Mid-Afternoon Market Update: Dow Falls 80 Points; American Outdoor Brands Shares Rise Following Upbeat Earnings

Toward the end of trading Friday, the Dow traded down 0.30 percent to 25,902.47 while the NASDAQ gained 0.03 percent to 8,090.56. The S&P also fell, dropping 0.25 percent to 2,893.90.

Friday afternoon, the consumer discretionary shares rose 0.21 percent. Meanwhile, top gainers in the sector included

up 38 percent, and

up 16 percent. In trading on Friday, energy shares fell 0.83 percent.

reported downbeat earnings for its second quarter and issued weak forecast for FY18. Big Lots posted quarterly earnings of $0.59 per share on revenue of $1.222 billion. However, analysts were expecting earnings of $0.67 per share on revenue of $1.23 billion. Big Lots expects FY18 adjusted earnings of $4.40 to $4.55 per share, versus analysts' estimates of $4.57 per share.

shares shot up 39 percent to $13.59 after reporting a first-quarter earnings beat. The company issued strong second-quarter and FY19 earnings guidance. Shares of

got a boost, shooting up 22 percent to $8.70 after reporting upbeat Q4 results.

shares were also up, gaining 23 percent to $0.79 after the company's MTD201 oncology candidate demonstrated a 'favorable' clinical profile in a proof of concept study.

shares dropped 15 percent to $28.88. Zuora reported better-than-expected earnings for its second quarter, but issued weak guidance for its third quarter. Shares of

were down 12 percent to $0.20 after the company reported July sales of $900,000 compared with $230,000 in July of 2017.

was down, falling around 10 percent to $43.27 after the company reported downbeat earnings for its second quarter and issued weak forecast for FY18.

In commodity news, oil traded down 0.51 percent to $69.89 while gold traded up 0.08 percent to $1,206.00. Silver traded down 0.30 percent Friday to $14.55, while copper fell 1.71 to $2.671.

European shares closed lower today. The eurozone's STOXX 600 fell 0.80 percent, the Spanish Ibex Index fell 0.72 percent, while Italy's FTSE MIB Index dropped 1.10 percent. Meanwhile the German DAX declined 1.04 percent, and the French CAC 40 slipped 1.30 percent while U.K. shares fell 1.11 percent.

The Chicago PMI declined to 63.60 for August, versus prior reading of 65.50. However, economists were expecting a reading of 63.00. The final reading of University of Michigan's consumer sentiment index rose to 96.2 for August, versus preliminary reading of 95.3. The total number of active U.S. oil rigs rose by 2 to 862 rigs this week, Baker Hughes Inc reported.