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Mid-Morning Market Update: Markets Mixed; Nike Sales Miss Views

Following the market opening Friday, the Dow traded up 0.15% to 34,817.63 while the NASDAQ fell 0.36% to 14,998.13. The S&P also rose, gaining 0.08% to 4,452.44.

Benzinga · 09/24/2021 10:29

Following the market opening Friday, the Dow traded up 0.15% to 34,817.63 while the NASDAQ fell 0.36% to 14,998.13. The S&P also rose, gaining 0.08% to 4,452.44.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 42,672,290 cases with around 684,350 deaths. India confirmed a total of at least 33,594,800 cases and 446,360 deaths, while Brazil reported over 21,308,170 COVID-19 cases with 592,960 deaths. In total, there were at least 230,637,880 cases of COVID-19 worldwide with more than 4,729,300 deaths, according to data compiled by Johns Hopkins University.


Leading and Lagging Sectors


Energy shares jumped 0.9% on Friday. Meanwhile, top gainers in the sector included Camber Energy, Inc. (NYSE:CEI), up 9% and Goodrich Petroleum Corporation (NYSE:GDP) up 8%.


In trading on Friday, real estate shares fell 0.6%.


Top Headline

On Thursday, Nike Inc (NYSE:NKE) reported better-than-expected earnings for its first quarter, while sales missed expectations. The company also lowered its sales forecast for the full year.


Equities Trading UP


ZIVO Bioscience, Inc. (NASDAQ:ZIVO) shares shot up 91% to $6.60.


Shares of Unique Fabricating, Inc. (NASDAQ:UFAB) got a boost, shooting 55% to $3.91. Form 4 filings from late Thursday showed stock purchases from multiple company’s Directors.


Meredith Corporation (NYSE:MDP) shares were also up, gaining 27% to $56.81 following reports suggesting IAC/InterActiveCorp is in advanced talks to acquire the company in a deal valued at over $2.5 billion.


Check out these big movers of the day


Equities Trading DOWN

SecureWorks Corp. (NASDAQ:SCWX) shares tumbled 21% to $21.11.

Shares of Helbiz, Inc. (NASDAQ:HLBZ) were down 20% to $18.50. Helbiz announced its official arrival in California.

Onconova Therapeutics, Inc. (NASDAQ:ONTX) was down, falling 18% to $4.1950. Onconova Therapeutics priced an underwritten public offering of 5 million shares at $4.20 for gross proceeds of $21 million.


Commodities


In commodity news, oil traded up 0.2% to $73.43, while gold traded up 0.3% to $1,755.30.


Silver traded up 0.1% Friday to $22.68 while copper fell 0.1% to $4.2305.


Euro zone

European shares were lower today. The eurozone’s STOXX 600 dropped 0.6%, the Spanish Ibex Index slipped 0.1% and the German DAX 30 dropped 0.6%. Meanwhile, the London’s FTSE 100 fell 0.2%, French CAC 40 fell 0.7% and Italy’s FTSE MIB declined 0.2%.

The United Kingdom’s GfK consumer confidence index fell to -13 for the month of September from -8 a month ago. Manufacturing confidence in Italy dropped to 113 in September from a revised level of 113.2 in August, while consumer confidence climbed to 119.6 from 116.2. The Ifo business climate indicator for Germany fell to 98.8 in September versus a revised reading of 99.6 in August.

Economics


New home sales surged 1.5% to an annual rate of 740,000 in August.


Federal Reserve Bank of Atlanta President Raphael Bostic will speak at 12:00 p.m. ET.


The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.

Check out the full economic calendar here