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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.
Following the market opening Tuesday, the Dow traded up 0.45% to 26,016.17 while the NASDAQ rose 0.6% to 7,900.93. The S&P also rose, gaining 0.48% to 2,892.02.
Leading and Lagging Sectors
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Materials shares climbed 0.9% on Tuesday. Meanwhile, top gainers in the sector included Trinseo S.A. (NYSE:TSE), up 11%, and Myers Industries, Inc. (NYSE:MYE), up 6%.
In trading on Tuesday, financial shares fell 0.1%.
Top Headline
J M Smucker Co (NYSE:SJM) reported worse-than-expected first-quarter EPS and sales results. The company also cut fiscal year 2020 EPS guidance.
JM Smucker reported quarterly earnings of $1.58 per share, which missed the analyst consensus estimate of $1.74. The company reported quarterly sales of $1.779 billion, which missed the analyst consensus estimate of $1.87 billion.
J. M. Smucker cut fiscal year 2020 EPS guidance from $8.45-$8.65 to $8.35-$8.55 versus the $8.47 estimate.
Equities Trading UP
SilverSun Technologies, Inc. (NASDAQ:SSNT) shares shot up 109% to $5.32 after the company disclosed that its subsidiary, SWK Technologies, Inc., has sold its MAPADOC EDI division to SPS Commerce, Inc. (NASDAQ:SPSC),.
Shares of Ossen Innovation Co., Ltd. (NASDAQ:OSN) got a boost, shooting up 105% to $6.78 after the company reported financial results for the six months ended June 30, 2019.
Sears Hometown and Outlet Stores, Inc. (NASDAQ:SHOS) shares were also up, gaining 35% to $3.4452 after the company agreed to sell Outlet business as well as its Buddy's Home Furnishings Stores to Liberty Tax for $132.9 million.
Equities Trading DOWN
LAIX Inc. (NYSE:LAIX) shares tumbled 13% to $6.99 after the company reported Q2 results.
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Shares of GTT Communications, Inc. (NYSE:GTT) were down 10% to $8.12 after the company announced CFO departure.
The J. M. Smucker Company (NYSE:SJM) was down, falling 10% to $102.22 after the company reported worse-than-expected Q1 EPS and sales results. The company also cut FY20 EPS guidance.
Commodities
In commodity news, oil traded up 1.1% to $54.25, while gold traded up 0.2% to $1,540.60.
Silver traded up 1.2% Tuesday to $17.85, while copper rose 0.6% to $2.558.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.4%, the Spanish Ibex Index rose 0.7%, while Italy’s FTSE MIB Index climbed 1.2%. Meanwhile, the German DAX rose 0.5% and the French CAC 40 gained 0.3% while UK shares fell 0.1%.
Economics
The S&P Corelogic Case-Shiller home price index increased 2.1 percent year-over-year in June, versus a 2.4 percent rise in the prior month.
The FHFA house price index rose 0.2 percent versus a month earlier for June.
The Conference Board consumer confidence index dropped to 135.1 in August, compared to a revised reading of 135.8 in July.
The Richmond Fed Manufacturing Index rose to 1 in August, versus a prior reading of (12).
The Treasury is set to auction 2-year notes at 1:00 p.m. ET.
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.