Nasdaq Gains Over 50 Points; JPMorgan Posts Upbeat Earnings

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 50 points on Friday.

Following the market opening Friday, the Dow traded up 0.19% to 39,669.09 while the NASDAQ gained 0.36% to 16,446.23. The S&P 500 also rose, gaining, 0.22% to 5,279.73.

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Leading and Lagging Sectors

Materials shares surged by 1.5% on Friday.

In trading on Friday, real estate shares fell by 0.3%.

Top Headline

JPMorgan Chase & Co. JPM reported better-than-expected first-quarter EPS and revenues.

JPMorgan Chase reported quarterly earnings of $5.07 per share which beat the analyst consensus estimate of $4.62 per share. The company reported quarterly sales of $46.014 billion which beat the analyst consensus estimate of $44.111 billion.

Equities Trading UP
                       

• Mixed Martial Arts Group Limited MMA shares shot up 158% to $2.04 after the company secured $2 million non-dilutive financing.
• Shares of MSP Recovery, Inc. MSPRgot a boost, surging 113% to $2.7450. On Thursday, the company entered into a strategic term sheet with Hazel Partners, Virage Capital and affiliates to execute a series of restructuring initiatives.
• Portage Biotech Inc. PRTG shares were also up, gaining 59% to $8.00.

Equities Trading DOWN

• Innovative Eyewear, Inc. LUCY shares dropped 52% to $2.3639 after the company announced exercise of warrants for $1.8 million gross proceeds.
• Shares of XChange TEC.INC XHG were down 32% to $0.2476.
• Mullen Automotive, Inc. MULN was down, falling 37% to $2.28.

Commodities

In commodity news, oil traded up 0.5% to $60.38 while gold traded up 2.1% at $3,243.90.

Silver traded up 2% to $31.385 on Friday, while copper rose 2.2% to $4.43.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 climbed 0.1%, Germany’s DAX 40 fell 0.8% and France’s CAC 40 slipped 0.1%. Spain’s IBEX 35 Index gained 0.3%, while London’s FTSE 100 rose 0.8%.

Asia Pacific Markets

Asian markets closed mostly higher on Friday, with Japan’s Nikkei 225 dipping 2.96%, China’s Shanghai Composite gaining 0.45%, Hong Kong’s Gang Seng index rising 1.13% and India’s BSE Sensex jumping 1.77%.

Economics

U.S. producer prices fell 0.4% month-over-month in March compared to a 0.1% gain in the previous month.

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