Mid-Morning Market Update: Markets Mixed; Nike Tops Q3 Expectations

Following the market opening Friday, the Dow traded up 0.22 percent to 24,010.76 while the NASDAQ declined 0.28 percent to 7,146.92. The S&P also rose, gaining 0.01 percent to 2,644.06.

Leading and Lagging Sectors

Friday morning, the energy shares gained 1.02 percent. Meanwhile, top gainers in the sector included Foresight Energy LP FELP, up 5 percent, and Energy Fuels Inc. UUUU, up 7 percent.

In trading on Friday, information technology shares fell 0.32 percent.

Top Headline

Nike Inc NKE reported stronger-than-expected results for its third quarter and reported the purchase of Zodiac on Thursday.

Adjusted earnings came in at 68 cents per share, beating estimates of 53 cents per share. Sales came in at $9 billion, versus estimates of $8.85 billion.

Equities Trading UP

CareDx, Inc CDNA shares shot up 20 percent to $7.195 as the company reported results for its fourth quarter.

Shares of New York & Company, Inc. NWY got a boost, shooting up 23 percent to $3.41 following Q4 results.

At Home Group Inc. HOME shares were also up, gaining 18 percent to $31.15 after the company reported upbeat Q4 earnings and issued upbeat FY19 guidance.

Equities Trading DOWN

Kona Grill, Inc. KONA shares dropped 10 percent to $1.90 after the company reported Q4 results.

Shares of Destination XL Group, Inc. DXLG were down 14 percent to $1.9714 following Q4 results.

Resonant Inc. RESN was down, falling around 10 percent to $3.41. Resonant priced its 5.7 million share offering at $3.50 per share.

Commodities

In commodity news, oil traded up 0.54 percent to $64.65 while gold traded up 1.40 percent to $1,351.80.

Silver traded up 1.27 percent Friday to $16.595, while copper fell 0.13 percent to $3.016.

Eurozone

European shares were lower today. The eurozone’s STOXX 600 declined 0.87 percent, the Spanish Ibex Index fell 0.89 percent, while Italy’s FTSE MIB Index dipped 1.31 percent. Meanwhile the German DAX fell 1.44 percent, and the French CAC 40 slipped 1.27 percent while U.K. shares fell 0.44 percent.

Economics

U.S. durable goods orders rose 3.1 percent for February, beating economists’ expectations for a 1.5 percent gain.

Minneapolis Federal Reserve Bank President Neel Kashkari will speak in New York at 10:30 a.m. ET.

Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Austin at 11:30 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.