Following the market opening Friday, the Dow traded up 0.43 percent to 24,613.96 while the NASDAQ climbed 0.45 percent to 6,887.58. The S&P also rose, gaining 0.52 percent to 2,665.81.
Leading and Lagging Sectors;
Friday morning, the consumer staples sector proved to be a source of strength for the market. Leading the sector was strength from Costco Wholesale Corporation COST 4.49% and Lifeway Foods, Inc. LWAY 3.23%.
In trading on Friday, information technology shares fell 0.02 percent.
Adobe Systems Incorporated ADBE 0.64% posted stronger-than-expected profit for its fourth quarter on Thursday.
Adobe reported Q4 adjusted earnings of $1.26 per share on revenue of $2.01 billion. Analysts expected earnings of $1.16 per share on revenue of $1.95 billion.
Adobe expects Q1 adjusted earnings of $1.27 per share on revenue of $2.04 billion.
Equities Trading UP;
ShiftPixy Inc PIXY 119.54% shares shot up 109 percent to $4.53 following Q4 earnings report. ShiftPixy reported sales of $20.244 million in the fourth quarter, up from $8.46 million year-over-year. The company sees first quarter gross billings of $40 million.
Shares of Longfin Corp LFIN 91.12% got a boost, shooting up 72 percent to $9.25 after the company announced agreement to acquire Ziddu.com.
TIGENIX/S ADR TIG 13.98% shares were also up, gaining 15 percent to $24.92. Takeda and TiGenix disclosed that Cx601 has received a positive CHMP opinion for treatment of complex perianal fistulas in Crohn’s disease. Mesoblast has granted Tigenix exclusive global patent license to use adipose-derived mesenchymal stem cells in local treatment of fistulae.
Equities Trading DOWN;
Verastem Inc VSTM 11.88% shares dropped 12 percent to $3.22. Verastem priced its $25 million common stock offering.
Shares of Rosetta Genomics Ltd. (USA) ROSG 8.98% were down 16 percent to $0.53 after the company agreed to be acquired by Genoptix for $10 million.
TrovaGene Inc TROV 43.31% was down, falling around 43 percent to $0.24. Trovagene priced its 15 million share common stock offering at $0.30 per share.
In commodity news, oil traded up 0.44 percent to $57.29 while gold traded up 0.47 percent to $1,263.00.
Silver traded up 1.04 percent Friday to $16.10, while copper rose 0.65 percent to $3.0925.
European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.31 percent, the Spanish Ibex Index fell 0.06 percent, while Italy’s FTSE MIB Index dipped 0.40 percent. Meanwhile the German DAX climbed 0.13 percent, and the French CAC 40 declined 0.16 percent while U.K. shares rose 0.28 percent.
The NY Empire State manufacturing index slipped to 18.00 for December, versus prior reading of 19.40. Economists expected a reading of 18.60.
U.S. industrial production gained 0.2 percent for November, versus economists’ expectations for a 0.3 percent growth.
The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
The Treasury International Capital data for October will be released at 4:00 p.m. ET.