Following the market opening Tuesday, the Dow traded up 0.54 percent to 21,821.58 while the NASDAQ climbed 0.80 percent to
6,262.58. The S&P also rose, gaining 0.58 percent to 2,442.35.
Leading and Lagging Sectors
Tuesday morning, the basic materials shares climbed by 0.95 percent. Meanwhile, top gainers in the sector included Allegheny
Technologies Incorporated (NYSE: ATI), up 5 percent, and
Mechel PAO (ADR) (NYSE: MTL), up 5 percent.
In trading on Tuesday, utilities shares rose by just 0.1 percent. Meanwhile, top losers in the sector included Atlantic Power
Corp (NYSE: AT), down 2 percent, and SCANA
Corporation (NYSE: SCG) down 1 percent.
Top Headline
Toll Brothers Inc (NYSE: TOL) reported
stronger-than-expected profit for its third quarter, while revenue missed estimates
Toll Brothers posted quarterly earnings of $0.87 per share on revenue of $1.502 billion. However, analysts were expecting
earnings of $0.69 per share on revenue of $1.51 billion.
Equities Trading UP
Centrais Eletricas Brasileiras SA (ADR) (NYSE: EBR)
shares shot up 34 percent to $5.95 after the Brazil’s government proposed privatizing the company.
Shares of Kirkland's, Inc. (NASDAQ: KIRK) got a
boost, shooting up 25 percent to $10.49 after the company posted better-than-expected quarterly results.
DSW Inc. (NYSE: DSW) shares were also up, gaining 23
percent to $19.28 after the company reported better-than-expected Q2 earnings.
Equities Trading DOWN
Tarena International Inc(ADR) (NASDAQ: TEDU)
shares dropped 23 percent to $14.24. Tarena International reported Q2 earnings of RMB$1.00 per share on sales of RMB$455.83
million. Nomura downgraded Tarena from Buy to Neutral.
Shares of Momo Inc (ADR) (NASDAQ: MOMO) were down
16 percent to $38.04. Momo reported Q2 earnings of $0.35 per ADS on revenue of $312.22 million.
Cheetah Mobile Inc (ADR) (NYSE: CMCM) was down,
falling around 13 percent to $10.39. Cheetah Mobile posted Q2 adjusted earnings of $0.09 per share on revenue of $177.239
million.
Commodities
In commodity news, oil traded down 0.11 percent to $47.32 while gold traded down 0.41 percent to $1,291.40.
Silver traded up 0.09 percent Tuesday to $17.03, while copper fell 0.93 percent to $3.0295.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.56 percent, the Spanish Ibex Index rose 0.27
percent, while Italy’s FTSE MIB Index declined 0.40 percent. Meanwhile the German DAX climbed 0.96 percent, and the French CAC 40
gained 0.62 percent while U.K. shares rose 0.79 percent.
Economics
The Johnson Redbook Retail Sales Index declined 0.2 percent during the first three weeks in August versus July.
The FHFA house price index rose 6.5 percent year-over-year for June.
The Richmond Fed's manufacturing index came in at 14.00 for August, versus previous reading of 14.00. Economists expected a
reading of 12.00.
The Treasury is set to auction 4-week bills at 1:00 p.m. ET.
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