Alector (NASDAQ:ALEC), Digital Media Solns (NYSE:DMS) – The Dow climbs more than 400 points, the S&P 500 rises 1.5%

US stocks traded higher towards the end of the session, with the Dow Jones gaining more than 400 points on Friday.

The Dow Jones rose 1.34% to 32,201.35 while the NASDAQ rose 2.01% to 12,100.49. The S&P 500 also rose, gaining 1.53% to 4,067.64.

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Leading and Lagging Sectors

Communications services shares jumped 2.3% on Thursday. Meanwhile, top earners in the industry included Wejo Group Limited WEJOup 12% and fuboTV Inc. FUBO up 11%.

In Thursday’s trading, utility stocks were up just 0.7%.

Superior title

Wholesale inventories in the United States rose 0.6% from the previous month to $900.7 billion in July, against an initial estimate of a 0.8% increase.

Stock exchange rising

• MOGU Inc. MOGU shares jumped 30% to $2.5950 after the company announced a $10 million buyback program.
• Shares of Zscaler, Inc. SZ got a boost, rising 20% ​​to $184.85 after the company reported better-than-expected fourth-quarter results and released better-than-estimated sales guidance.
• Digital Media Solutions, Inc. SGD shares also rose, gaining 70% to $2.17 after the company received a non-binding privatization proposal from Prism Data for $2.50 per share in cash.

Stock trading down

• Immunocore Holdings plc IMCR shares fell 21% to $45.39 after the company presented its Phase 1 data for TCR therapy targeting PRAME.
• Shares of Alector, Inc. ALEC fell 12% to $9.62 after Morgan Stanley downgraded the stock from overweight to equal weight and lowered its price target from $27 to $13.
• NovaBay Pharmaceuticals, Inc. NPAR was lower, falling 18% to $0.1702. NovaBay Pharmaceuticals has entered into agreements for a private placement and warrant repricing transactions to raise up to $5.3 million.

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Goods

In commodities news, oil was trading up 3.8% at $86.69, while gold was trading down 0.3% at $1,726.10.

Silver traded up 1.4% to $18.705 on Friday while copper rose 0.8% to $3.5555.

Eurozone

European stocks closed higher today. The Eurozone STOXX 600 gained 1.52%, London’s FTSE 100 rose 1.23%, while Spain’s IBEX 35 index rose 1.47%. The German DAX gained 1.43%, the French CAC 40 gained 1.41% and the Italian FTSE MIB index gained 1.92%.

Industrial production in France fell 1.6% from a month ago in July, compared to a revised increase of 1.2% in June, while industrial production in Spain increased by 5.3% in year-over-year in July.

Economy

• Wholesale inventories in the United States rose 0.6% from the previous month to $900.7 billion in July, against an initial estimate of a 0.8% increase.
• The total number of active U.S. oil rigs fell by 5 to 591 rigs this week, Baker Hughes Inc. reported.

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COVID-19 Update

The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 96,959,160 cases with around 1,074,780 deaths. India has confirmed a total of at least 44,484,720 cases and 528,120 deaths, while France has reported over 34,663,100 cases of COVID-19 with 154,430 deaths. In total, there have been at least 612,754,590 cases of COVID-19 worldwide with more than 6,512,830 deaths.