Midway through trading Friday, the Dow traded down 1.13% to 33,440.28 while the NASDAQ fell 0.74% to 14,056.31. The S&P also fell, dropping 0.92% to 4,183.07.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,508,900 cases with around 600,930 deaths. India confirmed a total of at least 29,762,790 cases and 383,490 deaths, while Brazil reported over 17,702,630 COVID-19 cases with 496,000 deaths. In total, there were at least 177,465,600 cases of COVID-19 worldwide with more than 3,843,090 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Consumer discretionary shares slipped by just 0.4% on Friday. Meanwhile, top gainers in the sector included Afya Limited (NASDAQ:AFYA), up 1%, and Afya Limited (NASDAQ:ABNB), up 1%.

In trading on Friday, financial shares tumbled 1.9%.

Top Headline

Adobe Inc (NASDAQ:ADBE) reported upbeat results for its second quarter and issued strong guidance for the current quarter on Thursday.

Adobe reported quarterly earnings of $3.03 per share, exceeding analysts’ estimates of $2.81 per share. The company’s quarterly sales came in at $3.84 billion, topping expectations of $3.73 billion.

Adobe said it sees Q3 adjusted earnings of $3.00 per share, versus analysts’ estimates of $2.89 per share. The company projects sales of $3.88 billion, compared to expectations of $3.83 billion.

Equities Trading UP

CAI International, Inc. (NYSE:CAI) shares shot up 46% to $55.90 after the company agreed to be acquired by Mitsubishi HC Capital for $56 per share in cash.

Shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) got a boost, shooting 30% to $53.48 after the company announced it will be acquired by Sitel Group at a purchase price of $54 per share in cash.

Geron Corporation (NASDAQ:GERN) shares were also up, gaining 34% to $1.8962 after the company reported the publication of IMbark Phase 2 data in the Journal of Clinical Oncology.

Check out these big movers of the day

Equities Trading DOWN

Shares of Orphazyme A/S (NASDAQ:ORPH) were down 43% to $8.35 after the company announced it received a Complete Response Letter from the FDA for its treatment for Niemann-Pick Disease Type C and also cut its FY2021 outlook

Capstone Green Energy Corporation (NASDAQ:CGRN) was down, falling 22% to $5.71 after the company increased its earlier announced bought deal offering of common stock to $10.0 million.

Commodities

In commodity news, oil traded up 1.3% to $71.96, while gold traded up 0.1% to $1,777.10.

Silver traded up 0.9% Friday to $26.10 while copper fell 0.5% to $4.1560.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 1.6%, the Spanish Ibex Index fell 2% and the German DAX 30 fell 1.9%. Meanwhile, the London’s FTSE 100 fell 2%, French CAC 40 fell 1.5% and Italy’s FTSE MIB fell 1.8%.

Producer prices in Germany surged 7.2% year-over-year in May, recording the strongest growth since October 2008. UK’s retail sales fell 1.4% in May versus a 9.2% rise in April, while construction output in Italy rose 60.2% year-over-year in April. The Eurozone current account surplus increased to EUR 31.4 billion in April from EUR 12.1 billion in the year-ago month.

Economics

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

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