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Key Takeaways
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Major U.S. indexes gained at midday Friday after the Federal Reserve’s favored measure of inflation came in below estimates.
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Shares of Carnival Corporation surged after the cruise line operator beat earnings estimates.
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Warren Buffett's Berkshire Hathaway raised its stake in Occidental Petroleum and SiriusXM, sending shares higher.
Major U.S. indexes gained at midday Friday after the Federal Reserve’s favored measure of inflation came in below estimates. The Dow, S&P 500, and Nasdaq all rose more than 1%.
Shares of Carnival Corporation (CCL) surged after the cruise line operator beat earnings estimates and gave an optimistic outlook about bookings for future trips.
Shares of Occidental Petroleum (OXY) and SiriusXM (SIRI) also gained after Warren Buffett’s Berkshire Hathaway (BRK.A, BRK.B) raised its stake in both those stocks.
Eli Lilly (LLY) shares rose as weight-loss treatment rival Novo Nordisk (NVO) reported disappointing results from a study of its new experimental obesity treatment. U.S.-listed shares of Novo Nordisk plunged.
U.S. Steel (X) shares tumbled after the steelmaker’s current-quarter guidance missed expectations on falling prices and costs related to a factory being developed in Arkansas.
Gold prices advanced and oil futures were little changed. The yield on the 10-year Treasury note slid. The U.S. dollar lost ground to the euro, pound, and yen. Bitcoin and other major cryptocurrencies fell.
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