Following the market opening Friday, the Dow traded up 0.13 percent to 20,683.36 while the NASDAQ rose 0.54 percent to 5,849.25. The S&P also rose, gaining 0.25 percent to 2,351.81.
Leading and Lagging Sectors
Friday morning, the technology sector proved to be a source of strength for the market. Leading the sector was strength from Micron Technology, Inc. MU and NeoPhotonics Corp NPTN.
In trading on Friday, basic materials shares fell 0.07 percent. Meanwhile, top losers in the sector included US Concrete Inc USCR, down 9 percent, and Commercial Metals Company CMC, down 3 percent.
Top Headline
Finish Line Inc FINL reported weaker-than-expected earnings for its fourth quarter.
Finish Line reported Q4 adjusted earnings of $0.50 per share on revenue of $557.5 million. Analysts expected earnings of $0.71 per share on revenue of $550 million.
Finish Line expects FY17 earnings of $1.12 to $1.23 per share, versus analysts’ estimates of $1.46 per share.
Equities Trading UP
HTG Molecular Diagnostics Inc HTGM shares shot up 162 percent to $10.29 after surging 83.64 percent on Thursday. HTG Molecular Diagnostics reported a Q4 loss of $0.76 per share on revenue of $1.5 million.
Shares of ZAIS Group Holdings, Inc. ZAIS got a boost, shooting up 41 percent to $3.19. ZAIS Group reported Q4 earnings of $0.29 per share on revenue of $16.73 million.
Eleven Biotherapeutics Inc EBIO shares were also up, gaining 12 percent to $2.12 after the company posted a narrower-than-expected quarterly loss.
Equities Trading DOWN
Xenon Pharmaceuticals Inc XENE shares dropped 52 percent to $4.70 after the company disclosed that XEN801 did not meet efficacy endpoints in Phase 2 trial.
Shares of Medigus Ltd. MDGS were down around 27 percent to $3.24. Medigus announced a $7.5 million offering for Class A and B shares.
Finish Line Inc FINL was down, falling around 21 percent to $12.72 after the company reported weaker-than-expected earnings for its fourth quarter.
Commodities
In commodity news, oil traded up 0.34 percent to $47.86 while gold traded down 0.10 percent to $1,248.80.
Silver traded up 0.44 percent Friday to $17.67, while copper fell 0.38 percent to $2.63.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 slipped 0.28 percent, the Spanish Ibex Index fell 0.08 percent, while Italy’s FTSE MIB Index rose 0.05 percent. Meanwhile the German DAX gained 0.01 percent, and the French CAC 40 fell 0.31 percent while U.K. shares fell 0.09 percent.
Economics
U.S. durable goods orders rose 1.7 percent for February, versus economists’ expectations for a 1.2 percent gain.
The Markit manufacturing PMI slipped to 53.40 in March, versus prior reading of 54.20. Economists expected a reading of 54.80. Markit services PMI declined to52.90 in March, versus a previous reading of 53.80.
New York Federal Reserve Bank President William Dudley will speak in New York at 10:00 a.m. ET.
The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
San Francisco Federal Reserve Bank President John Williams is set to speak in Washington, D.C. at 1:00 p.m. ET.
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