Following the market opening Friday, the Dow traded up 0.43 percent to 24,613.96 while the NASDAQ climbed 0.45 percent to 6,887.58. The S&P also rose, gaining 0.52 percent to 2,665.81.
Leading and Lagging Sectors
Friday morning, the consumer staples sector proved to be a source of strength for the market. Leading the sector was strength from Costco Wholesale Corporation COST 4.45% and Lifeway Foods, Inc. LWAY 3.23%.
In trading on Friday, information technology shares fell 0.02 percent.
Top Headline
Adobe Systems Incorporated ADBE 0.1% posted a stronger-than-expected profit for its fourth quarter on Thursday.
Adobe reported Q4 adjusted earnings of $1.26 per share on revenue of $2.01 billion. Analysts expected earnings of $1.16 per share on revenue of $1.95 billion.
Adobe expects Q1 adjusted earnings of $1.27 per share on revenue of $2.04 billion.
Equities Trading UP
ShiftPixy Inc PIXY 94.64% shares shot up 109 percent to $4.53 following Q4 earnings report. ShiftPixy reported sales of $20.244 million in the fourth quarter, up from $8.46 million year-over-year. The company sees first quarter gross billings of $40 million.
Shares of Longfin Corp LFIN 113.19% got a boost, shooting up 72 percent to $9.25 after the company announced agreement to acquire Ziddu.com.
TIGENIX/S ADR TIG 14.77% shares were also up, gaining 15 percent to $24.92. Takeda and TiGenix disclosed that Cx601 has received a positive CHMP opinion for treatment of complex perianal fistulas in Crohn's disease. Mesoblast has granted Tigenix exclusive global patent license to use adipose-derived mesenchymal stem cells in local treatment of fistulae.
Equities Trading DOWN
Verastem Inc VSTM 12.19% shares dropped 12 percent to $3.22. Verastem priced its $25 million common stock offering.
Shares of Rosetta Genomics Ltd. (USA) ROSG 15.63% were down 16 percent to $0.53 after the company agreed to be acquired by Genoptix for $10 million.
TrovaGene Inc TROV 43.19% was down, falling around 43 percent to $0.24. Trovagene priced its 15 million share common stock offering at $0.30 per share.
Commodities
In commodity news, oil traded up 0.44 percent to $57.29 while gold traded up 0.47 percent to $1,263.00.
Silver traded up 1.04 percent Friday to $16.10, while copper rose 0.65 percent to $3.0925.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.31 percent, the Spanish Ibex Index fell 0.06 percent, while Italy’s FTSE MIB Index dipped 0.40 percent. Meanwhile the German DAX climbed 0.13 percent, and the French CAC 40 declined 0.16 percent while U.K. shares rose 0.28 percent.
Economics
The NY Empire State manufacturing index slipped to 18.00 for December, versus the prior reading of 19.40. Economists expected a reading of 18.60.
U.S. industrial production gained 0.2 percent for November, versus economists’ expectations for a 0.3 percent growth.
The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
The Treasury International Capital data for October will be released at 4:00 p.m. ET.
Benzinga does not provide investment advice. All rights reserved.
Recommended Content
Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.