President Trump and Joe Biden disagree over how much the stock market impacts Americans.
Stocks rose in early trading, helped by healthcare and industrial names, following the final presidential debate before the U.S. election.
Continue Reading Below
President Trump and former Vice President Joe Biden sparred on everything, ranging from the minimum wage, the oil and gas industry, the coronavirus pandemic and how to aid the U.S. economy struggling amid the global health crisis.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 28406.34 | +42.68 | +0.15% |
| SP500 | S&P 500 | 3460.69 | +7.20 | +0.21% |
| I:COMP | NASDAQ COMPOSITE INDEX | 11487.901016 | -18.10 | -0.16% |
The Dow Jones Industrial Average was marginally higher, while the S&P 500 and NASDAQ Composite saw similar gains.
VACCINE MAKERS
Health care is in focus after Gilead Sciences’ drug remdesivir became the first virus treatment approved by the Food and Drug Administration to treat COVID-19.
GILEAD WINS FIRST FDA OK FOR COVID-19 VACCINE
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GILD | GILEAD SCIENCES INC. | 62.91 | +2.23 | +3.68% |
This followed Trump’s debate remarks saying a vaccine could be available in “weeks” while naming contenders including J&J, Pfizer and Moderna.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 146.29 | +1.16 | +0.80% |
| PFE | PFIZER INC. | 37.87 | +0.41 | +1.10% |
| MRNA | MODERNA INC. | 70.47 | -0.37 | -0.52% |
STOCKS RALLY ON STIMULUS CROSSTALK, SOLID JOBS AND HOUSING DATA
Energy stocks, including oil and solar, may get some attention after Biden said he would push transitioning away from big oil.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XOM | EXXON MOBIL CORPORATION | 34.78 | -0.10 | -0.29% |
| CVX | CHEVRON CORP. | 73.70 | +0.32 | +0.44% |
| FSLR | FIRST SOLAR INC. | 84.70 | +2.05 | +2.48% |
| SEDG | SOLAREDGE TECHNOLOGIES | 289.14 | +8.75 | +3.12% |
STIMULUS TALKS STILL ONGOING
On the stimulus front, both sides said that talks continue. However, White House economic adviser Larry Kudlow reiterated to FOX Business that “significant policy differences” remain on Friday. Separately, House Speaker Nancy Pelosi told reporters, “We’re just about there” 24 hours ago.
Despite the comments from lawmakers, COVID-19 cases continue to rise, with the U.S. passing 60,000 confirmed cases for a second straight day. More than 8.4 million Americans have contracted the virus, resulting in over 223,000 deaths, according to the latest data from Johns Hopkins University.
EARNINGS WRAP BUSY WEEK
As for earnings, Intel shares sunk in early Friday trade after the Santa Clara, Calif.-based company missed expectations. Results were negatively impacted by weak sales in its data center group.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| INTC | INTEL CORPORATION | 48.58 | -5.32 | -9.87% |
Shares of Dow member American Express were lower after the credit card and payments giant reported mixed third-quarter results, as revenue beat expectations, but profit fell light.
Illinois Tool Works shares were up after the company reported better-than-expected quarterly results.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AXP | AMERICAN EXPRESS COMPANY | 102.10 | -2.73 | -2.60% |
| ITW | ILLINOIS TOOL | 205.42 | +3.73 | +1.85% |
Southwest Airlines said on Thursday that it will start selling the middle seats again on its flights starting Dec. 1. That leaves Delta Airlines Inc. as the only remaining large airline to not sell middle seats amid worries about the pandemic.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LUV | SOUTHWEST AIRLINES CO. | 41.81 | -0.10 | -0.25% |
| DAL | DELTA AIR LINES INC. | 33.42 | -0.32 | -0.95% |
Uber and Lyft were in the spotlight after the companies were told by a California court to reclassify independent drivers as employees, a move they have fought for some time.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC. | 36.35 | -0.36 | -0.98% |
| LYFT | LYFT INC. | 25.63 | +0.05 | +0.20% |
CLICK HERE TO READ MORE STORIES ON FOX BUSINESS
West Texas Intermediate crude oil moved up slightly to $40.77 a barrel, while gold rose to $1,911.70 an ounce.
European indices also rose on Friday, with the Stoxx Europe 600 climbing 0.7%. The German DAX, French CAC 40 and U.K. FTSE 100 also climbed on Friday, all gaining at least 0.8%.
