Following the market opening Friday, the Dow traded up 0.96% to 27944.81 while the NASDAQ rose 0.87% to 8645.26. The S&P also rose, gaining 0.86% to 3,144.15.
Leading and Lagging Sectors
Energy shares climbed 2.1% on Friday. Meanwhile, top gainers in the sector included Vista Oil & Gas, S.A.B. de C.V. VIST, up 9%, and Covia Holdings Corporation CVIA, up 10%.
In trading on Friday, utilities shares fell 0.1%.
Top Headline
Big Lots, Inc. BIG reported upbeat results for its third quarter.
Big Lots posted quarterly loss of $0.18 per share, beating analysts’ estimates for a loss of $0.20 per share. Its sales came in at $1.168 billion, versus estimates of $1.16 billion.
Big Lots said it expects FY19 adjusted EPS of $3.70-$3.85, versus analysts’ estimates of $3.80.
Equities Trading UP
Wellesley Bancorp, Inc. WEBK shares shot up 29% to $41.81. Cambridge Trust announced plans to acquire Wellesley Bank for $122 million.
Shares of Genesco Inc. GCO got a boost, shooting up 28% to $47.08 after the company reported better-than-expected Q3 EPS results. The company also issued FY20 EPS guidance above analyst estimates and Q3 comps up 3%.
Big Lots, Inc. BIG shares were also up, gaining 26% to $24.07 after the company reported better-than-expected Q3 EPS and sales results.
Equities Trading DOWN
Correvio Pharma Corp. CORV shares tumbled 36% to $1.3784.
Shares of Yext, Inc. YEXT were down 16% to $14.00 after the company reported worse-than-expected Q3 EPS results. The company also issued Q4 and FY20 EPS and sales guidance below analyst estimates.
PagerDuty, Inc. PD was down, falling 14% to $21.47 after the company reported worse-than-expected Q3 EPS results. The company also issued Q4 and FY20 EPS guidance below analyst estimates.
Commodities
In commodity news, oil traded down 0.6% to $58.08, while gold traded down 0.2% to $1,480.50.
Silver traded down 0.4% Friday to $17.00, while copper rose 0.3% to $17.00.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 0.5%, the Spanish Ibex Index rose 0.8%, while Italy’s FTSE MIB Index rose 0.2%. Meanwhile, the German DAX gained 0.3%, and the French CAC 40 rose 0.5% while UK shares rose 0.9%.
Economics
The nonfarm payroll number came in at +266,000, above consensus economist expectations of +187,000. The unemployment rate dropped from 3.6% to just 3.5%, its lowest level in 50 years.
The University of Michigan's consumer sentiment index climbed to 99.2 in December, compared to 96.8 in November.
U.S. wholesale inventories rose 0.1% in October, versus a revised 0.7% decline in the prior month.
The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
Data on consumer credit for October will be released at 3:00 p.m. ET.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.