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Markets Edge Higher as PCE Data Meets Expectations; Dramatic Movers Across Sectors

MarketDash Editorial Team
2 days ago
U.S. stocks traded modestly higher Friday as inflation data came in as expected, but the real action was in individual names. DigitalBridge surged on acquisition talks while Domo and Sportsman's Warehouse tumbled on disappointing results.

U.S. stocks traded higher midway through Friday's session, with the Nasdaq Composite gaining around 0.2% as investors digested key inflation data that came in right on target.

The Dow edged up 0.17% to 47,933.71 while the Nasdaq rose 0.16% to 23,543.03. The S&P 500 also climbed, adding 0.15% to reach 6,867.40.

Sector Movements Tell the Story

Communication services shares led the way higher, jumping 0.9% on Friday. On the flip side, utilities stocks were the session's laggards, falling 0.6% as investors rotated away from defensive plays.

Inflation Data Stays the Course

The headline of the day came from the PCE price index, which increased 0.3% month-over-month in September. That matched both the previous month's reading and market estimates, suggesting inflation continues its steady path without surprises in either direction.

The Day's Big Winners

Praxis Precision Medicines Inc. (PRAX) shares shot up 31% to $248.00 after the company announced the completion of its pre-NDA meeting with the FDA and gained alignment from the agency. The company announced results from the registrational cohort of the EMBOLD study evaluating relutrigine for the treatment of patients with SCN2A and SCN8A developmental and epileptic encephalopathies.

Shares of DigitalBridge Group Inc. (DBRG) got a serious boost, surging 32% to $12.86 after Bloomberg reported SoftBank is in talks to buy the company. That's the kind of acquisition premium that makes shareholders very happy.

Rubrik Inc. (RBRK) shares also climbed, gaining 23% to $86.80 after the company reported better-than-expected third-quarter financial results and raised its FY26 guidance above estimates.

The Day's Biggest Losers

Parsons Corp. (PSN) shares dropped 25% to $62.97 after the company lost its joint bid with IBM to build a new air traffic control system to Peraton. Losing a major contract hurts, especially one that size.

Shares of Sportsman's Warehouse Holdings Inc. (SPWH) were hammered, down 30% to $1.70 after the company reported third-quarter results that clearly disappointed investors.

Domo Inc. (DOMO) fell 23% to $8.87 after the company reported third-quarter financial results and issued fourth-quarter sales guidance with its midpoint below estimates. When you miss on guidance, the market doesn't give you much benefit of the doubt.

Commodities Show Strength

In commodity markets, oil traded up 0.7% to $60.08 while gold edged up 0.1% to $4,245.70.

Silver had an especially strong day, trading up 2.7% to $59.035 on Friday, while copper rose 1.2% to $5.4385.

Global Markets Mixed

European shares were mostly lower for the session. The eurozone's STOXX 600 fell 0.01%, while Spain's IBEX 35 Index fell 0.35%. London's FTSE 100 fell 0.45%, Germany's DAX 40 gained 0.61%, and France's CAC 40 fell 0.09% during the session.

Asian markets closed mostly higher on Friday, with Japan's Nikkei falling 1.05%, Hong Kong's Hang Seng rising 0.58%, China's Shanghai Composite rising 0.70%, and India's BSE Sensex gaining 0.52%.

Economic Indicators

Beyond the PCE data, several other economic reports painted a picture of the U.S. economy. Personal income increased 0.4% month-over-month to $26.397 trillion in September, while personal spending increased 0.3% month-over-month during the same period.

The University of Michigan Consumer Sentiment Index surged to 53.3 in December from 51 in the previous month, suggesting consumers are feeling slightly more optimistic heading into year-end.

Back to News

Markets Edge Higher as PCE Data Meets Expectations; Dramatic Movers Across Sectors

MarketDash Editorial Team
2 days ago
U.S. stocks traded modestly higher Friday as inflation data came in as expected, but the real action was in individual names. DigitalBridge surged on acquisition talks while Domo and Sportsman's Warehouse tumbled on disappointing results.

U.S. stocks traded higher midway through Friday's session, with the Nasdaq Composite gaining around 0.2% as investors digested key inflation data that came in right on target.

The Dow edged up 0.17% to 47,933.71 while the Nasdaq rose 0.16% to 23,543.03. The S&P 500 also climbed, adding 0.15% to reach 6,867.40.

Sector Movements Tell the Story

Communication services shares led the way higher, jumping 0.9% on Friday. On the flip side, utilities stocks were the session's laggards, falling 0.6% as investors rotated away from defensive plays.

Inflation Data Stays the Course

The headline of the day came from the PCE price index, which increased 0.3% month-over-month in September. That matched both the previous month's reading and market estimates, suggesting inflation continues its steady path without surprises in either direction.

The Day's Big Winners

Praxis Precision Medicines Inc. (PRAX) shares shot up 31% to $248.00 after the company announced the completion of its pre-NDA meeting with the FDA and gained alignment from the agency. The company announced results from the registrational cohort of the EMBOLD study evaluating relutrigine for the treatment of patients with SCN2A and SCN8A developmental and epileptic encephalopathies.

Shares of DigitalBridge Group Inc. (DBRG) got a serious boost, surging 32% to $12.86 after Bloomberg reported SoftBank is in talks to buy the company. That's the kind of acquisition premium that makes shareholders very happy.

Rubrik Inc. (RBRK) shares also climbed, gaining 23% to $86.80 after the company reported better-than-expected third-quarter financial results and raised its FY26 guidance above estimates.

The Day's Biggest Losers

Parsons Corp. (PSN) shares dropped 25% to $62.97 after the company lost its joint bid with IBM to build a new air traffic control system to Peraton. Losing a major contract hurts, especially one that size.

Shares of Sportsman's Warehouse Holdings Inc. (SPWH) were hammered, down 30% to $1.70 after the company reported third-quarter results that clearly disappointed investors.

Domo Inc. (DOMO) fell 23% to $8.87 after the company reported third-quarter financial results and issued fourth-quarter sales guidance with its midpoint below estimates. When you miss on guidance, the market doesn't give you much benefit of the doubt.

Commodities Show Strength

In commodity markets, oil traded up 0.7% to $60.08 while gold edged up 0.1% to $4,245.70.

Silver had an especially strong day, trading up 2.7% to $59.035 on Friday, while copper rose 1.2% to $5.4385.

Global Markets Mixed

European shares were mostly lower for the session. The eurozone's STOXX 600 fell 0.01%, while Spain's IBEX 35 Index fell 0.35%. London's FTSE 100 fell 0.45%, Germany's DAX 40 gained 0.61%, and France's CAC 40 fell 0.09% during the session.

Asian markets closed mostly higher on Friday, with Japan's Nikkei falling 1.05%, Hong Kong's Hang Seng rising 0.58%, China's Shanghai Composite rising 0.70%, and India's BSE Sensex gaining 0.52%.

Economic Indicators

Beyond the PCE data, several other economic reports painted a picture of the U.S. economy. Personal income increased 0.4% month-over-month to $26.397 trillion in September, while personal spending increased 0.3% month-over-month during the same period.

The University of Michigan Consumer Sentiment Index surged to 53.3 in December from 51 in the previous month, suggesting consumers are feeling slightly more optimistic heading into year-end.