Mid-Morning Market Update: Markets Mixed; Nike Sales Miss Views

Mid-Morning Market Update: Markets Mixed; Nike Sales Miss Views

Following the market opening Friday, the Dow traded up 0.15% to 34,817.63 while the NASDAQ fell 0.36% to 14,998.13. The S&P also rose, gaining 0.08% to 4,452.44.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 42,672,290 cases with around 684,350 deaths. India confirmed a total of at least 33,594,800 cases and 446,360 deaths, while Brazil reported over 21,308,170 COVID-19 cases with 592,960 deaths. In total, there were at least 230,637,880 cases of COVID-19 worldwide with more than 4,729,300 deaths, according to data compiled by Johns Hopkins University.


Leading and Lagging Sectors


Energy shares jumped 0.9% on Friday. Meanwhile, top gainers in the sector included Camber Energy, Inc. CEI, up 9% and Goodrich Petroleum Corporation GDP up 8%.


In trading on Friday, real estate shares fell 0.6%.


Top Headline

On Thursday, Nike Inc NKE reported better-than-expected earnings for its first quarter, while sales missed expectations. The company also lowered its sales forecast for the full year.


Equities Trading UP


ZIVO Bioscience, Inc. ZIVO shares shot up 91% to $6.60.


Shares of Unique Fabricating, Inc. UFAB got a boost, shooting 55% to $3.91. Form 4 filings from late Thursday showed stock purchases from multiple company’s Directors.


Meredith Corporation MDP shares were also up, gaining 27% to $56.81 following reports suggesting IAC/InterActiveCorp is in advanced talks to acquire the company in a deal valued at over $2.5 billion.


Check out these big movers of the day


Equities Trading DOWN

SecureWorks Corp. SCWX shares tumbled 21% to $21.11.

Shares of Helbiz, Inc. HLBZ were down 20% to $18.50. Helbiz announced its official arrival in California.

Onconova Therapeutics, Inc. ONTX was down, falling 18% to $4.1950. Onconova Therapeutics priced an underwritten public offering of 5 million shares at $4.20 for gross proceeds of $21 million.


Commodities


In commodity news, oil traded up 0.2% to $73.43, while gold traded up 0.3% to $1,755.30.


Silver traded up 0.1% Friday to $22.68 while copper fell 0.1% to $4.2305.


Euro zone

European shares were lower today. The eurozone’s STOXX 600 dropped 0.6%, the Spanish Ibex Index slipped 0.1% and the German DAX 30 dropped 0.6%. Meanwhile, the London’s FTSE 100 fell 0.2%, French CAC 40 fell 0.7% and Italy’s FTSE MIB declined 0.2%.

The United Kingdom’s GfK consumer confidence index fell to -13 for the month of September from -8 a month ago. Manufacturing confidence in Italy dropped to 113 in September from a revised level of 113.2 in August, while consumer confidence climbed to 119.6 from 116.2. The Ifo business climate indicator for Germany fell to 98.8 in September versus a revised reading of 99.6 in August.

Economics


New home sales surged 1.5% to an annual rate of 740,000 in August.


Federal Reserve Bank of Atlanta President Raphael Bostic will speak at 12:00 p.m. ET.


The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.

Check out the full economic calendar here

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