Mid-Afternoon Market Update: Dow Jumps 125 Points; America's Car-Mart Shares Gain On Earnings Beat
|oward the end of trading Friday, the Dow traded up 0.49 percent to 25,684.64 while the NASDAQ climbed 0.10 percent to 7,813.98. The S&P also rose, gaining 0.35 percent to 2,850.63.
Leading and Lagging Sectors
Friday afternoon, the telecommunication services shares rose 0.63 percent. Meanwhile, top gainers in the sector included Cincinnati Bell Inc. CBB 4.4% up 4 percent, and Globalstar, Inc. GSAT 3.52% up 4 percent.
In trading on Friday, information technology shares fell 0.24 percent.
Top Headline
Deere & Company DE 2.56% reported weaker-than-expected earnings for its third quarter.
Earnings came in at $2.59 per share, missing estimates of $2.75 per share. Total equipment sales climbed 36 percent to $9.3 billion.
Equities Trading UP
Tel-Instrument Electronics Corp. TIK 56.73% shares shot up 50 percent to $3.9001 after the company reported a multi-million dollar order from the German government.
Shares of Zoe's Kitchen, Inc. ZOES 34.28% got a boost, shooting up 33 percent to $12.75 after the company agreed to be acquired by CAVA Group for $12.75 per share.
America's Car-Mart, Inc. CRMT 20.21% shares were also up, gaining 19 percent to $79.50 after the company beat Q1 earnings estimates.
Equities Trading DOWN
Safe-T Group Ltd. SFET shares dropped 26 percent to $10.65 after pricing IPO at $14.35 per ADS.
Shares of Adtalem Global Education Inc. ATGE 15.56% were down 15 percent to $47.275 after the company reported weaker-than-expected Q4 results.
Amyris, Inc. AMRS 11.87% was down, falling around 13 percent to $6.5238 after the company announced a 7.65 million share secondary offering at $6.25 per share.
Commodities
In commodity news, oil traded up 0.05 percent to $65.49 while gold traded up 0.03 percent to $1,184.40.
Silver traded down 0.56 percent Friday to $14.63, while copper rose 0.36 to $2.6445.
Eurozone
European shares closed lower today. The eurozone’s STOXX 600 dropped 0.10 percent, the Spanish Ibex Index fell 0.11 percent, while Italy’s FTSE MIB Index declined 0.53 percent. Meanwhile the German DAX declined 0.22 percent, and the French CAC 40 slipped 0.08 percent while U.K. shares rose 0.03 percent.
Economics
The University of Michigan's consumer sentiment index dropped to 95.3 in August, versus 97.9 in July. However, economists were expecting a reading of 98.1.
The leading economic index increased 0.6 percent in July, versus a 0.5 percent increase in June.
The total number of active U.S. oil rigs came in unchanged at 869 rigs this week, Baker Hughes Inc. reported.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.