Dow Jones Rises, Oil Stumbles and Retailers Get Boost on Earnings

As U.S. oil prices continued to decline, the Dow Jones Industrial Average momentarily rose 250 points on Friday. After three days of extremely close closes, the stock market traded slightly lower for the week. As Foot Locker, Gap, and Ross Stores rose on earnings results ahead of the holiday season, retailers were encouraged by early trade.

At 10 a.m. ET, the National Association of Realtors released the existing home sales for October. According to predictions from Econoday, analysts predicted that sales would fall for the ninth consecutive month, to 4.36 million from 4.71 million in September. At 4.43 million, existing house sales exceeded expectations but were nonetheless down 5.9% from the previous month.

Applied Materials (AMAT), Foot Locker (FL), Gap (GPS), (JD), Palo Alto Networks (PANW), Ross Stores (ROST), and Williams-Sonoma were among the companies whose earnings to monitor on Friday morning (WSM).

The price of AMAT rose 4.5% in early trading. While GPS stock rose 9%, Foot Locker shares shot up 15%. Palo Alto Networks shares increased by about 9% while reversed dramatically negative. Ross Stores stock increased by over 16%. Additionally, WSM stock lost 8% in morning session.

Original article posted here.