Stocks in the U.S. were trading higher at the midday mark, with notable gains seen in the Nasdaq Composite which surged over 1% on Friday. The Dow increased by 0.55% to 48,216.43, the NASDAQ rose to 23,260.50, a jump of 1.10%, and the S&P 500 also saw a rise of 0.83% to reach 6,830.85. Information technology shares witnessed a significant increase of 1.6% on Friday while consumer staples stocks experienced a decrease of 0.4%. A key highlight was Nike Inc. (NYSE: NKE) shares dropping by approximately 10% after reporting strong earnings and sales for Q2 but noting a decline in gross margins for the second consecutive quarter. Nike achieved revenue of $12.43 billion in the second quarter, surpassing analyst projections of $12.22 billion. For more details, the complete article can be accessed on Benzinga.com.