Stocks Up…Again: J&J Soars on Split, Rivian Keeps Moving Up

Investors are looking to bid up markets again Friday. U.S. stock futures inched higher in premarket trading.

Investors seem to be making the bet that the Federal Reserve won’t overdue its tightening…and thus, it’s still “game-on” for equities.

This, despite, inflation in the October CPI swelling to 6.2%, the highest level since 1990.

Level Chg. Chg. %
DOW Futures 35,930.00 87 0.24%
S&P 500 Futures 4,652.50 8.5 0.18%
Nasdaq Futures 16,062.25 37.5 0.23%

U.S. Dollar and Treasuries

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The yield on the 10-year Treasury rose slightly, as investors were concerned with rampant inflation. The dollar was stable against other major currencies.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 95.16 -0.02 -0.02%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.168% 0.008 0.160%
U.S. 5 Year Treasury Note 1.249% 0.026 1.223%
U.S. 10 Year Treasury Note 1.572% 0.019 1.554%

 

Stocks To Watch

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Shares of Johnson & Johnson surged on news of a potential split into two companies. One of the future companies would take on consumer products, and the other J&J’s pharmaceutical business, including vaccines.

Shares of PaySafe stabilized after dropping 41% on a huge earnings miss on Thursday. The payment platform reported a net loss of $147.2 million.

AstraZeneca missed on earnings, but beat on revenue. The company reported earnings of $0.54 per share, 0.08 cents worse than expected. It reported a revenue of $9.86 billion vs 9.53 billion expected.

The newly public electric carmaker Rivian Automotive continued its massive rally on Friday following its 29% surge on Wednesday, and 22% jump on Thursday. It now has an extraordinary market cap of about $105 million.

Symbol Company Name Price Chg. %
PSFE Paysafe Ltd. $4.34 2.36%
JNJ Johnson & Johnson $168.40 3.27%
RIVN Rivian Automotive $127.40 4.16%
AZN AstraZeneca plc $146.60 3.89%

 

Commodities To Watch

Oil was down, pressured by a strong dollar coupled with inflation concerns. Gold dropped as the strong dollar offset some inflation fears. 

Resource Price Chg. %
WTI Crude Oil $80.09 -1.84%
Brent Crude Oil $81.48 -1.68%
Natural Gas $4.98 -3.36%
Gold $1,855.10 -0.47%
Silver $25.10 -0.81%
Copper $4.39 -0.13%

 

Crypto

The global crypto market cap is $2.80T, a 1.25% decrease over the last 24 hours. Bitcoin’s dominance is currently 43.26%, an increase of 0.04% in the same period.

Currency Symbol Price Chg. % Market Cap.
Bitcoin BTC $63,760.92 -1.84% 1.20t
Etherium ETH $4,587.32 -2.35% 541.00b
Cardano ADA $2.02 -4.12% 63.14b
Ripple XRP $1.17 -3.80% 51.77b
Dogecoin DOGE $0.2520 -2.89% 33.28b

 

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