A report says Spirit Airlines has been exploring a bankruptcy filing, Palantir stock is headed for another all-time closing high, and Rivian tumbles after saying it was experiencing a ‘production disruption.

Rivian is also affirming its annual delivery outlook of low-single-digit percentage growth compared with 2023. Rivian pro

Key Takeaways Major U.S. indexes were on the rise at midday Friday after a report showed employers added more jobs than economists expected in September.Shares of United Airlines and other air carriers gained following a report that discount carrier Spirit Airlines is in discussions that could lead to a bankruptcy filing.

The Dow Jones Industrial Average rose as much as 0.7%, or 300 points, the S&P 500 climbed as much as 0.8% and the tech-heavy Nasdaq bounced as much as 1.2% and the small-cap Russell 2000 surged 1.6% shortly after market open, though gains were trimmed by late morning trading.

"On the face of this the Fed should be hiking rates with these sorts of figures, not cutting rates," Economist James Knightley said.

U.S. stocks rallied Friday after a surprisingly strong report on the U.S. job market raised optimism about the economy. The Standard & Poor's 500 climbed 0.9% and got close to its all-time high set on Monday.

Shares in shipping companies fell heavily across Asia on Friday after workers and U.S. port operators agreed a deal to end a strike on the East and Gulf coast docks far sooner than expected.

Shipping stocks fell as the U.S. dockworker agreement seems to make the prospect of sustained higher freight rates unlikely.

The end of the three-day U.S. port strike has implications for a number of transportation and shipping stocks, say analysts. Late Thursday, the International Longshoremen’s Association and the United States Maritime Alliance said they had reached a tentative agreement on wages and agreed to extend their master contract until Jan.

All three major indexes fell, led by the Dow industrials. Markets have been volatile in recent days with tensions ratcheting up between Israel and Iran.

U.S. stocks are drifting lower Thursday, as crude oil prices continue to climb. The S&P 500 was down 0.1% in early trading following a shaky run where worries about worsening tensions in the Middle East knocked the index off its record.

Oil prices surged and major stock markets mostly retreated Thursday as investors reacted to fears of widening conflict in the Middle East.