Midway through trading Tuesday, the Dow traded up 0.17 percent to 24,762.23 while the NASDAQ climbed 1.17 percent to 6,984.41.
The S&P also rose, gaining 0.58 percent to 2,689.15.
Leading and Lagging Sectors
On Tuesday, the basic materials sector proved to be a source of strength for the market. Leading the sector was strength from
AK Steel Holding Corporation (NYSE: AKS) and
Cleveland-Cliffs Inc (NYSE: CLF).
In trading on Tuesday, utilities shares fell 0.26 percent. Meanwhile, top losers in the sector included RGC Resources
Inc. (NASDAQ: RGCO), down 3 percent, and American
Water Works Company Inc (NYSE: AWK) down 2 percent.
Top Headline
Digital Power Corporation (NYSE: DPW) disclosed that
its subsidiary, CooliSys Technologies Inc., agreed to acquire Enertec from Micronet Enertec Technologies Inc (NASDAQ:
MICT) for $5.2 million in cash.
Equities Trading UP
Chanticleer Holdings Inc (NASDAQ: BURG) shares
shot up 43 percent to $3.76. Chanticleer Holdings announced plans to deploy Mobivity's blockchain technology to power
cryptocurrency rewards program.
Shares of Net Element International Inc (NASDAQ: NETE) got a boost, shooting up 24 percent to $13.74. Net Element said it has
finalized a $7.55-million private placement of common stock and warrants with a New York-based family office that has made multiple
investments in companies with a blockchain-focused technology platform.
Energous Corp (NASDAQ: WATT) shares were also up,
gaining 16 percent to $22.51.
Equities Trading DOWN
Weatherford International Plc (NYSE: WFT) shares
dropped 16 percent to $3.52 after rising 3.22 percent on Friday.
Shares of Koss Corporation (NASDAQ: KOSS) were
down 33 percent to $2.07 after surging 114.58 percent on Friday.
Merus NV (NASDAQ: MRUS) was down, falling around
17 percent to $16.01. RBC Capital downgraded Merus from Outperform to Sector Perform.
Commodities
In commodity news, oil traded down 0.17 percent to $60.32 while gold traded up 0.29 percent to $1,313.10.
Silver traded up 0.17 percent Tuesday to $17.175, while copper fell 0.79 percent to $3.2745.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.21 percent, the Spanish Ibex Index rose 0.35
percent, while Italy’s FTSE MIB Index fell 0.04 percent. Meanwhile the German DAX slipped 0.36 percent, and the French CAC 40 fell
0.45 percent while U.K. shares fell 0.52 percent.
Economics
The Markit manufacturing PMI rose to 55.10, versus previous reading of 55. However, economists projected a reading of 55.00.
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