Mid-afternoon market update: Dow tops 30,000; Goldfield shares spike higher


Toward the end of trading Tuesday, the Dow traded up 1.45% to 30,020 while the NASDAQ rose 1.27% to 12,032. The S&P also rose, gaining 1.53% to 3,632.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 12,421,990 cases with around 257,700 deaths. India confirmed a total of at least 9,177,840 confirmed cases and 134,210 deaths, while Brazil reported over 6,087,600 COVID-19 cases with 169,480 deaths. In total, there were at least 59,315,200 cases of COVID-19 worldwide with over 1,399,070 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares jumped 5.4% on Tuesday. Meanwhile, top gainers in the sector included Transocean LTD RIG 14.23%, up 20%, and Tellurian Inc. TELL 10.69%, up 17%.

In trading on Tuesday, health care shares rose by just 0.5%.

Top Headline

Dollar Tree, Inc. DLTR 11.98% reported stronger-than-expected results for its third quarter.

Dollar Tree posted quarterly earnings of $1.39 per share, surpassing analysts’ estimates of $1.15 per share. The company reported sales of $6.18 billion, exceeding expectations of $6.12 billion.

Equities Trading UP

Fuel Tech, Inc. FTEK 65.25% shares shot up 100% to $5.63 after jumping around 122% on Monday.

Shares of The Goldfield Corporation GV 64.66% got a boost, shooting 63% to $6.97 after the company announced it entered into a definitive agreement to be acquired by the first reserve for $7 per share in cash.

SPI Energy Co., Ltd. SPI 10.91% shares were also up, gaining 17% to $12.57 after the company announced Phoenix Motorcars deploys two electric shuttle buses to the city of Santa Cruz.

Equities Trading DOWN

Dycom Industries, Inc. DY 15.97% shares tumbled 17% to $65.09 after reporting weak quarterly sales.

Shares of iMedia Brands, Inc. IMBI 23.48% were down 23% to $5.98 after the company reported results for the third quarter.

Advaxis, Inc. ADXS 29.99% was down, falling 28% to $0.2815 after the company reported pricing of $8 million public offering.

Commodities

In commodity news, oil traded up 4.3% to $44.89, while gold traded down 1.9% to $1,803.60.

Silver traded down 1.6% Tuesday to $23.245 while copper rose 1.3% to $3.3005.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 rose 0.91%, the Spanish Ibex Index rose 2.03%, while Italy’s FTSE MIB Index jumped 2.04%. Meanwhile, the German DAX 30 climbed 1.26%, French CAC 40 climbed 1.21% and London’s FTSE 100 rose 1.55%.

German GDP grew by a record 8.5% in the third quarter, while French manufacturing climate indicator slipped to 92 in November versus a revised reading of 94 in October.

Economics

The S&P Corelogic Case-Shiller home price index increased 6.6% year-over-year in September versus a 5.3% rise in the prior month.

The FHFA house price index rose 1.7% in September.

The Conference Board’s consumer confidence index declined to 96.10 in November from prior reading of 100.90.

The Richmond Fed's manufacturing index dropped to 15.00 in November versus prior reading of 29.00.

Benzinga does not provide investment advice. All rights reserved.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD hits fresh one-month low amid souring market mood

EUR/USD has been extending its falls and dips below 1.21 as US retail sales badly disappointed and the worsening mood is supporting the safe-haven dollar. Markets digest Biden's stimulus plan. US Consumer Sentiment declined to 59.2 points. 

EUR/USD News

GBP/USD retreats toward 1.36 amid fresh dollar strength

GBP/US has pared its gains and falls toward 1.36 as the dollar gains ground. The UK economy shrank by 2.6% in November, better than estimated. The UK is ramping up its vaccination campaign and PM Johnson is pressured to ease the lockdown. 

GBP/USD News

Gold extends sideways grind near $1,850

The XAU/USD pair registered small daily gains on Thursday but struggled to extend its recovery amid a lack of significant fundamental drivers on Friday. As of writing, the pair was up 0.15% on a daily basis at $1,849.

Gold news

Forex Today: Markets “sell the fact” on Biden's stimulus, dollar rises, retail sales eyed

Markets are on the back foot after Biden hinted about tax hikes while introducing stimulus. The safe-haven dollar is edging higher despite Powell's pledge to keep monetary policy accommodative. 

Read more

DXY breaks above key downtrend, eyes move above 91.00

USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD pairs have seen significant weakness, aside from CHF/USD and JPY/USD, given that the two currencies are also considered “safe havens”.

US Dollar Index News

Forex Majors

Cryptocurrencies

Signatures