Skip to main content

Market Overview

Mid-Morning Market Update: Markets Open Higher; Goldman Sachs Profit Tops Expectations

Share:

Following the market opening Tuesday, the Dow traded up 1.14 percent to 25,538.58 while the NASDAQ gained 1.15 percent to 7,516.01. The S&P also rose, gaining 1.03 percent to 2,779.10.

Leading and Lagging Sectors

Tuesday morning, the health care shares climbed 1.73 percent. Meanwhile, top gainers in the sector included AC Immune SA (NASDAQ: ACIU) up 8 percent, and Translate Bio Inc (NASDAQ: TBIO) up 9 percent.

In trading on Tuesday, financial shares rose by just 0.4 percent.

Top Headline

Goldman Sachs Group Inc (NYSE: GS) reported better-than-expected earnings for its third quarter.

Goldman Sachs posted quarterly earnings of $6.28 per share on revenue of $8.65 billion. However, analysts were expecting earnings of $5.38 per share on sales of $8.4 billion.

 

Equities Trading UP

Hanwha Q CELLS Co., Ltd. (NASDAQ: HQCL) shares shot up 17 percent to $9.68 after the company announced it would be acquired for $9.90 per share in cash by Hanwha Solar.

Shares of ENDRA Life Sciences Inc. (NASDAQ: NDRA) got a boost, shooting up 8 percent to $2.6995. ENDRA Life Sciences disclosed that it has received Health Canada approval to initiate human studies of its TAEUS(TM) device targeting Non-Alcoholic Fatty Liver Disease.

Fuwei Films (Holdings) Co., Ltd. (NASDAQ: FFHL) shares were also up, gaining 72 percent to $2.98 after reporting a 30 percent rise in polyester film order from a major customer for Q4'18.

Equities Trading DOWN

JELD-WEN Holding, Inc. (NYSE: JELD) shares dropped 20 percent to $17.10 after the company lowered its FY18 guidance and reported the departure of its CFO Brooks Mallard.

Shares of voxeljet AG (NASDAQ: VJET) were down 16 percent to $3.1392. voxeljet approved a capital increase of up to 1.1 million euro.

W.W. Grainger, Inc. (NYSE: GWW) was down, falling around 13 percent to $277.160. Grainger posted upbeat Q3 earnings, while sales missed estimates.

 

Commodities

In commodity news, oil traded down 0.56 percent to $71.38 while gold traded up 0.15 percent to $1,232.10.

Silver traded up 0.43 percent Tuesday to $14.79, while copper fell 0.14 to $2.7845.

Eurozone

European shares were higher today. The eurozone’s STOXX 600 gained 0.97 percent, the Spanish Ibex Index rose 1.29 percent, while Italy’s FTSE MIB Index climbed 1.2 percent. Meanwhile the German DAX climbed 0.72 percent, and the French CAC 40 rose 0.72 percent while U.K. shares rose 0.04 percent.

Economics

U.S. industrial production rose 0.3 percent for September, versus economists’ expectations for a 0.2 percent increase.

The NAHB housing market index rose to a reading of 68.00, versus a prior reading of 67.00. However, economists expected a reading of 68.00.

U.S. job openings climbed to 7.1 million for August, according to the Labor Department's JOLTS report.

The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.

The Treasury International Capital report for August is schedule for release at 4:00 p.m. ET.

 

Related Articles (FFHL + ACIU)

View Comments and Join the Discussion!

Posted-In: Mid-Morning Market UpdateNews Eurozone Commodities Global Intraday Update Markets

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com