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Key Takeaways
- Major U.S. equities indexes climbed at midday Friday as regional bank stocks rebounded from yesterday’s losses after a flurry of corporate earnings reports.
- American Express shares climbed after the company posted strong quarterly results.
- Novo Nordisk and Eli Lilly shares lost ground after President Trump said he would look to lower prices for popular weight-loss drugs.
Major U.S. equities indexes climbed at midday Friday as regional bank stocks rebounded from yesterday’s losses after a flurry of corporate earnings reports. The Dow, S&P 500, and Nasdaq were all higher.
Kenvue (KVUE) was the best-performing stock in the S&P 500 as investors bought the dip in the health care product’s stock following yesterday’s selloff after a lawsuit in the U.K. claimed the company’s baby powder caused cancer.
Shares of American Express (AXP) gained after the financial firm posted quarterly results that topped analysts’ estimates and lifted its outlook as customers rushed to use its refreshed high-end credit cards.
Truist Financial (TFC) also posted better-than-expected results on higher wealth management fees and interest income, sending its shares higher.
Shares of Newmont (NEM) and rival gold miners slid as the price of the precious metal, which has been setting records recently, pulled back.
U.S.-listed shares of Novo Nordisk (NVO) and shares of Eli Lilly (LLY) were down following comments from President Trump about slashing prices for popular weight-loss drugs.
The yield on the 10-year Treasury note and oil futures edged higher. The U.S. dollar gained on the euro and pound, but lost ground to the yen. Most major cryptocurrencies traded lower.
