Toward the end of trading Friday, the Dow traded up 0.37 percent to 21,633.30 while the NASDAQ climbed 0.63 percent to 6,314.11.
The S&P also rose, gaining 0.49 percent to 2,459.82.
Leading and Lagging Sectors
Non-cyclical consumer goods & services shares rose by 1.05 percent in the US market on Friday.
In trading on Friday, financial shares fell 0.02 percent. Meanwhile, top losers in the sector included Enterprise Bancorp,
Inc (NASDAQ: EBTC), down 4 percent, and Donegal Group
Inc. (NASDAQ: DGICA), down 3 percent.
Top Headline
Citigroup Inc (NYSE: C) posted stronger-than-expected
earnings for its second quarter.
Citigroup posted quarterly earnings of $1.28 per share on revenue of $17.9 billion. However, analysts were expecting earnings of
$1.21 per share on sales of $17.4 billion.
Equities Trading UP
Celadon Group, Inc. (NYSE: CGI) shares shot up 28
percent to $3.00. Celadon Group announced the retirement of its CEO Paul Will and the company’s board named Paul C. Svindland as
replacement. Celadon also named lead independent director Michael Miller as Chairman of the Board.
Shares of Eiger Biopharmaceuticals Inc (NASDAQ: EIGR) got a boost, shooting up 35 percent to $10.08. BTIG Research initiated
coverage on Eiger BioPharmaceuticals with a Buy rating and a $32.00 price target.
Fifth Street Finance Corp. (NASDAQ: FSC) shares
were also up, gaining 14 percent to $5.34. Fifth Street Asset Management Inc (NASDAQ: FSAM) reported a deal for Oaktree to assume management of business development
units Fifth Street Finance and Fifth Street Senior Floating Rate Corp (NASDAQ: FSFR).
Equities Trading DOWN
Cyberark Software Ltd (NASDAQ: CYBR) shares
dropped 16 percent to $42.70 after the company lowered its guidance for the second quarter. CyberArk announced after Thursday's
market close that its second-quarter revenue will fall short of expectations. JP Morgan downgraded CyberArk from Overweight to
Neutral, while Deutsche Bank downgraded the stock from Buy to Hold.
Shares of Reed's, Inc. (NYSE: REED) were down 28
percent to $1.70 as the company reported Warrant Exercise Agreements resulting in a $1.6 million financing.
A10 Networks Inc (NYSE: ATEN) was down, falling
around 17 percent to $6.87 after the company reported disappointing preliminary results for its second quarter. KeyBanc
downgradedA10 Networks from Overweight to Sector Weight.
Commodities
In commodity news, oil traded up 1.00 percent to $46.54 while gold traded up 0.86 percent to $1,227.80.
Silver traded up 1.46 percent Friday to $15.92, while copper rose 1.07 percent to $2.69.
Eurozone
European shares closed mostly lower today. The eurozone’s STOXX 600 climbed 0.18 percent, the Spanish Ibex Index fell 0.03
percent, while Italy’s FTSE MIB Index declined 0.14 percent. Meanwhile the German DAX dropped 0.06 percent, and the French CAC 40
slipped 0.01 percent while U.K. shares fell 0.47 percent.
Economics
The Consumer Price Index was unchanged for June, versus economists’ expectations for a 0.1 percent gain.
U.S. retail sales dropped 0.2 percent for June, versus economists’ expectations for a 0.2 percent growth.
U.S. industrial production increased 0.4 percent for June.
U.S. business inventories gained 0.3 percent for May, versus economists’ expectations for a 0.3 percent gain
The University of Michigan's consumer sentiment index dropped to 93.10 in July, versus prior reading of 95.10. Economists
expected a reading of 95.00.
The total number of active U.S. oil rigs increased by 2 to 765 rigs this week, Baker Hughes Inc reported.
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