Toward the end of trading Tuesday, the Dow traded up 0.75 percent to 18,230.04 while the NASDAQ climbed 0.90 percent to 5,304.81. The S&P also rose, gaining 0.63 percent to 2,159.54.
Leading and Lagging Sectors
Tuesday afternoon, technology shares gained 1.15 percent. Meanwhile, top gainers in the sector included SYNNEX Corporation SNX, and Bitauto Hldg Ltd (ADR) BITA.
In trading on Tuesday, utilities shares tumbled by 0.56 percent. Meanwhile, top losers in the sector included American Midstream Partners LP AMID, down 3 percent, and Pampa Energia S.A. (ADR) PAM, down 3 percent.
Top Headline
FactSet Research Systems Inc. FDS reported weaker-than-expected results for the fourth quarter.
The company reported adjusted net income of $68.61 million, or $1.69 a share, up from $63.25 million, or $1.48 a share, in the year-ago quarter. This is short by a penny from $1.70 EPS estimated by the Street.
FactSet delivered revenue of $287.29 million compared to $261.78 million representing an increase of 9.7 percent. However, this fell short of analysts' predictions of $290.43 million.
Equities Trading UP
EndoChoice Holdings Inc GI shares shot up 89 percent to $7.97 as the company agreed to be acquired by Boston Scientific Corporation BSX for $8 per share in cash.
Shares of SYNNEX Corporation SNX got a boost, shooting up 10 percent to $116.28 after the company reported upbeat earnings for its third quarter and issued a strong forecast for the current quarter. The company also raised its quarterly dividend by 25 percent, to $0.25 per share.
Kitov Pharmaceuticals Holdings Ltd (ADR) KTOV shares were also up, gaining 19 percent to $3.87 as the company reported successful results for additional KIT-302 pharmacokinetic bioequivalence study.
Equities Trading DOWN
Alliance One International, Inc. AOI shares dropped 11 percent to $19.14 after the company reported an offering of $275 million senior secured first lien notes due 2021.
Shares of Vanguard Natural Resources, LLC VNR were down 11 percent to $0.899. Hilliard Lyons downgraded Vanguard Natural from Buy to Neutral.
Caesars Entertainment Corp CZR was down, falling around 17 percent to $7.89 after announcing key economic terms of its proposed restructuring.
Commodities
In commodity news, oil traded down 3.09 percent to $44.51 while gold traded down 0.99 percent to $1,330.80.
Silver traded down 2.20 percent Tuesday to $19.17, while copper fell 1.14 percent to $2.17.
Eurozone
European shares closed mostly lower today. The eurozone’s STOXX 600 gained 0.06 percent, the Spanish Ibex Index fell 0.27 percent, while Italy’s FTSE MIB Index tumbled 0.36 percent. Meanwhile the German DAX declined 0.31 percent, and the French CAC 40 declined 0.21 percent while U.K. shares fell 0.15 percent.
Economics
The Johnson Redbook Retail Sales Index declined 0.5 percent during the first four weeks of September versus August.
The S&P/Case-Shiller home price index was unchanged in July. However, economists were expecting a 0.1 percent drop.
The Markit services PMI gained to 51.90 in September, versus a prior reading of 51.00. Economists projected a reading of 51.10.
The Conference Board’s Consumer Confidence Index increased to 104.10 in September, versus a prior reading of 101.10. Economists were expecting a reading of 99.00.
The Richmond Fed's manufacturing index rose to -8.00 in September, versus a previous reading of -11.00. Economists estimated a reading of -2.00.
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