This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Stock Market Today: Markets Bounce Back, Show Resilience

NEW YORK (TheStreet) -- The S&P 500 rebounded to a weekly gain on Friday, after some positive news out of Russia and decent second-quarter earnings deflected from tensions in Middle East.

After a choppy trading week mired by geopolitical worries, the S&P 500 managed to end about a third of a percentage point higher. The index rose 1.15% to 1,931.59 on the day.  All 10 sectors finished higher. The Dow Jones Industrial Average bounced back by 1.13% to 16,553.93. The Nasdaq advanced 0.83% to 4,370.90.

Read More: U.S. Launches Air Strikes in Iraq 

McDonald's  (MCD) crawled higher to $93.55 even after its July same-store sales declined 2.5%.

Russia said late Friday that it was ending military drills near the Ukrainian border, a refreshing headline after trade wars escalated between Russia and the West. Thomson Reuters reported that 67% of the 443 companies in the S&P 500 that have reported second-quarter earnings have beat expectations, vs. 63% in a typical quarter since 1994. The U.S. has reportedly launched another round of airstrikes against extremist militants who have seized Iraq's largest dam and have threatened the lives of Americans and citizens across the country.

The Labor Department said Friday that U.S. workers were more productive in the second quarter and labor costs rose slightly, a sharp turnaround from grim first-quarter figures. The Commerce Department said wholesale inventories rose 0.3% in June, the same as in May.

Read More: Why Nvidia (NVDA) Stock Continues To Climb Today

In individual company news, Lululemon Athletica (LULU) founder Dennis "Chip" Wilson said he was selling half of his stock to private-equity firm Advent International. Lululemon rose 2.77% to $40.11. Zynga (ZNGA) slipped 1.37% to $2.88 after the online game maker reported on Thursday a wider second-quarter loss and its revenue forecast fell short of analysts' estimates. CBS (CBS) rose 4.09% to $59.23 after reporting second-quarter earnings of $439 million, or 76 cents a share, from $472 million, or 76 cents a share, in the year-earlier period.

Shares of Nvidia Corp.  (NVDA) were up 8.82% to $19 after the graphics chips maker reported revenue for the second quarter of $1.10 billion, up 13% from $977 million a year earlier and in line with the previous quarter.

Read More: Aug. 8 Premarket Briefing: 10 Things You Should Know 

 

--By Andrea Tse in New York

Follow @AndreaTTse

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,321.67 +55.68 0.32%
S&P 500 2,016.60 +5.24 0.26%
NASDAQ 4,605.9620 +12.5370 0.27%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs