Midway through trading Tuesday, the Dow traded up 0.28 percent to 19,855.57 while the NASDAQ climbed 0.28 percent to 5,568.25.
The S&P also rose, gaining 0.30 percent to 2,271.95.
Leading and Lagging Sectors
Basic materials shares gained around 1.88 percent in trading on Tuesday. Meanwhile, top gainers in the sector included
Allegheny Technologies Incorporated (NYSE: ATI), and
Northern Dynasty Minerals Ltd (NYSE: NAK).
In trading on Tuesday, telecommunications services shares slipped by 1.57 percent. Meanwhile, top losers in the sector included
BT Group plc (ADR) (NYSE: BT), down 21 percent, and
Internet Initiative Japan Inc. (ADR) (NASDAQ: IIJI),
down 6 percent.
Top Headline
Verizon Communications Inc. (NYSE: VZ) reported
lower-than-expected earnings for its fourth quarter as competitive pressures from T-Mobile US Inc (NASDAQ: TMUS) and Sprint Corp (NYSE: S) have weighed on wireless revenues.
Verizon reported Q4 earnings of $0.86 per share on revenue of $32.3 billion. Analysts were expecting earnings of $0.89 per share
on revenue of $32.08 billion.
Equities Trading UP
GenVec Inc (NASDAQ: GNVC) shares shot up 41
percent to $6.40 after Intrexon Corp (NYSE: XON)
announced plans to buy GenVec at $7 per share.
Shares of Multi Packaging Solutions Intrntnl Ltd (NYSE: MPSX) got a boost, shooting up 24 percent to $17.78 after WestRock Co (NYSE:
WRK) agreed to acquire the company for $18.00 per share.
Allegheny Technologies Incorporated (NYSE: ATI)
shares were also up, gaining 22 percent to $20.79 after the company reported a narrower-than-expected Q4 loss.
Equities Trading DOWN
BT Group plc (ADR) (NYSE: BT) shares dropped 21
percent to $19.38 after the company lowered its 2017 and 2018 guidance due to Italian accounting errors.
Shares of Bioamber Inc (NYSE: BIOA) were down around
17 percent to $4.35. BioAmber increased its previously reported public offering to US$17.5 million.
Ocular Therapeutix Inc (NASDAQ: OCUL) was down,
falling around 12 percent to $6.65. Ocular Therapeutic priced 3.5 million shares at $7 per share.
Commodities
In commodity news, oil traded up 1.16 percent to $53.36 while gold traded down 0.23 percent to $1,215.70.
Silver traded down 0.06 percent Tuesday to $17.18, while copper rose 2.06 percent to $2.70.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 gained 0.15 percent, the Spanish Ibex Index rose 0.65 percent, while
Italy’s FTSE MIB Index climbed 0.86 percent. Meanwhile the German DAX gained 0.30 percent, and the French CAC 40 rose 0.02 percent
while U.K. shares rose 0.02 percent.
Economics
The Johnson Redbook Retail Sales Index rose 0.5 percent year-over-year for the first three weeks of January.
The Markit manufacturing PMI rose to 55.10 for January, versus a prior reading of 54.30. Analysts projected a reading of
54.50.
Sales of existing home sales dropped 2.8 percent in December at an annual pace of 5.49 million. Economists were expecting a rate
of 5.5 million.
The Richmond Fed manufacturing index gained to 12.00 for January, versus a prior reading of 8.00. Economists expected a reading
of 7.00.
The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
The Treasury will also auction 2-year notes at 1:00 p.m. ET.
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