The Nasdaq closed in positive territory, rising 39.85 points or 0.15% to end the session at 26,732.71.

Session snapshot

The index registered a modest gain, with the closing level and point movement detailed below.

The Nasdaq's gain of 39.85 points brought the index to a close of 26,732.71, marking a positive finish for the session with a 0.15% advance.

The Nasdaq Composite fell more than 400 points on Wednesday, driven by a 2% decline in information technology stocks. The broader market also retreated, with the S&P 500 down 1.03% and the Dow Jones Industrial Average slipping 0.35%. Bank of America Corp (NYSE: BAC) shares tumbled over 5% after reporting third-quarter results that missed Wall Street expectations.

Market performance

U.S. equities traded lower midway through the session. Health care shares provided a slight offset, rising 2%, but were unable to counter the broader weakness in technology. European markets closed mostly higher, while Asian indices finished lower.

Bank of America misses estimates

Bank of America reported adjusted earnings of $1.08 per share, falling short of the analyst consensus estimate of $1.11. Revenue, net of interest expense, rose 3% year over year to $29.96 billion but missed Wall Street’s forecast of $30.69 billion. The stock’s decline reflects the dual miss on both earnings per share and top-line growth.

What the numbers show

The divergence between revenue growth and profit expectations highlights pressure on margins or costs. While revenue expanded 3% YoY, the failure to meet the $30.69 billion estimate suggests weaker-than-expected core banking activity. Simultaneously, the EPS miss of $0.03 against consensus indicates that profitability did not scale in line with the modest revenue increase, signaling potential operational headwinds for the bank in the quarter.

Notable movers

Several individual stocks saw significant volatility based on company-specific news:

• Treasure Global Inc (NASDAQ: TGL) shares rose 260% to $1.00 following a report of a narrower fourth-quarter loss driven by strong revenue growth.
• Bending Spoons SpA (NASDAQ: BSP) surged 38% to $52.18 after announcing a new $330 million investment from Berkshire Hathaway.
• Liquidia Corp (NASDAQ: LQDA) gained 27% to $33.96 after announcing a global settlement with United Therapeutics, ensuring YUTREPIA remains available to patients.
• CDT Equity Inc (NASDAQ: CDT) dropped 51% to $0.22 following an announcement regarding intellectual property covering respiratory medicine forms.
• YYForce Inc. (NASDAQ: YFOR) fell 46% to $0.54 despite announcing a partnership to introduce service robots in Singapore hotels.

Commodities and economic data

In commodity markets, oil traded up 1.5% to $95.52, while gold declined 1.4% to $4,118.60. Silver fell 4.6% to $56.79, and copper dipped 0.5% to $6.6935.

On the economic front, consumer prices rose from 3.4% to 3.7% year over year in September, exceeding the 3.6% expected by economists, according to the Bureau of Labor Statistics.