(Sept 10) U.S. stock indexes open solidly higher on Friday as equity markets aim to snap multiday skid.
The Dow Jones Industrial Average rose 70.21 points, or 0.20%, at the open to 34,949.59. The S&P 500 opened higher by 13.64 points, or 0.30%, at 4,506.92, while the Nasdaq Composite gained 84.66 points, or 0.56%, to 15,332.92 at the opening bell.
China concepts stocks rally.
Affirm Holdings, Inc. soared in early trading after the company easily topped revenue and volume expectations for the most recent quarter and gave an upbeat volume forecast for the full year--even without factoring in potential contributions from the Amazon arrangement.
SOS Limited soared in early trading. SOS 1H GAAP EPS of -$0.04. Revenue of $184.47M (+1761.5% Y/Y).
Wells Fargo shares rose 1.6% after regulatorsfined the bank $250 millionfor lack of progress in addressing issues in its mortgage business.
Take-Two Interactive Software fell 2.1% after the videogame producer delayed releasing versions of its ‘Grand Theft Auto’ franchise. Shares of oil-and-gas companies including EOG Resources and Devon Energy rose as oil prices rallied.
Data on Friday showed thatprices paid by producers surged last month, as supply and labor strains exerted more inflationary pressure on the economy — showing how demand remains white hot and resilient, even in the face of COVID-19. The producer price index jumped by 0.7% last month, and skyrocketed by 8.3% through August, the biggest year-on-year advance since November 2010, after surging 7.8% in July.