The Nasdaq Composite gained 50 points on Friday, with the U.S. stocks trading higher toward the end of trading.
The Dow went up 0.25% to 34,274. The NASDAQ rose 0.49% to 11,055. The S&P 500 also increased by 0.29% to 3,994. Here Are 10 Other Analyst Forecasts For Thursday.
Consumer discretionary shares increased by 0.9% on Friday. The top gainers in the sector included Newegg Commerce, Inc. NEGG, up 57%, and Atour Lifestyle Holdings Limited ATAT, up 25%.
On Friday, utilities shares fell by 0.4%.
Bank of America Corporation BAC reported better than expected earnings for its fourth quarter.
Bank of America posted quarterly earnings of $0.85 per share, topping market estimates of $0.77 per share. The bank's quarterly sales came in at $24.50 billion, compared to expectations of $24.33 billion.
Bed Bath Beyond Inc. shares fell 27% to $3.7999. As part of a possible bankruptcy process, Bed Bath Beyond is in talks with Sycamore Partners to sell assets, including its Buy Buy Baby stores.
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In commodities news, oil traded up 1.9% to $79.87, while gold traded up 1.3% to $1,922. On Friday, silver went up 1.7% to $24.415, while copper rose 0.5% to $4.2175.
European shares were higher today. The eurozone's STOXX 600 rose 0.52%, London's FTSE 100 rose 0.64%, while Spain's IBEX 35 Index gained 0.61%. The German DAX climbed by 0.19%, the French CAC 40 climbed 0.69% and Italy's MIB Index rose 0.19%.
The trade deficit in the Eurozone increased to EUR 11.7 billion in November, from EUR 3.9 billion in the year-ago period. In the month of November, industrial production in the Eurozone increased by 1%. In November, the UK's industrial production declined by 0.2% from a month ago in November, while the country posted a trade deficit of GBP 1.8 billion in November. The British economy grew by 0.1% in November from the previous month.
In 2022, the German economy increased by 1.9%, slowing from a 2.6% growth in 2021, while industrial production in Italy fell by 0.3% from a month ago in November. Spanish consumer price inflation was revised lower in December to 5.7% year-over-year, while the annual inflation rate in France was 5.9% in December.
The Asian markets closed on Friday with the Hang Seng Index gaining 1.04% and the Shanghai Composite Index gaining 1.01%, as well as the Hong Kong's Hang Seng Index gaining 1.04%. Japan's Nikkei 225 dropped 1.25%.
The Chinese trade surplus fell to $78.01 billion in December compared to $93.21 billion in the same month last year.
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The US has the highest number of deaths and coronaviruses in the world, with a total of 103,426, 740 cases with around 1,124, 390 deaths. India reported a total of 44,681, 880 cases and 530,720 deaths, while France reported over 39,435, 930 COVID 19 cases with 163,240 deaths. There were more than 6,724, 860 deaths in total, with more than 670,547, 280 cases of COVID 19 in the world.