Market Opens on a High Note

Friday marked a significant uptick for major U.S. stock markets, as investors keenly awaited insights from the latest ISM Manufacturing Index and speeches by Federal Reserve officials Thomas Barkin and Mary Daly. In a remarkable premarket surge, Rivian Automotive soared 5.58%, following an impressive Q4 2024 delivery report of 14,183 vehicles, surpassing expectations.

Corporate Developments and Presidential Decisions

In corporate news, President Joe Biden made headlines by officially blocking Nippon Steel's ambitious $14.9 billion bid for US Steel, a move that has sparked widespread discussions on the future of U.S. steel industry.

Stock Performance Highlights

At 9:30 am ET, the Dow Jones Industrial Average witnessed a 0.49% increase, adding 208 points, and within minutes, it climbed to a 250-point gain, with Amazon shares rising by 1.49%. The Nasdaq 100 and S&P 500 also enjoyed a positive start, with gains of 0.60% and 0.50% respectively, and Constellation Energy Corporation leading the charge with a 3.38% advance.

On the currency front, the euro experienced a 0.31% uptick against the dollar at 9:28 am ET, trading at $1.02923.