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Midday Market Update

Stocks Higher as Oil Rises


U.S. Market    
Stocks were higher this morning as crude oil continued to rally.

Crude oil futures moved over $51 a barrel for the first time in 10 months after signs that inventories were down.

At midday the Dow was up 0.3% while the S&P 500 and Nasdaq were each 0.2% higher.

Stocks on the Move
Shares of  Lululemon (LULU) were up 1.4% this morning after the firm reported better-than-expected revenue as same-store sales rose 3% in the first-quarter. Earnings were also ahead of views. Management also slightly boosted full-year guidance but offered disappointing current-quarter guidance

Foreign Markets
European shares were mixed today. The FTSE 100 rose 0.3% while the Paris CAC and Germany’s DAX were down 0.6% and 0.7% respectively. 

Asian markets were also mixed. The Shanghai Composite was down 0.2%, the Hang Seng was off 0.1% while the Nikkei 225 gained 0.9%.

Jeremy Glaser does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.