Following the market opening Tuesday, the Dow traded up 0.98 percent to 20,967.26 while the NASDAQ climbed 0.46 percent to
6,011.35. The S&P also rose, gaining 0.50 percent to 2,386.28.
Leading and Lagging Sectors
Tuesday morning, the financial sector proved to be a source of strength for the market. Leading the sector was strength from
Lakeland Financial Corporation (NASDAQ: LKFN) and
German American Bancorp., Inc. (NASDAQ: GABC).
In trading on Tuesday, utilities shares slipped by 0.1 percent. Meanwhile, top losers in the sector included Companhia de
Saneamento Basico (ADR) (NYSE: SBS), down 3 percent, and
Cia Energetica de Minas Gerais CEMIG-ADR (NYSE: CIG),
down 2 percent.
Top Headline
McDonald's Corporation (NYSE: MCD) reported better-than-expected
earnings for its first quarter on Tuesday.
McDonald's said it earned $1.47 per share in the quarter on revenue of $5.68 billion. Wall Street analysts were expecting the
company to earn $1.33 per share on revenue of $5.51 billion.
Equities Trading UP
Nord Anglia Education Inc (NASDAQ: NORD) shares
shot up 18 percent to $32.50 after the company agreed to be acquired for $32.50 per share in cash.
Shares of LSB Industries, Inc. (NYSE: LXU) got a
boost, shooting up 16 percent to $8.50. LSB Industries reported a Q1 loss of $0.48 per share on adjusted sales of $123.3
million.
Capricor Therapeutics Inc (NASDAQ: CAPR) shares
were also up, gaining 11 percent to $3.41 after the company issued a 'positive' Phase I/II HOPE trial update.
Equities Trading DOWN
ContraVir Pharmaceuticals Inc (NASDAQ: CTRV)
shares dropped 31 percent to $0.820. ContraVir Pharmaceuticals priced its 12 million share offering at $1 per share.
Shares of NGL Energy Partners LP (NYSE: NGL) were
down around 22 percent to $17.00. NGL Energy Partners declared a quarterly distribution of $0.39 per unit and revised its fiscal
year 2017 and fiscal year 2018 outlook.
Heidrick & Struggles International, Inc. (NASDAQ: HSII) was down, falling around 14 percent to $23.10 after the company reported
weaker-than-expected Q1 results.
Commodities
In commodity news, oil traded down 0.26 percent to $49.10 while gold traded down 0.70 percent to $1,268.50.
Silver traded down 0.99 percent Tuesday to $17.755, while copper rose 1.19 percent to $2.5955.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 gained 0.34 percent, the Spanish Ibex Index rose 0.23 percent, while
Italy’s FTSE MIB Index climbed 0.40 percent. Meanwhile the German DAX rose 0.11 percent, and the French CAC 40 climbed 0.30 percent
while U.K. shares rose 0.27 percent.
Economics
The Johnson Redbook Retail Sales Index rose 1.2 percent during the first three weeks of April versus March.
The S&P Corelogic Case-Shiller home price index rose 0.7 percent when seasonally adjusted for February, versus economists’
expectations for a 0.8 percent growth.
U.S. new home sales rose 5.8 percent to an annual rate of 621,000 for March. Economists were expecting a 583,000 rate.
The Conference Board’s Consumer Confidence Index declined to 120.30 in April, versus a previous reading of 125.60. Economists
projected a reading of 122.50.
The Richmond Fed's manufacturing index dropped to 20.00 in April, versus a prior reading of 22.00. However, economists expected
a reading of 16.00.
The Treasury is set to auction 4-and 52-week bills at 11:30 a.m. ET.
The Treasury will auction 2-year notes at 1:00 p.m. ET.
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