Gold Miners Surge 3.2% as Financials Lead Broad Rally
Gold miners jumped 3.2% and financials rose 0.9% ahead of bank earnings. JPMorgan (Alpha Score 49) and Wells Fargo (46) report Tuesday. Humana surged 16.3%; Apple dropped 2.6%.
U.S. equities climbed Friday afternoon, with the Dow leading up 0.85%, the S&P 500 up 0.56%, and the Nasdaq up 0.43%. The standout sector was precious metals: the VanEck Gold Miners ETF jumped 3.24% as gold rose 1.63% and silver gained 2.86%. The biotech ETF climbed 3.12% on trial news and M&A speculation.
Financials rose 0.92% ahead of Q3 earnings from JPMorgan Chase and Wells Fargo next week. JPMorgan carries an Alpha Score of 49, labeled Mixed, at $358.64, down 0.94% on the day. Wells Fargo has an Alpha Score of 46, also Mixed. Communication Services lagged, falling 1.31%.
Among single stocks, Humana soared 16.3% on Medicare Advantage ratings. Nvidia rose 1.4%; Apple fell 2.6% on heavy volume. Tutor Perini collapsed 81.0% after a corporate event. The Q3 earnings season kicks off Tuesday with JPMorgan, Goldman Sachs, and Wells Fargo reporting.
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