Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average finished higher Friday as easing bond prices sent investors back to the markets in search of bargains.
- Shares of Nvidia (NVDA - Get Report) surged after the chipmaker posted stronger-than-expected second-quarter earnings. Nvidia is Real Money's Stock of the Day.
- Deere (DE - Get Report) shares tumbled after the farm and construction equipment maker missed Wall Street's third-quarter earnings expectations and lowered its full-year sales and profit forecast.
Wall Street Overview
Stocks finished higher Friday for the second straight day but posted a third straight weekly decline as easing bond prices relieved concerns about a recession and had investors looking for bargains to close out a wild week.
The Dow Jones Industrial Average rose 306 points, or 1.20%, to end at 25,886, the S&P 500 advanced 1.44%, while the Nasdaq rose 1.67%. The Dow lost 1.5% for the week and the S&P 500 was off 1%.
The 10-year Treasury yield was recently up 0.02 to 1.547%.
Bloomberg News reported that President Donald Trump reportedly held a call on Wednesday about the plunging stock market with the CEOs of three major U.S. banks. Trump spoke with JPMorgan Chase (JPM - Get Report) CEO Jamie Dimon, Bank of America's (BAC - Get Report) Brian Moynihan, and Citigroup's (C - Get Report) Michael Corbat, Bloomberg said, citing people with knowledge of the situation, and asked about the health of U.S. consumer.
The three chief executives told told Trump that while consumers were doing well, they would do better if such issues as the U.S.-China trade war resolved.
"Asian and European equities pushed higher overnight while Treasury yields rebounded after hitting multi-year and even all-time lows across the curve this week," said Gorilla Trades strategist Ken Berman. "All of the key risk-on sectors are up by more than 1%, so while (Thursday's) bounce was weak, (Friday's) broad rally could be the start of a larger-scale move."