Dow Rises Over 100 Points; Lululemon Posts Upbeat Q3 Earnings

U.S. stocks traded mixed this morning, with the Dow Jones index gaining more than 100 points on Friday.

Following the market opening Friday, the Dow traded up 0.24% to 48,819.22 while the NASDAQ fell 0.34% to 23,514.76. The S&P 500 also fell, dropping, 0.13% to 6,892.15.

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Leading and Lagging Sectors

Materials shares jumped by 0.9% on Friday.

In trading on Friday, information technology stocks fell by 0.9%.

Top Headline

Lululemon Athletica Inc. (NASDAQ:LULU) posted better-than-expected results for the third quarter and raised its full-year guidance on Thursday.

Lululemon reported quarterly earnings of $2.59 per share, which beat the analyst estimate of $2.27 by 14.15%, according to data from Benzinga Pro. Quarterly revenue of $2.57 billion beat the Street estimate of $2.48 billion and was up from revenue of $2.4 billion from the same period last year.

Equities Trading UP
           

• cbdMD Inc (NYSE:YCBD) shares shot up 101% to $1.26 after the company announced it had regained full compliance with NYSE American listing standards.
• Shares of Akanda Corp (NASDAQ:AKAN) got a boost, surging 42% to $1.12. Shares of cannabis-linked stocks traded higher following a report suggesting that President Trump is expected to reclassify marijuana as a Schedule III drug.
• Zedge Inc (NYSE:ZDGE) shares were also up, gaining 33% to $3.24 r after the company reported better-than-expected quarterly financial results.

Equities Trading DOWN

• Applied Therapeutics Inc (NASDAQ:APLT) shares dropped 48% to $0.11 after Cycle Pharmaceuticals announced plans to acquire the company.
• Shares of Fermi Inc (NASDAQ:FRMI) were down 40% to $9.19 after First Tenant notified the company that it is terminating the AICA.
• Tenaya Therapeutics Inc (NASDAQ:TNYA) was down, falling 29% to $0.97 after the company announced the pricing of a $60 million public offering of 50 million units at $1.20 per unit.

Commodities

In commodity news, oil traded down 0.2% to $57.49 while gold traded up 1.5% at $4,376.20.

Silver traded up 0.5% to $64.895 on Friday, while copper rose 0.2% to $5.5095.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.2%, while Spain’s IBEX 35 Index rose 0.7%. London’s FTSE 100 fell 0.1%, Germany’s DAX 40 rose 0.3% and France’s CAC 40 surged 0.6% during the session.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan’s Nikkei gaining 1.37%, Hong Kong’s Hang Seng surging 1.75%, China’s Shanghai Composite rising 0.41% and India’s BSE Sensex gaining 0.53%.

Economics

The Baker Hughes oil rig count report will be released today.

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