Marketdash
Back to News

Dow Climbs 150 Points as Victoria's Secret Delivers Strong Quarter

MarketDash Editorial Team
3 days ago
U.S. markets traded solidly higher Friday morning with the Dow gaining over 150 points, led by communication services stocks. Victoria's Secret beat earnings expectations and raised guidance, while commodity markets saw broad gains with silver surging 3%.

U.S. markets kicked off Friday with solid gains across the board, as investors digested fresh economic data and corporate earnings. The Dow Jones jumped more than 150 points in morning trading, while the tech-heavy NASDAQ and broader S&P 500 followed suit.

Following the opening bell, the Dow traded up 0.37% to 48,025.65, the NASDAQ climbed 0.37% to 23,591.14, and the S&P 500 added 0.33% to reach 6,879.55.

Sector Movers

Communication services stocks led the charge Friday, jumping 1% as the sector's standout performer. On the flip side, utilities took a breather, slipping 0.2% and ending up as the session's only laggard.

Victoria's Secret Beats Expectations

Victoria's Secret & Co (VSCO) delivered a pleasant surprise to shareholders with better-than-expected third-quarter results and raised full-year guidance above analyst estimates.

The lingerie retailer reported a quarterly loss of 27 cents per share, significantly better than the consensus estimate calling for losses of 59 cents per share. Revenue came in at $1.472 billion, topping the $1.410 billion analysts had projected.

Notable Stock Movers

Several names made dramatic moves in Friday's trading session. On the upside, SMX (Security Matters) Public Limited Company (SMX) skyrocketed 106% to $290.24. Wheeler Real Estate Investment Trust, Inc. (WHLR) surged 82% to $5.92, while Treasure Global Inc. (TGL) climbed 63% to $11.00.

The day wasn't kind to everyone, though. Ambitions Enterprise Management Co. L.L.C (AHMA) tumbled 32% to $8.99. Sportsman's Warehouse Holdings Inc (SPWH) fell 29% to $1.75 following its third-quarter earnings report, and Able View Global Inc (ABLV) dropped 23% to $0.75.

Commodities Rally

The commodity complex showed broad strength Friday. Oil edged up 0.5% to $59.97, while gold gained 0.8% to $4,274.80. Silver was the star performer, surging 3% to $59.19, with copper also posting a solid 1.4% gain to $5.4480.

Global Markets

European markets mostly followed the positive tone, with the eurozone's STOXX 600 rising 0.3%. Germany's DAX 40 led regional gains with a 0.9% advance, while Spain's IBEX 35 and France's CAC 40 each added 0.1%. London's FTSE 100 bucked the trend, dipping 0.1%.

Asian markets closed mixed overnight. Japan's Nikkei fell 1.05%, while Hong Kong's Hang Seng climbed 0.58%, China's Shanghai Composite gained 0.70%, and India's BSE Sensex rose 0.52%.

Economic Data

On the economic front, U.S. personal income increased 0.4% month-over-month to $26.397 trillion in September. The PCE price index, the Federal Reserve's preferred inflation gauge, rose 0.3% for the month, matching the previous month's increase and aligning with economist expectations.

Back to News

Dow Climbs 150 Points as Victoria's Secret Delivers Strong Quarter

MarketDash Editorial Team
3 days ago
U.S. markets traded solidly higher Friday morning with the Dow gaining over 150 points, led by communication services stocks. Victoria's Secret beat earnings expectations and raised guidance, while commodity markets saw broad gains with silver surging 3%.

U.S. markets kicked off Friday with solid gains across the board, as investors digested fresh economic data and corporate earnings. The Dow Jones jumped more than 150 points in morning trading, while the tech-heavy NASDAQ and broader S&P 500 followed suit.

Following the opening bell, the Dow traded up 0.37% to 48,025.65, the NASDAQ climbed 0.37% to 23,591.14, and the S&P 500 added 0.33% to reach 6,879.55.

Sector Movers

Communication services stocks led the charge Friday, jumping 1% as the sector's standout performer. On the flip side, utilities took a breather, slipping 0.2% and ending up as the session's only laggard.

Victoria's Secret Beats Expectations

Victoria's Secret & Co (VSCO) delivered a pleasant surprise to shareholders with better-than-expected third-quarter results and raised full-year guidance above analyst estimates.

The lingerie retailer reported a quarterly loss of 27 cents per share, significantly better than the consensus estimate calling for losses of 59 cents per share. Revenue came in at $1.472 billion, topping the $1.410 billion analysts had projected.

Notable Stock Movers

Several names made dramatic moves in Friday's trading session. On the upside, SMX (Security Matters) Public Limited Company (SMX) skyrocketed 106% to $290.24. Wheeler Real Estate Investment Trust, Inc. (WHLR) surged 82% to $5.92, while Treasure Global Inc. (TGL) climbed 63% to $11.00.

The day wasn't kind to everyone, though. Ambitions Enterprise Management Co. L.L.C (AHMA) tumbled 32% to $8.99. Sportsman's Warehouse Holdings Inc (SPWH) fell 29% to $1.75 following its third-quarter earnings report, and Able View Global Inc (ABLV) dropped 23% to $0.75.

Commodities Rally

The commodity complex showed broad strength Friday. Oil edged up 0.5% to $59.97, while gold gained 0.8% to $4,274.80. Silver was the star performer, surging 3% to $59.19, with copper also posting a solid 1.4% gain to $5.4480.

Global Markets

European markets mostly followed the positive tone, with the eurozone's STOXX 600 rising 0.3%. Germany's DAX 40 led regional gains with a 0.9% advance, while Spain's IBEX 35 and France's CAC 40 each added 0.1%. London's FTSE 100 bucked the trend, dipping 0.1%.

Asian markets closed mixed overnight. Japan's Nikkei fell 1.05%, while Hong Kong's Hang Seng climbed 0.58%, China's Shanghai Composite gained 0.70%, and India's BSE Sensex rose 0.52%.

Economic Data

On the economic front, U.S. personal income increased 0.4% month-over-month to $26.397 trillion in September. The PCE price index, the Federal Reserve's preferred inflation gauge, rose 0.3% for the month, matching the previous month's increase and aligning with economist expectations.