Following the market opening Friday, the Dow traded up 0.56 percent to 25,716.89 while the NASDAQ climbed 0.24 percent to 7,229.41. The S&P also rose, gaining 0.32 percent to 2,776.32.
Leading and Lagging Sectors;
In trading on Friday, telecommunications services shares fell 0.13 percent. Meanwhile, top losers in the sector included B Communications Ltd BCOM 1.81%, down 4 percent, and China Unicom (Hong Kong) Limited (ADR) CHU 1.78% down 2 percent.
JPMorgan Chase & Co. JPM 1.05% reported better-than-expected earnings for its fourth quarter.
JPMorgan said it earned $1.76 per share in the quarter on revenue of $25.45 billion which exceeded Wall Street’s expectations for $1.69 per share and $25.15 billion.
Equities Trading UP;
SAExploration Holdings, Inc. SAEX 14.88% shares shot up 14 percent to $2.76 after the company disclosed that it has received around $15.7 million of additional Alaskan tax credit certificates.
Shares of Marathon Patent Group Inc MARA 14.41% got a boost, shooting up 14 percent to $4.39 after the company disclosed that its subsidiary Global Bit Ventures has acquired 1,300 cryptocurrency mining machines.
Tuniu Corp TOUR 10.92% shares were also up, gaining 10 percent to $8.36. Tuniu reported a $100 million share repurchase program and reported the promotion of Mr. Shihong Chen from Vice President to Chief Technology Officer, effective immediately.
Equities Trading DOWN;
Aradigm Corporation ARDM 33.92% shares dropped 29 percent to $2.43 after the company disclosed that the FDA Advisory Committee panel voted 12-3 against recommendation for Linhaliq. Aradigm shares dipped 46.49 percent to $1.83 in the after-hours trading session. Ladenburg Thalmann downgraded Aradigm from Buy to Neutral.
Shares of AquaBounty Technologies, Inc. AQB 37.45% were down 38 percent to $3.01 after the company reported a $12 million underwritten public offering.
Chinanet Online Holdings Inc CNET 20.92% was down, falling around 23 percent to $4.94. ChinaNet Online reported entry into agreements for registered direct placement of $11 million of common stock and warrants
In commodity news, oil traded down 1.07 percent to $63.12 while gold traded up 0.76 percent to $1,332.60.
Silver traded up 1.23 percent Friday to $17.175, while copper rose 0.09 percent to $3.236.
European shares were higher today. The eurozone’s STOXX 600 gained 0.05 percent, the Spanish Ibex Index rose 0.35 percent, while Italy’s FTSE MIB Index rose 0.51 percent. Meanwhile the German DAX declined 0.06 percent, and the French CAC 40 rose 0.23 percent while U.K. shares rose 0.25 percent.
U.S. retail sales rose 0.4 percent for December, versus economists’ expectations for a 0.4 percent growth.
The consumer price index gained 0.1 percent in December, versus economists’ expectations for a 0.1 percent rise.
U.S. business inventories gained 0.4 percent for November, versus economists’ estimates of a 0.3 percent growth
Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in Ivyland, Pennsylvania 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.
Boston Federal Reserve Bank President Eric Rosengren will speak in La Jolla, California at 4:15 p.m. ET.