Mid-Morning Market Update: Markets Rise; McDonald's Global Same-Store Sales Increase 1.9%
Following the market opening Tuesday, the Dow traded up 0.64 percent to 15,158.97 while the NASDAQ surged 0.50 percent to 3,724.72. The S&P also rose, gaining 0.59 percent to 1,681.53.
McDonald's (NYSE: MCD) reported a 1.9% rise in its global same-store sales in August.
Analysts were projecting same-store sales to rise 0.3%. McDonald's August system wide sales climbed 2.8%.
In Europe, McDonald's same-store sales gained 3.3%. However, same-store sales increased 0.2% in the US.
Palo Alto Networks (NYSE: PANW) was also up, gaining 3.50 percent to $48.48 on FQ4 results.
Equities Trading DOWN
Shares of Neurocrine Biosciences (NASDAQ: NBIX) were down 31.74 percent to $11.40 after the company reported Phase IIb results of VMAT2 Inhibitor NBI-98854 for treatment of tardive dyskinesia.
HD Supply Holdings (NASDAQ: HDS) shares tumbled 11.31 percent to $21.95 on Q2 results.
Urban Outfitters (NASDAQ: URBN) was down, falling 10.65 percent to $38.16. William Blair cut its Q3 earnings view for Urban Outfitters to 45c.
In commodity news, oil traded down 2.37 percent to $106.92, while gold traded down 2 percent to $1,358.90.
Silver traded down 3.55 percent Tuesday to $22.88, while copper rose 0.18 percent to $3.28.
European shares were higher today. The Spanish Ibex Index surged 1.77 percent, while Italy's FTSE MIB Index rose 0.60 percent. Meanwhile, the German DAX gained 2.01 percent and the French CAC 40 climbed 1.74 percent while U.K. shares rose 0.90 percent.
The Johnson Redbook Retail Sales Index rose 0.3% for the first week of September versus August.
The NFIB Small Business Optimism Index fell to 94.00 in August, from a prior reading of 94.10. However, economists were expecting a reading of 95.00.
The ICSC/Goldman Sachs Chain Stores Sales gained 1.5% in the week ended Saturday versus the previous week.
The Treasury is set to auction 4-week bills and 3-year notes.
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