Michael Kors climbed 21.5 percent after the luxury handbag and apparel designer and retailer's latest quarterly results beat analysts' forecasts as sales improved.
On Thursday, New York Federal Reserve President William Dudley said he expects sluggish USA inflation to rise over the next several months while the hot labor market gets even hotter.
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South Korea's won currency KRW=KFTC dropped 0.9 percent against the dollar to its lowest close since July 13.
WALL STREET: Losses in health care and consumer-focused companies pulled US stocks lower, snapping a 10-day winning streak for the Dow Jones industrial average.
Copper lost 0.39 per cent to US$6,455.00 a tonne.
The Dow slid as declines in shares of Apple and those of Goldman Sachs, recently down 2.3 percent and 1.7 percent respectively, outweighed gains in shares of McDonald's and those of Coca-Cola, recently up 1.4 percent and 0.5 percent respectively. All the indexes are down for the week.
Benchmark 10-year notes last rose 5/32 in price to yield 2.2255 per cent, from 2.242 per cent late on Wednesday.
He said it is "a bullish sign that the equity markets are rebounding somewhat on a Friday, in spite of the fact that investors will need to wait for two days to react to any geopolitical news that comes out over the weekend".
"Corporate earnings can be easily overshadowed if there is a real threat of a conflict". The Nasdaq and the S&P 500 are rebounding after ending Thursday's trading at their lowest closing levels in a month.
Health care equipment and services company Henry Schein declined amid a broader slide by health care stocks. Regeneron Pharmaceuticals led the pack, adding $4.47, or 1 percent, to $474.15.
FINANCIALS FALLING: Several financial sector companies also helped pull down the market. Bank of New York Mellon slid 3.9 percent, while Citizens Financial Group shed 3.8 percent. The Swiss currency was also on track for its biggest daily gain against the euro since the Swiss National Bank removed its cap on the currency in January 2015.
SeaWorld Entertainment slid 6.2 percent after the theme park operator reported second-quarter revenue that fell short of Wall Street's expectations.
Avis Budget Group slumped 9.9 percent after the vehicle rental company cut its guidance following a weak second quarter.
"Although we certainly can get a 5 to 7 percent correction, we don't think it's the start of a significant bear market", Peterson noted.
The dollar weakened after news that US producer prices unexpectedly fell in July, recording their biggest drop in almost a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase.