Market Overview

Mid-Day Market Update: Crude Oil Slides Over 1%; American Apparel Shares Jump

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Mid-Day Market Update: Crude Oil Slides Over 1%; American Apparel Shares Jump
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Editor's note: An earlier version of this article cited incorrect information from Wednesday's market movers. The error has been corrected.

Midway through trading Friday, the Dow traded up 0.24 percent to 18,072.51 while the NASDAQ climbed 0.61 percent to 4,802.76. The S&P also rose, gaining 0.40 percent to 2,090.29.

Leading And Lagging Sectors

On Friday, the basic materials sector proved to be a source of strength for the market. Leading the sector was strength from Amyris, Inc. (NASDAQ: AMRS) and Seabridge Gold, Inc. (NYSE: SA).

In trading on Friday, non-cyclical consumer goods & services shares rose by just 0.21 percent. Meanwhile, top decliners in the sector included Cal-Maine Foods, Inc. (NASDAQ: CALM), down 5.6 percent, and K12, Inc. (NYSE: LRN), off 2.6 percent.

Top Headline

Amazon.com, Inc. (NASDAQ: AMZN) announced Friday morning that its 20th holiday season was its most successful to date with record growth seen in Amazon Prime.

According to a company press release, more than 10 million new members worldwide tried Prime for the first time.

Equities Trading UP

Juno Therapeutics Inc. (NASDAQ: JUNO) shares shot up 6.89 percent to $42.75 after climbing 7.27 percent on Wednesday.

Shares of Gilead Sciences Inc. (NASDAQ: GILD) got a boost, shooting up 2.15 percent to $93.25. The rise in the stock may be attributed to a possible report by analysts at RBC stating that the company could launch a buyback program of $10 billion or more.

American Apparel, Inc. (NYSE: APP) shares were also up, gaining 2.83 percent to $1.09 following a report that the company is weighing “strategic options.”

Equities Trading DOWN

MasterCard Incorporated (NYSE: MA) shares tumbled 0.16 percent to $87.63. Visa Inc (NYSE: V) and Mastercard announced that the companies are suspending products and services in Crimea.

Shares of Sphere 3D Corporation (NYSE: ANY) were down 3.17 percent to $5.80. Industrial Networking Solutions has selected Sphere 3D's SnapServer network attached storage for video surveillance and security solution.

NQ Mobile Inc. (NYSE: NQ) was down, falling 5.32 percent to $4.09. NQ Mobile announced annual general meeting results.

Commodities

In commodity news, oil traded down 1.13 percent to $55.21, while gold traded up 1.82 percent to $1,194.80.

Silver traded up 2.55 percent Friday to $16.11, while copper fell 1.61 percent to $2.81.

Eurozone

European shares were closed on Friday.

Economics

Data on money supply will be released at 4:30 a.m. ET.

Posted-In: Earnings News Guidance Eurozone Futures Commodities FDA Econ #s

 

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