Mid-Afternoon Market Update: Dow Jumps Over 150 Points; Steelcase Shares Dip Following Weak Results

Toward the end of trading Tuesday, the Dow traded up 0.90 percent to 17,407.65 while the NASDAQ climbed 0.56 percent to 4,996.91. The S&P also rose, gaining 0.79 percent to 2,037.05.

On Tuesday, basic materials shares surged by 1.74 percent. Top gainers in the sector included

,

, and

. In trading on Tuesday, healthcare shares gained by just 0.29 percent. Meanwhile, top losers in the sector included

, down 7 percent, and

, down 6 percent.

reported better-than-expected earnings for its fiscal second quarter, but the company's sales missed analysts' estimates. The company posted quarterly net income of $154.9 million, or $0.35 per share, compared to $10 million, or $0.02 per share, in the year-ago quarter. On an adjusted basis, the company's adjusted earnings came in at $0.71 per share. Its sales dropped 1.4 percent to $3.09 billion. Analysts were expecting earnings of $0.60 per share on revenue of $3.34 billion.

shares shot up 27 percent to $4.68 after the company reported that Medidur has met primary efficacy endpoint in Phase 3 trial. Shares of

got a boost, shooting up 6 percent to $14.34. Canaccord Genuity initiated coverage on Karyopharm Therapeutics with a Buy rating.

shares were also up, gaining 2 percent to $90.90 after the company reported better-than-expected earnings for its fiscal second quarter and lifted its forecast for the fiscal year.

shares tumbled 23 percent to $14.58 after the company reported downbeat results for the third quarter and issued a weak forecast for the current quarter. Shares of

were down 4 percent to $26.45. NetApp announced plans to acquire SolidFire for $870 million in cash. RBC Capital downgraded NetApp from Outperform to Sector Perform.

was down, falling 5 percent to $497.82. JPMorgan downgraded the rating on Chipotle Mexican Grill to Neutral, with a price target of $555.

In commodity news, oil traded up 0.89 percent to $36.13, while gold traded down 0.72 percent to $1,072.80. Silver traded down 0.24 percent Tuesday to $14.28, while copper fell 1.33 percent to $2.11.

European shares closed mixed today. The eurozone's STOXX 600 fell 0.08 percent, the Spanish Ibex Index jumped 0.53 percent, while Italy's FTSE MIB Index dropped 0.19 percent. Meanwhile, the German DAX slipped 0.09 percent, and the French CAC 40 gained 0.05 percent, while U.K. shares rose 0.80 percent.

US gross domestic product climbed at an annual pace of 2 percent in the third quarter, versus economists' expectations for a 1.9 percent growth. The FHFA House Price Index rose 0.50 percent in October, versus economists' expectations for a 0.40 percent growth. Sales of existing homes dropped 10.5 percent at an annual rate of 4.76 million in November.