Midway through trading Friday, the Dow traded down 0.11 percent to 20,895.80 while the NASDAQ declined 0.03 percent to 6,114.21.
The S&P also fell, dropping 0.19 percent to 2,389.83.
Leading and Lagging Sectors
Utilities sector was the top gainer in the US market on Friday. Top gainers in the sector included Companhia de Saneamento
Basico (ADR) (NYSE: SBS), Companhia Paranaense de
Energia (ADR) (NYSE: ELP), and Cia Energetica de Minas
Gerais CEMIG-ADR (NYSE: CIG).
In trading on Friday, industrial shares were relative laggards, down on the day by about 0.54 percent. Meanwhile, top losers in
the sector included CDI Corp. (NYSE: CDI), down 7
percent, and DryShips Inc. (NASDAQ: DRYS), down 7
percent.
Top Headline
J C Penney Company Inc (NYSE: JCP) reported mixed
results for its first quarter on Friday.
JC Penney said it earned $0.06 per share in the first quarter on revenue of $2.7 billion (versus $2.8 billion a year ago). Wall
Street analysts were expecting the retailer to lose $0.21 per share on revenue of $2.77 billion. Comparable store sales for the
quarter fell 3.5 percent, yet net income improved by $116 million from a year ago to a net loss of $97 million per share.
Equities Trading UP
Trade Desk Inc (NASDAQ: TTD) shares shot up 25
percent to $49.76 after the company reported a profit in its first quarter on Thursday. The company posted quarterly earnings of
$4.9 million, or $0.11 per share, versus a year-ago loss of $1 million, or $4.45 per share.
Shares of Technical Communications Corporation (NASDAQ: TCCO) got a boost, shooting up 29 percent to $3.12. Technical Communications
reported quarterly earnings of $0.07 per share on revenue of $1.38 million.
Reliv International, Inc (NASDAQ: RELV) shares
were also up, gaining 12 percent to $7.15. Reliv International reported Q1 earnings of $0.28 per share on sales of $12.77
million.
Equities Trading DOWN
Capricor Therapeutics Inc (NASDAQ: CAPR) shares
dropped 59 percent to $1.24 after the company issued an update on Allstar trial. The company disclosed that Allstar trial is
unlikely to achieve primary efficacy endpoint of change in infarct size in patients following heart attack.
Shares of Ardelyx Inc (NASDAQ: ARDX) were down
around 33 percent to $8.23. Ardelyx reported that its Phase 3 T3MPO-1 trial of Tenapanor in patients with IBS-C achieved primary
endpoint.
Inpixon (NASDAQ: INPX) was down, falling around 25
percent to $2.42. Inpixon reported a Q1 loss of $2.03 per share on sales of $13.5 million. B. Riley downgraded Inpixon from Buy to
Neutral.
Commodities
In commodity news, oil traded down 0.92 percent to $47.39 while gold traded up 0.46 percent to $1,229.80.
Silver traded up 0.89 percent Friday to $16.41, while copper rose 0.46 percent to $2.5195.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.03 percent, the Spanish Ibex Index fell 0.01 percent,
while Italy’s FTSE MIB Index climbed 0.07 percent. Meanwhile the German DAX climbed 0.16 percent, and the French CAC 40 surged 0.06
percent while U.K. shares rose 0.38 percent.
Economics
The Consumer Price Index increased 0.2 percent for April, versus a 0.3 percent decline in the previous month.
U.S. retail sales rose 0.4 percent for April, versus economists’ expectations for a 0.6 percent growth.
U.S. business inventories increased 0.2 percent for March, beating economists’ expectations for a 0.1 percent gain.
The University of Michigan's consumer sentiment index climbed to 97.7 in May, versus a reading of 97.0 in April. Economists
expected a reading of 97 for the month.
Philadelphia Federal Reserve Bank President Patrick T. Harker is set to speak in Philadelphia at 12:30 p.m. ET.
The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
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