NXTP - Dow Rises 50 Points; Fed's Preferred Inflation Gauge Cools In November | Benzinga
U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 50 points on Friday.
Following the market opening Friday, the Dow traded up 0.14% to 37,458.12 while the NASDAQ rose 0.30% to 15,008.08. The S&P 500 also rose, gaining, 0.31% to 4,761.25.
Check This Out: $312M Bet On Occidental Petroleum? Check Out These 4 Stocks Insiders Are Buying
Leading and Lagging Sectors
Energy shares jumped by 0.8% on Friday.
In trading on Friday, consumer discretionary shares fell by 0.2%.
Top Headline
Core PCE prices in the U.S. rose by 0.1% from the prior month in November. When energy and food are excluded from the overall PCE basket, core PCE inflation eased to 3.2% year-on-year, down from 3.5% a month earlier and below the expected 3.3%.
Equities Trading UP
Karuna Therapeutics, Inc. (NASDAQ: KRTX) shares shot up 47% to $317.10. Bristol Myers Squibb & Co (NYSE: BMY) agreed to acquire Karuna Therapeutics for $330.00 per share in cash, for a total equity value of $14.0 billion, or $12.7 billion net of estimated cash acquired.
Shares of Royalty Management Holding Corporation (NASDAQ: RMCO) got a boost, surging 99% to $3.95. Royalty Management Holding announced that Ferrox Holdings confirmed the commencement of production of titanium ferrite from its Tivani operating site.