Mid-Day Market Update: Crude Oil Down Over 3%; Shoe Carnival Shares Gain After Q1 Results

Midway through trading Friday, the Dow traded down 0.02 percent to 24,806.67 while the NASDAQ climbed 0.32 percent to 7,448.43. The S&P also fell, dropping 0.07 percent to 2,725.86.

Leading and Lagging Sectors

On Friday, the consumer staples shares surged 0.62 percent. Meanwhile, top gainers in the sector included Universal Corporation UVV, up 5 percent, and Freshpet, Inc. FRPT up 4 percent.

In trading on Friday, energy shares fell 3.28 percent.

Top Headline

Foot Locker, Inc. FL reported better-than-expected results for its first quarter.

The company posted adjusted earnings of $1.45 per share on revenue of $2.025 billion. However, analysts were expecting earnings of $1.25 per share on revenue of $1.96 billion.

Equities Trading UP

Shoe Carnival, Inc. SCVL shares shot up 17 percent to $30.91 after the company reported upbeat quarterly earnings

Shares of Quality Systems, Inc. QSII got a boost, shooting up 14 percent to $17.08 after the company posted better-than-expected FQ4 results.

Foot Locker, Inc. FL shares were also up, gaining 15 percent to $53.50 after the company reported better-than-expected results for its first quarter.

Equities Trading DOWN

Zoe's Kitchen, Inc. ZOES shares dropped 34 percent to $9.6098 after the company reported weaker-than-expected earnings for its first quarter. The company also lowered its FY18 sales outlook from $358million-$368 million to $345 million-$352 million.

Shares of 8x8, Inc. EGHT were down 18 percent to $18.005 after reporting downbeat quarterly earnings.

BG Staffing, Inc. BGSF was down, falling around 13 percent to $18.95 after reporting a common stock offering.

Commodities

In commodity news, oil traded down 3.17 percent to $68.47 while gold traded down 0.09 percent to $1,308.60.

Silver traded down 0.64 percent Friday to $16.58, while copper fell 0.71 to $3.074.

Eurozone

European shares were mostly lower today. The eurozone’s STOXX 600 gained 0.07 percent, the Spanish Ibex Index fell 2.04 percent, while Italy’s FTSE MIB Index declined 1.82 percent. Meanwhile the German DAX rose 0.38 percent, and the French CAC 40 slipped 0.10 percent while U.K. shares fell 0.14 percent.

Economics

U.S. durable goods orders fell 1.7 percent for April, versus economists’ expectations for a 1.4 percent drop.

The University of Michigan's consumer sentiment index declined to 98 points in May, versus a reading of 98.8 in April. Economists projected a reading of 98.9.

The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.