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. 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.