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Toward the end of trading Tuesday, the Dow traded up 0.57 percent to 25,382.59 while the NASDAQ climbed 0.61 percent to 7,392.57. The S&P also rose, gaining 0.32 percent to 2,733.60.
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Tuesday afternoon, the information technology shares climbed 0.4 percent. Meanwhile, top gainers in the sector included Allot Ltd (NASDAQ:ALLT) up 9 percent, and Vishay Intertechnology (NYSE:VSH) up 8 percent.
In trading on Tuesday, financial shares fell 0.6 percent.
Top Headline
Archer Daniels Midland Co (NYSE:ADM) reported weaker-than-expected earnings for its fourth quarter.
Archer Daniels delivered earnings of $0.88 per share, missing estimates of $0.93 per share. The company’s revenue came in at $15.95 billion, versus estimates of $16.81 billion. Archer Daniels Midland raised its quarterly dividend from $0.335 to $0.35 per share.
Equities Trading UP
Amyris, Inc. (NASDAQ:AMRS) shares got a boost, shooting up 40 percent to $4.42 after the company announced a $255 million cannabinoid development, licensing, and commercialization agreement.
Shares of Mueller Industries, Inc. (NYSE:MLI) shot up 12 percent to $30.19 after the company posted upbeat Q4 results.
M/I Homes, Inc. (NYSE:MHO) shares were also up, gaining 14 percent to $29.28 following stronger-than-expected Q4 earnings.
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Equities Trading DOWN
Opko Health Inc. (NASDAQ:OPK) shares dropped 19 percent to $2.84 after the company announced a proposed offering of $200 million in convertible senior notes.
Shares of BioLineRx Ltd. (NASDAQ:BLRX) were down 40 percent to $0.44 after reporting a proposed underwritten public offering of its American Depositary Shares and warrants.
Control4 Corporation (NASDAQ:CTRL) was down, falling around 18 percent to $17.43 after the company reported Q4 sales of $72.487M versus the $73.16M estimate. The company also reported it sees Q1 EPS of $0.08 to $0.11 versus the $0.22 estimate.
Commodities
In commodity news, oil traded down 1.7 percent to $53.63 while gold traded down 0.05 percent to $1,318.70.
Silver traded down 0.29 percent Tuesday to $15.84, while copper rose 0.79 percent to $2.8165.
Eurozone
European shares closed higher today. The eurozone’s STOXX 600 gained 1.41 percent, the Spanish Ibex Index climbed 1.3 percent, while Italy’s FTSE MIB Index jumped 1.16 percent. Meanwhile the German DAX gained 1.71 percent, and the French CAC 40 gained 1.66 percent while U.K. shares rose 2.04 percent.
Economics
U.S. Markit composite PMI slipped to 54.40 for January, versus prior reading of 54.50. Economists expected a reading of 54.50. The Markit final services PMI was unchanged at 54.2 in January.
The ISM non-manufacturing composite index dropped to 56.70 in January, versus previous reading of 58.00. However, economists were projecting a reading of 57.20.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.