain's IBEX 35 Index rose 1.56% The German DAX rose 1.36% French CAC 40 rose 0.89% while Italy's FTSE MIB Index climbed 0.91%.
Bank lending to households in the Eurozone rose by 0.2% year-over-year to €6.875 trillion in March. Spain’s retail trade increased by 0.6% year-over-year in March versus a revised 1.8% gain in the earlier month, while unemployment rate increased to 12.29% in the first quarter.
The consumer confidence indicator in France declined to 90 in April versus a reading of 91 in the prior month.
Asia Pacific Markets
Asian markets closed mostly higher on Friday, with Japan's Nikkei 225 gaining 0.81%, Hong Kong's Hang Seng Index jumping 2.12%, China's Shanghai Composite climbing 1.17% and India's S&P BSE Sensex falling 0.82%.
The Bank of Japan maintained its key short-term interest rate unchanged at its April meeting. Singapore’s manufacturing production declined 9.2% year-over-year in March versus a revised 4.4% increase in the prior month.
Economics
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