Mid-Day Market Update: Dow Rises Over 350 Points; Hanwha Q CELLS Shares Spike Higher
|Midway through trading Tuesday, the Dow traded up 1.44 percent to 25,614.07 while the NASDAQ gained 1.86 percent to 7,568.98. The S&P also rose, gaining 1.47 percent to 2,791.24.
Leading and Lagging Sectors
On Tuesday, the health care shares climbed 2 percent. Meanwhile, top gainers in the sector included Guardant Health, Inc. GH 11.99% up 12 percent, and CryoLife, Inc. CRY 7.91% up 9 percent.
In trading on Tuesday, consumer staples shares rose by just 0.7 percent.
Top Headline
Goldman Sachs Group Inc BAC 1.2% reported better-than-expected earnings for its third quarter.
Goldman Sachs posted quarterly earnings of $6.28 per share on revenue of $8.65 billion. However, analysts were expecting earnings of $5.38 per share on sales of $8.4 billion.
Equities Trading UP
Hanwha Q CELLS Co., Ltd. HQCL 16.65% shares shot up 17 percent to $9.66 after the company announced it would be acquired for $9.90 per share in cash by Hanwha Solar.
Shares of Noodles & Company NDLS 16.45% got a boost, shooting up 14 percent to $13.02 after analysts at SunTrust Robinson Humphrey upgraded the stock from Neutral to Buy and raised the price target from $11 to $15.
Fuwei Films (Holdings) Co., Ltd. FFHL 67.75% shares were also up, gaining 70 percent to $2.94 after reporting a 30 percent rise in polyester film order from a major customer for Q4'18.
Equities Trading DOWN
JELD-WEN Holding, Inc. JELD 19.32% shares dropped 19 percent to $17.185 after the company lowered its FY18 guidance and reported the departure of its CFO Brooks Mallard.
Shares of voxeljet AG VJET 19% were down 19 percent to $3.0399. voxeljet approved a capital increase of up to 1.1 million euro.
Spero Therapeutics, Inc. SPRO 15.06% was down, falling around 18 percent to $7.97. Bank of America downgraded Spero Therapeutics from Neutral to Underperform and lowered the price target from $19 to $9.
Commodities
In commodity news, oil traded down 0.06 percent to $71.74 while gold traded up 0.10 percent to $1,231.50.
Silver traded up 0.12 percent Tuesday to $14.745, while copper fell 0.43 to $2.7765.
European shares were higher today. The eurozone’s STOXX 600 gained 1.49 percent, the Spanish Ibex Index rose 1.79 percent, while Italy’s FTSE MIB Index climbed 2.14 percent. Meanwhile the German DAX climbed 1.37 percent, and the French CAC 40 rose 1.49 percent while U.K. shares rose 0.38 percent.
Economics
U.S. industrial production rose 0.3 percent for September, versus economists’ expectations for a 0.2 percent increase.
The NAHB housing market index rose to a reading of 68.00, versus a prior reading of 67.00. However, economists expected a reading of 68.00.
U.S. job openings climbed to 7.1 million for August, according to the Labor Department's JOLTS report.
The Treasury International Capital report for August is schedule for release at 4:00 p.m. ET.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.