Following the market opening Tuesday, the Dow traded up 0.19 percent to 19,971.67 while the NASDAQ rose 0.80 percent to 5,506.24. The S&P also rose, gaining 0.41 percent to 2,273.14.
Leading and Lagging Sectors
Basic materials shares gained around 0.76 percent in trading on Tuesday. Meanwhile, top gainers in the sector included Northern Dynasty Minerals Ltd NAK, and Gerdau SA (ADR) GGB.
In trading on Tuesday, utilities shares slipped by 0.13 percent. Meanwhile, top losers in the sector included Pampa Energia S.A. (ADR) PAM, down 4 percent, and Atlantic Power Corp AT, down 2 percent.
Top Headline
Groupe Casino has offered to purchase all outstanding ordinary shares of Cnova NV CNV for $5.50 per share in cash.
Equities Trading UP
Capnia Inc CAPN shares shot up 30 percent to $1.05 after the company reported a merger with privately-held Essentialis, Inc.
Shares of Ionis Pharmaceuticals Inc IONS got a boost, shooting up 6 percent to $56.36 after the company disclosed that the FDA has approved Spinraza to treat spinal muscular atrophy.
ENGlobal Corp ENG shares were also up, gaining 10 percent to $2.12.
Equities Trading DOWN
Seattle Genetics, Inc. SGEN shares dropped 13 percent to $53.55 after the company reported a clinical hold on several Phase 1 trials of vadastuximab talirine.
Shares of Endologix, Inc. ELGX were down around 15 percent to $6.10 after the company reported a temporary hold on AFX® Endovascular AAA System to resolve a manufacturing issue.
Amphastar Pharmaceuticals Inc AMPH was down, falling around 7 percent to $19.05. Amphastar Pharmaceuticals disclosed that it has received a Complete Response Letter from the FDA indicating that the company should conduct Human Factor validation study and make label changes.
Commodities
In commodity news, oil traded up 0.47 percent to $53.27 while gold traded up 0.75 percent to $1,142.10.
Silver traded up 1.37 percent Tuesday to $15.98, while copper rose 0.20 percent to $2.48.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.14 percent, the Spanish Ibex Index slipped 0.04 percent, while Italy’s FTSE MIB Index gained 0.06 percent. Meanwhile the German DAX rose 0.12 percent, and the French CAC 40 gained 0.15 percent while U.K. shares rose 0.06 percent.
Economics
The S&P Corelogic Case-Shiller home price index increased 5.1 percent year-over-year in October, versus a revised 5 percent growth in September. On the month the Case-Shiller's 20-City Home Price Index increased 0.1 percent.
The Conference Board's consumer confidence index climbed to 113.70 for December, versus a prior reading of 107.10. Economists expected a reading of 108.10.
The Richmond Fed manufacturing index rose to 12.00 in December, versus a prior reading of 1.00.
The Dallas Fed Manufacturing index for December is schedule for release at 10:30 a.m. ET.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
