Important points
Major U.S. indexes were rising as of midday Friday after reports showed employers added more jobs in September than economists expected. Shares of United Airlines and other airlines rose after reports that low-cost carrier Spirit Airlines was in talks that could lead to bankruptcy. Rivian’s stock price rises after electric vehicle maker makes third-quarter deliveries. The price fell as it fell short of expectations.
Major U.S. indexes were rising as of midday Friday after employers reported they added more jobs in September than economists expected. The S&P 500, NASDAQ, and Dow all rose.
Shares of United Airlines (UAL) and other rival airlines rose after reports that low-cost carrier Spirit Airlines (SAVE) is considering filing for bankruptcy. Spirit stock is cratered.
Abercrombie & Fitch (ANF) shares rose after JPMorgan added the apparel retailer to its “Positive Catalyst Watch” list and raised its price target, demonstrating the strength of the company’s Hollister brand.
Albemarle (ALB) shares rose after reports that Rio Tinto (RIO) may be considering an acquisition in the lithium sector.
Stocks in the homebuilding sector, including DR Horton (DHI) and Lennar (LEN), fell as the 10-year Treasury yield rose after Friday’s strong jobs report, raising concerns about mortgage rates.
Rivian (RIVN) stock fell after the electric vehicle (EV) maker missed third-quarter delivery estimates and cut its full-year production forecast due to parts shortages.
Oil futures and gold prices rose. The US dollar strengthened against the euro, pound and yen. Most major cryptocurrencies traded higher.
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