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
Materials shares climbed 0.9% on Tuesday. Meanwhile, top gainers in the sector included Trinseo S.A. TSE, up 11%, and Myers Industries, Inc. MYE, up 6%.
In trading on Tuesday, financial shares fell 0.1%.
Top Headline
J M Smucker Co 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. 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. SPSC,.
Shares of Ossen Innovation Co., Ltd. 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. 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. LAIX shares tumbled 13% to $6.99 after the company reported Q2 results.
Shares of GTT Communications, Inc. GTT were down 10% to $8.12 after the company announced CFO departure.
The J. M. Smucker Company 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.
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