Midway through trading Friday, the Dow traded down 0.82% to 26161.59 while the NASDAQ fell 1.38% to 7928.60. The S&P also fell, dropping 1.05% to 2,907.34.
Leading and Lagging Sectors
Utilities shares fell just 0.02% on Friday. Meanwhile, top gainers in the sector included TransAlta Corporation TAC, up 5%, and Global Water Resources, Inc. GWRS, up 5%.
In trading on Friday, information technology shares tumbled 1.7%.
Top Headline
Uber Technologies Inc. UBER reported weaker-than-expected results for its second quarter on Thursday.
Uber reported a wider-than-expected loss of $4.72 per share versus a consensus estimate of a $3.20 per share loss. Uber's quarterly revenue rose 14% from $2.7 billion in the second quarter of 2018 to $3.2 billion.
The ride-hailing service reached the 100-million mark in monthly active platform consumers for the first time in July and posted 35% year-over-year growth in trips and 37% year-over-year growth in gross bookings, according to Uber.
Equities Trading UP
Arcadia Biosciences, Inc. RKDA shares shot up 123% to $4.49 after Verdeca received USDA approval of HB4 drought tolerant soybeans.
Shares of Puma Biotechnology, Inc. PBYI got a boost, shooting up 20% to $11.10 after the company reported better-than-expected Q2 EPS and sales results.
InnerWorkings, Inc. INWK shares were also up, gaining 48% to $4.20 after reporting upbeat Q2 earnings.
Equities Trading DOWN
Waitr Holdings Inc. WTRH shares tumbled 61% to $1.46 after the company reported worse-than-expected Q2 EPS and sales results and lowered FY19 revenue guidance.
Shares of ViewRay, Inc. VRAY were down 57% to $2.92 after the company reported Q2 results.
Farfetch Limited FTCH was down, falling 41% to $10.71 after the company reported Q2 results.
Commodities
In commodity news, oil traded up 3.5% to $54.41, while gold traded up 0.3% to $1,514.50.
Silver traded up 0.3% Friday to $16.98, while copper fell 0.9% to $2.585.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.84%, the Spanish Ibex Index fell 1.25%, while Italy’s FTSE MIB Index dropped 2.48%. Meanwhile, the German DAX dropped 1.28%, and the French CAC 40 fell 1.11% while UK shares fell 0.44%.
Economics
The Producer Price Index rose 0.2% for July, versus economists’ expectations for a 0.2% gain.
The Baker Hughes North American rig count report for the recent week will be released at 1:00 p.m. ET.
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