U.S. stocks rise as Nasdaq gains more than 100 points

  • U.S. stocks ended higher, led by a more than 100-point Nasdaq Composite gain.
  • Information technology shares rose 1.2%, while energy stocks fell 1.2%.
  • University of Michigan sentiment fell to 48.1 in September from 51.7 the previous month.

U.S. stocks ended higher on Friday, with the Dow rising 0.85% to 51,785.35, the Nasdaq Composite gaining 0.55% to 27,086.81 and the S&P 500 adding 0.50% to 7,742.75. The Nasdaq gained more than 100 points. Information technology shares advanced 1.2%, while energy stocks fell 1.2%. The University of Michigan’s consumer sentiment index dropped to 48.1 in September from 51.7 the previous month, but exceeded the preliminary reading of 47.8. Atlas Energy Solutions rose 15% after two wholly owned, indirect subsidiaries entered separate cost reimbursement agreements. Marygold Companies surged 92% after Madison Dearborn Partners agreed to acquire it for $2 per share in an all-cash transaction, a 100% premium to the prior close. INLIF gained 72% after reporting a first-half profit, supported by 26% revenue growth and higher margins. Zscaler fell 9% after naming Ross Tackett chief revenue officer, while Scholastic declined 8% after reporting weak first-quarter results. Trugolf dropped 33% after announcing a 1-for-10 reverse stock split, which consolidates shares without changing the company’s underlying value. Oil fell 2.5% to $92.26, while gold rose 0.5% to $4,319.10, silver gained 1.1% to $64.730 and copper declined 0.3% to $6.7720. European shares were mostly higher, while Asian markets closed mixed. U.S. durable goods orders were largely flat month-over-month at $338.6 billion in August, following two consecutive monthly gains and outperforming market expectations for a 0.4% decline.

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