Wall Street today: S&P 500, Dow Jones, Nasdaq extend gains; Tesla rises 2.6%, FedEx climbs 3.2%
US stocks opened higher on Friday after rallying to record highs in the previous session.
As of 1:01 PM Eastern Time, the S&P 500 rose 0.3%, the Dow Jones Industrial Average was up 0.3%, and the Nasdaq Composite was 0.5% higher.
As of 10:15 AM Eastern Time, the S&P 500 rose 0.2%, the Dow Jones Industrial Average was up 0.2%, and the Nasdaq Composite was 0.4% higher.
At the opening bell, the Dow Jones Industrial Average rose 68.7 points, or 0.15%, to 46,211.16. The S&P 500 rose 15.1 points, or 0.23%, to 6,647.11, while the Nasdaq Composite rose 83.6 points, or 0.37%, to 22,554.315.
On Thursday, the three indices settled at record highs as markets digested the first Federal Reserve interest rate cut of 2025 announced on Wednesday.
Among the major developments, markets were monitoring talks between US President Donald Trump and China’s leader Xi Jinping.
The talks, expected to be focused on trade and a ownership of video platform TikTok, was underway between the two leaders, said Chinese state broadcaster CCTV and the Xinhua news agency.
In the bond market, the yield on the 10-year Treasury was holding at 4.11%.
Gainers and Losers
Apple stock rose 1.3% after J.P. Morgan raised price target.
Tesla gained 2.6% after a Baird upgraded rating on the stock to “outperform” from “neutral”.
FedEx shares climbed 3.2% after reporting higher quarterly profits.
Newmont stock surged 3.2% after the gold miner sold its investment in Canada’s Orla Mining for $439 million.
Lennar shares fell 1.9% after the homebuilder reported weaker quarterly revenue.
Bullion
Gold prices rose on Friday and headed for a fifth straight weekly gain.
By 9:17 AM EDT (1317 GMT), spot gold was up 0.3% at $3,653.86 per ounce. US gold futures for December delivery gained 0.2% to $3,686.60.
Among other metals, spot silver rose 0.9% to $42.18 per ounce and platinum gained 0.6% to $1,391.73. Palladium was down 0.3% at $1,146.98.
Crude Oil
Oil prices slipped on Friday as the outlook for a large global supply surplus outweighed concerns over a potential drop in Russian flows.
Brent futures traded near $67 a barrel in London.
Last week, the International Energy Agency said that the oil surplus projected for next year is now looking even bigger as OPEC continues to restore production and the group’s rivals grow.
