Mid-Morning Market Update: Markets Surge On Jobs Data, Dow Breaks 15,000 for the First Time in History


Following the market opening Friday, the Dow traded up 1.01 percent to 14,981.68 while the NASDAQ surged 1.26 percent to 3,382.65. The S&P also rose, gaining 1.08 percent to 1,614.82.

Top Headline Yesterday, LinkedIn (NYSE: LNKD ) issued a downbeat revenue view for the second quarter.

LinkedIn posted its first-quarter earnings at $22.6 million, or $0.20 per share, versus $5 million, or $0.04 per share, in the year-ago period. Its adjusted earnings came in at $0.45 per share, beating analysts' estimates of $0.30 per share. Its revenue climbed 72% to around $325 million.

LinkedIn projected Q2 revenue of $342 million to $347 million, versus analysts' expectations of $360 million.

Equities Trading UP InvenSense (NYSE: INVN ) shot up 19.76 percent to $11.15 on upbeat Q4 results.

Shares of Blucora (NASDAQ: BCOR ) got a boost, shooting up 15.13 percent to $16.89 on Q1 results.

FleetCor Technologies (NYSE: FLT ) was also up, gaining 6.94 percent to $82.56 after the company reported strong Q1 results.

Equities Trading DOWN Arena Pharmaceuticals (NASDAQ: ARNA ) was down, falling 8.20 percent to $7.71 after the company reported disappointing 1Q results.

Shares of LinkedIn (NYSE: LNKD ) were down 8.26 percent to $185.02 after the company issued a downbeat revenue view for the second quarter..

Thoratec (NASDAQ: THOR ) shares tumbled 7.86 percent to $33.65 on downbeat Q1 profit.

Commodities In commodity news, oil traded up 1.22 percent to $95.14, while gold traded down 0.15 percent to $1,465.40.

Silver traded up 0.42 percent Friday to $23.93, while copper rose 5.73 percent to $3.28.

Eurozone European shares were higher following the revised EC growth forecasts. The European Commission has released its revised growth forecasts for 2013 and 2014 and now expects the eurozone to contract 0.4 percent this year before expanding 1.2 percent next year.

The Spanish Ibex Index gained 1.46 percent while the Italian FTSE MIB Index rose 0.56 percent. Meanwhile, the German DAX rose 1.42 percent while the French CAC 40 rose 1.25 percent and U.K. shares gained 1.04 percent.

Economics The US economy added 165,000 jobs in April. The unemployment rate declined to 7.5% in April, versus 7.6%. However, economists were projecting a 135,000 gain in jobs and unemployment rate to remain at 7.6%.

The ISM services index declined to 53.1 in April, versus 54.4 in March, missing economists' estimates of 53.7.

Factory orders dropped 4.00% in March. However, economists were expecting a 2.90% drop in orders.

The Fed's Daniel Tarullo and Jeffery Lacker are set to speak.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Profit with More New & Research . Gain access to a streaming platform with all the information you need to invest better today. Click here to start your 14 Day Trial of Benzinga Professional

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Commodities , Economy , International

Referenced Stocks: ARNA , FLT , INVN , LNKD , THOR


More from Benzinga:

Related Videos

Visualizing Healthcare MG
Visualizing Healthcare MG           
Power on/Power Off IPC
Power on/Power Off IPC              
Spot the Dropout RRC
Spot the Dropout RRC                
Power on/Power Off
Power on/Power Off                  



Most Active by Volume

  • $10.50 ▲ 3.04%
  • $29.22 ▲ 4.62%
  • $16.36 ▼ 0.49%
  • $113.29 ▲ 0.33%
  • $2.39 ▲ 4.82%
  • $5.78 ▲ 0.87%
  • $105.62 ▼ 0.02%
  • $28.42 ▲ 2.53%
As of 8/28/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com