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Key Takeaways
- Major U.S. indexes were on the rise at midday Friday after a report showed employers added more jobs than economists expected in September.
- Shares of United Airlines and other air carriers gained following a report that discount carrier Spirit Airlines is in discussions that could lead to a bankruptcy filing.
- Rivian shares tumbled as the electric vehicle maker missed third-quarter delivery forecasts.
Major U.S. indexes were on the rise at midday Friday after a report showed employers added more jobs than economists expected in September. The S&P 500, Nasdaq, and Dow were all higher.
Shares of United Airlines (UAL) and other rival airlines advanced following a report discount carrier Spirit Airlines (SAVE) is considering a bankruptcy filing. Spirit shares cratered.
Shares of Abercrombie & Fitch (ANF) gained as JPMorgan added the apparel retailer to its “Positive Catalyst Watch” list and raised the price target, pointing to strength in the company’s Hollister brand.
Albemarle (ALB) shares rose following a report Rio Tinto (RIO) may be looking to make an acquisition in the lithium sector.
Shares of D.R. Horton (DHI), Lennar (LEN), and others in the home building sector tumbled as the yield on the 10-year Treasury note climbed following Friday’s strong jobs report, raising concerns about mortgage rates.
Shares of Rivian (RIVN) tumbled as the electric vehicle (EV) maker missed third-quarter delivery forecasts and cut its full-year production forecast because of a parts shortage.
Oil futures and gold prices climbed. The U.S. dollar rose versus the euro, pound, and yen. Most major cryptocurrencies traded higher.
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