Stocks Rise as Investors Digest Big Tech Gains, Jobs Report; Amazon and Nvidia are jumping

It’s been a wild week for Trump Media Stock

26 minutes ago

Shares of Trump Media & Technology Group (DJT), most of which was owned by former President Donald Trump, recently fell slightly to around $35. This week, the stock has risen as much as 40% above last Friday’s closing price near $39, and fallen nearly 15% below that. That meant big swings in the market value of the Republican presidential candidate’s majority stake, which is nonetheless worth billions of dollars.

And that’s just a small amount of factual news about the company, which operates the Truth Social platform. Instead, traders have seized on the story as a way to bet on the outcome of the presidential election, which is broadly seen as a race between Trump and Democratic Vice President Kamala Harris.

Opinion polls generally point to a close race ahead of Election Day.

In some prediction markets, speculators appear to have stronger faith in the likelihood of a Trump victory: On Polymarket, for example, traders have generally supported a greater than 60% probability of a Trump victory for most of this week; those odds were slightly lower on some other platforms. (Here it is Investopedias election betting guide,)

Meanwhile, shares of Trump Media have been moving dramatically, with the shares trading halted multiple times this week on volatility. At one point, the shares traded at levels not seen since the high-flying days following their debut on the public markets earlier this year.

For now, they are back around July levels, having left October lows.

–David Marino-Nachison

Boeing shares rise after new deal is reached with Union

1 hour and 39 minutes ago

Boeing (BAShares gained ground in premarket trading on Friday after the planemaker reached a tentative agreement with its machinists’ union on a new contract, potentially ending a crippling seven-week strike.

The International Association of Machinists (IAM) is asking its members to approve Boeing’s tightened offer in a vote on Monday. Their members have been on strike since September 13.

“In every negotiation and strike, there is a point where we have extracted everything we could during the negotiations and by withholding our labor,” IAM District 751 said Thursday. “We are at that point now and risk a regressive or lower offer in the future.”

The new offer includes an across-the-board pay increase of 38% over four years, higher than the previous offer of 35%. That “amounts to 43.65% over the term of the agreement,” the union said. The new offer also gives employees the option of a one-time ratification bonus of $12,000; 401(k) contribution; or “a combination of both,” the union said.

The strike has been painful for Boeing raise billions of dollars to prevent a money drain. General Manager (CEO) Kelly Ortberg, who stepped into the role in August, said in a memo to employees last month that the planemaker plans to lay off approximately. 10% of the workforceor 17,000 employees, “in the coming months” and postpones its launch first 777x jet aircraft.

Boeing shares, which are up 2% in premarket trading, have lost more than 40% of their value this year after Thursday’s close.

–Nisha Gopalan

Amazon price levels to watch after earnings beat

2 hours and 31 minutes ago

Amazon (AMZN) shares rose more than 7% in premarket trading after the company beat Wall Street’s third-quarter profit expectations.

The stock is poised to break out of the symmetrical triangle following the company’s better-than-expected quarterly report.

Investors should pay attention to key overhead price levels on the Amazon chart around $200, $242, and $273, while also keeping an eye on a key support area during profit-taking periods around $192.

Read the full technical analysis piece here.

–Timothy Smit

Stock futures higher ahead of jobs report

2 hours 52 minutes ago

Futures tied to the Dow Jones Industrial Average rose 0.4%.

Futures on the S&P 500 also rose 0.4%.

Nasdaq 100 futures also rose 0.4%.