Mid-Morning Market Update: Markets Show Strength as RetailMeNot Falls Once Again

Following the market opening Friday, the Dow traded up 0.33 percent to 16,598.03 while the NASDAQ surged 0.37 percent to 4,169.74. The S&P also rose, gaining 0.33 percent to 1,898.76.

Industrials lead the rally in US markets on Friday, with names like Nordson

which gained 8.73 percent and StealthGas which rallied 7.31 percent. Healthcare proved to be a relative laggard Thursday as traders rotated out of defensive plays, with large healthcare names looking sluggish.

Making the top of headlines Friday was Hewlett Packard's

earnings leak before the close Thursday. While the report itself held little in the way of fireworks, the company did announce expanded job cuts, moving its layoffs to near 50 thousand, or almost a sixth of the company's workforce.

Parsley Energy

showed strength Friday, gaining 19.92 percent to $22.18 after the company's IPO impressed the street. Shares of Isis Pharmaceuticals

were up as well, gaining 10.54 percent to $27.58 after the company rode a tide of strong investor sentiment from its positive phase II data on Thursday. Ruckus Wireless

also showed strength, rising 6.53 percent to $10.44 after a Gigaom report showed that the company had signed a deal with Google to help build a wireless network on the cloud.

Aruba Networks

looked to be leading things to the downside, falling 15.40 percent to $16.97 after gross margin concerns took a toll on the share price. RetailMeNot

fell once again Friday, dropping 7.65 percent to $23.30 following a downgrade from Stifel to a Hold rating. Shares of Matador Resources

were down as well, falling 4.89 percent to $24.89 after the company priced its secondary spot offering at $25 per share.

In commodity news,

to $104.12, while gold traded down 0.19 percent to $1,292.70. Silver traded down 0.32 percent Friday to $19.44, while copper rose 0.75 percent to $3.16.

Europe's markets were mostly lower Friday; the UK's FTSE lost 0.25 percent, the STOXX 600 was down 0.11 percent and both the German DAX and the Spanish IBEX lost 0.01 percent. However, France's CAC 40 rose 0.03 percent and Italy's MIB gained 0.34 percent.

In economic news Friday, new home sales came in at 433K, beating estimates of 425K, and showing significant growth over the revised prior figure of 407k. The month over month growth in new home sales came in at 6.4 percent, missing consensus estimates of 10.7 percent, but crushing the revised prior figure of a loss of 6.9 percent.