Midday Report: Manufacturing Activity Reaches Six-Year High; Lululemon Spikes

Wall Street kicked off the month with gains even after a weaker jobs report than anticipated.
By Keris Alison Lahiff ,

Wall Street kicked off the month with gains even after a weaker jobs report than anticipated. Gains for the S&P 500 would deliver it its sixth straight day in the green, while the Nasdaq could notch a record close for its second day in a row.

Consumer sentiment in August was not as strong as initially thought, according to a final reading from the University of Michigan. Views of current conditions fell, while expectations rose.

Manufacturing activity in the U.S. rose at a faster pace than anticipated in August. The ISM Manufacturing Index last month reached its highest level since April 2011.

Lululemon Athletica Inc. (LULU) - Get Report spiked after guiding for a positive full year. The sportswear brand anticipates full-year revenue of at least $2.5 billion, a surprise after weak spring sales made for conservative estimates.

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