Wall Street Set to Open Higher as Earnings Season Accelerates, Ahead of Consumer Sentiment Survey

US stocks look set to open Friday’s trading higher as earnings season picks up, and ahead of the University of Michigan’s consumer sentiment survey, which will be released later in the morning.

Primary Image © MT Newswires Primary Image

After climbing nearly seven points in August but only 0.4 of a point in September, consumer sentiment is expected to edge 0.2 of a point higher in October to 58.8.

Loading...

Load Error

And data from the Census Bureau showed the dollar value of retail and food services was unchanged in September from August, below the consensus of an increase of 0.2% in an Econoday survey.

Dow Jones Industrial Average futures were up 0.8%, S&P 500 futures rose 0.9%, and Nasdaq futures were up 1.0%.

Oil prices were lower with front-month North Sea Brent crude and US West Texas Intermediate crude falling 1.3% and 1.5%, respectively.

In other world markets, Japan’s Nikkei soared 3.3%, Hong Kong’s Hang Seng ended trading up 1.2%, and China’s Shanghai Composite rose 1.8%. Meanwhile in Europe’s early afternoon session, the UK’s FTSE 100 was up 1.7%, while Germany’s DAX index and France’s CAC 40 rose 2.0% and 2.6%, respectively.

On the winning side, shares of Connexa Sports Technologies Inc. (CNXA) soared 58% in Friday’s premarket trading after falling 7% the previous session. IMARA Inc. (IMRA) shares surged 41% after it said late Thursday that it agreed to an all-stock merger deal with Enliven Therapeutics. Shares of Siyata Mobile Inc. (SYTAW) climbed 40% after it priced a $4 million registered direct offering on Thursday. Laser Photonics (LASE) shares rose 22%, after saying on Friday it is launching an “aggressive” hiring campaign. And Zovio (ZVO) shares aslo advanced 24%, adding to gains from the previous session.

On the losing side, shares of Novo Integrated Sciences Inc. (NVOS) shares plunged 49% after it said Thursday it has priced its public offering of 4 million units at $0.50 each. Shares of China Jo-Jo Drugstores, Inc. (CJJD) tumbled 18%, adding to the previous session’s loss. Nuwellis Inc. (NUWE) fell 31%, continuing its slide from Thursday. And ARCA biopharma (ABIO) shares sank 12%, after rising about 2% in the previous session.

Continue Reading

Leave a Reply

Your email address will not be published. Required fields are marked *