Market Overview

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Top Performing Industries For May 2, 2016

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At 10:30 am, the Dow rose 0.41 percent to 17,846.49, the broader Standard & Poor's 500 index moved up 0.43 percent to 2,074.23 and the NASDAQ composite index gained 0.24 percent to 4,786.81.

The industries that are driving the market today are:

Sporting Goods Stores: This industry gained 2.8 percent by 10:30 am. The top performer in this industry was Dicks Sporting Goods Inc (NYSE: DKS), which rose 4 percent. The Sports Authority [TSA] announced that it had decided against reorganizing, and would instead opt to liquidate. Deutsche Bank's Mike Baker said that the latest update from TSA is good news for Dicks Sporting, since the company may get the biggest share of the lost sales of approximately $2.6bn in total..

Building Materials Wholesale: This industry rose 2.3 percent by 10:30 am ET. The top performer in this industry was Louisiana-Pacific Corporation (NYSE: LPX), which gained 2.5 percent. Louisiana-Pacific is expected to announce its Q1 financial results on Monday, May 9, 2016.

Long Distance Carriers: The industry gained 1.7 percent by 10:30 am. The top performer in this industry was Elephant Talk Communications Corp (NYSE: ETAK), which gained 6.6 percent. Elephant Talk Communications shares have dropped 52.38 percent over the past 52 weeks, while the S&P 500 index has declined 2.04 percent in the same period.

Catalog & Mail Order Houses: This industry moved up 1.6 percent by 10:30 am. The top performer in this industry was Acorn International, Inc. (ADR) (NYSE: ATV), which rose 2.2 percent.

Posted-In: Top Performing IndustriesNews Intraday Update Markets Movers

 

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