Stock Market Today: Live Updates

Sarepta Therapeutics shares soared 33% after the Food and Drug Administration approved further use of the company’s gene therapy for Duchenne muscular dystrophy.

European markets were lower at the open on Friday but maintained their upward trend on a weekly basis as investors kept a close eye on a series of decisions and data releases from the region’s central banks.

France’s CAC 40 index fell 0.1%, while Germany’s DAX and Britain’s FTSE 100 both fell about 0.2%.

Jenni Reed

According to Nuveen’s Saira Malik, tech stocks may soon see a pullback.

“When you look at the technicals and the inflows into tech stocks, they look overbought in the near term,” the firm’s chief investment officer said on CNBC’s “Power Lunch” on Thursday. “The relative strength index is telling us tech stocks are overbought right now, so I wouldn’t be surprised if they take a breather in the near term.”

But there’s one big tech stock that stands to see big upside going forward, especially given the limited supply of artificial intelligence stocks, Malik said.

“Nvidia is definitely becoming the tail wagging the dog,” she said, adding that the company’s shares are not expensive compared to the semiconductor industry as a whole. “It’s just not a stock you should be paying a lot of money for.”

Shares of the chipmaker closed down 3.54% on Thursday after hitting a new 52-week high during trading. The company’s shares are up about 164% this year.

Sean Conlon

Asana shares rose 4% late Thursday after the company announced a $150 million share repurchase program that the company said will run through June 30, 2025.

The stock is still down more than 40% since the beginning of the year.

— Kim Hagyeong