Market Overview

Mid-Day Market Update: Markets Up; Real Estate Plunges


Midway through trading Friday, the Dow traded up 0.5% to 26,926.51 while the NASDAQ rose 0.4% to 8,217.61. The S&P also rose, gaining 0.3% to 3,019.05.

Leading and Lagging Sectors

Materials shares climbed 0.9% on Friday. Meanwhile, top gainers in the sector included DMC Global Inc (NASDAQ: BOOM), up 18%, and Clearwater Paper Corp (NYSE: CLW), up 8.1%.

In trading on Friday, Real Estate shares fell 1%.


Top Headline, Inc. (NASDAQ: AMZN) reported disappointing earnings for its third quarter, sending its shares nosediving.

Amazon’s third-quarter earnings of $2.1 billion, or $4.23 per share, representing a year-to-year decline and coming in short of the consensus estimate of $4.59 per share. This marked the first year-to-year decline in quarterly earnings for the company since 2017. Amazon cited increased spend on one-day deliveries and other initiatives as reasons for the earnings downturn.


Equities Trading UP

  • DMC Global Inc (NASDAQ: BOOM) shares rose 18% to $46 after the company reported its third quarter earnings at $0.90 per share, ahead of the Street expectations of $0.80.
  • Xunlei Ltd (NASDAQ: XNET) shares rose 16.8% to $2.71.
  • Anika Therapeutics Inc (NASDAQ: ANIK) shares rose $14.2% to $62.00 after the company reported its third quarter earnings at $0.64 per share, beating the consensus estimate of $0.41.


Equities Trading DOWN

  • Melinta Therapeutics Inc (NASDAQ: MLNT) shares fell 25.6% to $3.25 after the company announced that despite FDA approval, the launch of Baxdela would be delayed due to liquidity issues.
  • Vocera Communications Inc (NYSE: VCRA) shares fell 24.7% to $18.30, despite the company reporting third quarter EPS of $0.23, ahead of the Street expectations of $0.19.
  • BeyondSpring Inc (NASDAQ: BYSI) shares fell 22.4% to $13.01. The company has announced the pricing of an underwritten public offering of its ordinary shares at a public offering price of $13.50 per share.



In commodity news, oil traded up 0.5% to $56.51, while gold rose 0.4% to $1,510.60.

Silver traded up 1.9% Friday to $18.14, while copper rose 0.6% to $2.68.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.1%, the Spanish Ibex Index rose 0.4%, while Italy’s FTSE MIB Index climbed 0.2%. Meanwhile, the German DAX gained 0.1%, and the French CAC 40 rose 0.6%, while UK shares fell 0.03%.


The US Monthly Budget Statement for September will be released at 1:00 p.m. ET.


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