Mid-Morning Market Update: Markets Edge Higher; Dave & Buster's Tops Q2 Views

Following the market opening Friday, the Dow traded up 0.05 percent to 26,159.92 while the NASDAQ climbed 0.15 percent to 8,025.70. The S&P also rose, gaining 0.01 percent to 2,904.21.

Leading and Lagging Sectors

Friday morning, the finnacial shares rose 0.51 percent. Meanwhile, top gainers in the sector included China Internet Nationwide Financial Services Inc. CIFS up 9 percent, and Golden Bull Limited DNJR up 7 percent.

In trading on Friday, real estate shares fell 1.39 percent.

Top Headline

Dave & Buster's Entertainment Inc PLAY reported upbeat earnings for its second quarter.

Dave & Buster's posted quarterly earnings of $0.84 per share on revenue of $319.188 million. However, analysts expected earnings of $0.67 per share on sales of $315.25 million. The company raised its FY18 sales guidance from $1.20 billion-$1.24 billion, to $1.23 billion-$1.26 billion. Dave & Busters initiated $0.15 per share quarterly cash dividend and expanded its buyback authorization by $100 million.

Equities Trading UP

Champions Oncology Inc CSBR shares shot up 10 percent to $9.27 after the company reported better-than-expected results for its first quarter.

Shares of Radiant Logistics, Inc. RLGT got a boost, shooting up 13 percent to $5.2152 after the company reported stronger-than-expected results for its fourth quarter on Thursday.

Sears Holdings Corporation SHLD shares were also up, gaining 10 percent to $1.3295 after the company reported a Q2 net loss of $508 million, or $4.68 per share. Its sales dropped 25.6 percent to $3.18 billion, while same-store sales slipped 3.9 percent.

Equities Trading DOWN

IRIDEX Corporation IRIX shares dropped 15 percent to $6.55. IRIDEX priced its 1.67 million share common stock offering at $6 per share.

Shares of Tandem Diabetes Care, Inc. TNDM were down 8 percent to $46.95. Baird downgraded Tandem Diabetes Care from Outperform to Neutral.

PGT Innovations, Inc. PGTI was down, falling around 7 percent to $22.27. PGT Innovations priced its 7 million share offering at $23 per share.

Commodities

In commodity news, oil traded up 0.42 percent to $68.88 while gold traded up 0.18 percent to $1,210.40.

Silver traded up 0.08 percent Friday to $14.255, while copper fell 0.35 to $2.6735.

Eurozone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.14 percent, the Spanish Ibex Index rose 0.01 percent, while Italy’s FTSE MIB Index declined 0.23 percent. Meanwhile the German DAX gained 0.26 percent, and the French CAC 40 climbed 0.25 percent while U.K. shares rose 0.24 percent.

Economics

U.S. retail sales rose 0.1 percent for August, versus economists’ expectations for a 0.4 percent gain.

U.S. import prices declined 0.6 percent in August.

U.S. industrial production rose 0.4 percent for July, versus economists’ expectations for a 0.3 percent increase.

U.S. business inventories rose 0.6 percent for July, versus economists’ expectations for a 0.5 percent gain.

The University of Michigan's consumer sentiment index increased to 100.8 for September, compared to 96.2.

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