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U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 50 points on Friday.
Following the market opening Friday, the Dow traded up 0.14% to 37,458.12 while the NASDAQ rose 0.30% to 15,008.08. The S&P 500 also rose, gaining, 0.31% to 4,761.25.
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Energy shares jumped by 0.8% on Friday.
In trading on Friday, consumer discretionary shares fell by 0.2%.
Core PCE prices in the U.S. rose by 0.1% from the prior month in November. When energy and food are excluded from the overall PCE basket, core PCE inflation eased to 3.2% year-on-year, down from 3.5% a month earlier and below the expected 3.3%.
Karuna Therapeutics, Inc. (NASDAQ:KRTX) shares shot up 47% to $317.10. Bristol Myers Squibb & Co (NYSE:BMY) agreed to acquire Karuna Therapeutics for $330.00 per share in cash, for a total equity value of $14.0 billion, or $12.7 billion net of estimated cash acquired.
Shares of Royalty Management Holding Corporation (NASDAQ:RMCO) got a boost, surging 99% to $3.95. Royalty Management Holding announced that Ferrox Holdings confirmed the commencement of production of titanium ferrite from its Tivani operating site.
NextPlay Technologies, Inc. (NASDAQ:NXTP) shares were also up, gaining 102% to $1.8297.
AlloVir, Inc. (NASDAQ:ALVR) shares dropped 67% to $0.7699 after the company provided an update on its three Phase 3 clinical trials with posoleucel, an investigational off-the-shelf multi-virus-specific T cell therapy, which targets six viral pathogens in immunocompromised individuals: adenovirus (AdV), BK virus (BKV), cytomegalovirus (CMV), Epstein-Barr virus (EBV), human herpesvirus-6 (HHV-6) and JC virus (JCV).
Shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) were down 27% to $2.63 after the company announced a registered direct and private placement offering priced at-the-market under Nasdaq rules.
Netcapital Inc. (NASDAQ:NCPL) was down, falling 40% to $0.1971 after the company announced pricing of a $4 million public offering.
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In commodity news, oil traded up 0.9% to $74.52 while gold traded up 1.4% at $2,080.20.
Silver traded up 0.8% to $24.77 on Friday while copper rose 0.3% to $3.9295.
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.1%, London’s FTSE 100 rose 0.1% while Spain’s IBEX 35 Index rose 0.3% The German DAX rose 0.2% French CAC 40 rose 0.1%, while Italy’s FTSE MIB Index gained 0.2%.
The consumer confidence index in Italy climbed to 106.7 in December from 103.6 a month ago, while manufacturing confidence index fell to 95.4 in December from 96.6 in November. Spanish economy grew by 0.3% quarter-over-quarter during the third quarter.
Producer prices in the French domestic market rose by 2.4% month-over-month in November compared to a revised 0.1% decline a month ago, while consumer confidence increased to 89 in December versus a revised 88 in the prior month.
The British economy grew by 0.3% year-over-year in the third quarter, while current account deficit shrank to £17.2 billion in the third quarter of versus a revised £24.0 billion gap in the prior period. Retail sales in the U.K. rose by 1.3% from a month ago in November.
Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 0.09%, Hong Kong’s Hang Seng Index falling 1.69% and China’s Shanghai Composite Index falling 0.13%. India’s S&P BSE Sensex, meanwhile, rose 0.34%.
The annual inflation rate in Japan fell to 2.8% in November from 3.3% in the earlier month, while food prices in Japan increased by 7.3% from a year ago in November.
New orders for manufactured durable goods rose by 5.4% month-over-month in November.
Building permits in the U.S. declined by 2.1% to an annual rate of 1.467 million in November versus the preliminary estimate of 1.460 million.
Personal income in the U.S. rose by 0.4% month-over-month in November, while personal spending increased by 0.2% from a month ago in November.
Core PCE prices in the U.S. rose by 0.1% from the prior month in November. However, core prices rose by 3.2% from the prior year, compared to market estimates of 3.3%.
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