Market Overview

Mid-Morning Market Update: A Nation Votes, Markets Rise

Following the market opening Tuesday, the Dow traded up 0.56 percent to 13,186.19 while the NASDAQ fell 0.19 percent to 3,005.22. The S&P also rose, increasing 0.42 percent to 1,423.28.

Top Headline With the election fully underway, investors and voters alike are waiting with bated breath to see who the next president of the United States will be. The election lead to some caution in European markets, which is expected to abate once the election uncertainty begins to fade.

Equities Trading UP Jive Software (NASDAQ: JIVE) rose 19.64 percent to $13.40 after posting a slight earnings beat before the market opening Tuesday.

Shares of Weight watchers (NYSE: WTW) also saw a boost, rising 14.79 percent to $54.50 following its earnings beat after the close Monday.

Hasbro (NASDAQ: HAS) traded up as well, gaining 4.15 percent to $37.67 following a rumor that the company may be an acquisition target for Disney (NYSE: DIS).

Equities Trading DOWN ServiceSource (NASDAQ: SREV) plummeted 34.64 percent to $5.36 after the company cut its fiscal year outlook.

Zillow (NASDAQ: Z) also took a hit, falling 19.17 percent to $27.78 after the company posted earnings inline, but lowered its fourth-quarter sales guidance.

Shares of VIVUS (NASDAQ: VVUS) dropped 17.27 percent to $12.37 after the company missed on earnings before the market opening Tuesday.

Commodities In commodity news, oil traded up 1.13 percent to $86.62, while gold traded up 0.35 percent to $1,693.30.

Silver traded up 0.04 percent Tuesday to $31.17.

Eurozone European markets rallied in early trading as the eurozone services PMI missed expectations only slightly. Despite the market gains, uncertainty over Greece's austerity vote and the US presidential election sent the euro down.

In European economic releases, German factory orders came in well below the expected -0.5 percent at -3.3 percent.

Economics In economic releases, the ISM New York index came in at 45.9, significantly below the previous report of 52.9.

JOLTs Job Openings were also reported, coming in at 3.561 million, below the expected 3.65 million and the prior figure of 3.661 million.

Posted-In: Earnings News Guidance Rumors Commodities M&A Events Global Econ #s Economics Hot Intraday Update Markets Analyst Ratings Movers Tech Trading Ideas Best of Benzinga

 

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