Following the market opening Tuesday, the Dow traded up 0.92 percent to 25,287.81 while the NASDAQ climbed 1.06 percent to 7,384.94. The S&P also rose, gaining 0.90 percent to 2,734.13.
Leading and Lagging Sectors
Tuesday morning, the financial shares climbed 1.5 percent. Meanwhile, top gainers in the sector included OneMain Holdings Inc OMF up 11 percent, and Brighthouse Financial Inc BHF up 12 percent.
In trading on Tuesday, real estate shares fell 0.6 percent.
Top Headline
US Foods Holding Corp USFD reported downbeat earnings for its fourth quarter, while sales exceeded views.
US Foods earned $0.56 cents per share in the fourth quarter on revenue of $6 billion. However, analysts were expecting the company to earn $0.59 per share on revenue of $5.97 billion.
US Foods Holding expects FY19 adjusted earnings of $2.15 to $2.25 per share and adjusted EBITDA growth of at least 5 percent.
Equities Trading UP
Ellie Mae Inc ELLI shares got a boost, shooting up 21 percent to $99.45 after the company announced it will be acquired by private equity firm Thoma Bravo for $99 per share.
Shares of Mimecast Ltd MIME shot up 19 percent to $51.05 after reporting upbeat Q3 results. The company also issued Q4 sales guidance above analyst estimates.
Coty Inc COTY shares were also up, gaining 13 percent to $10.95 after JAB proposed a partial tender offer to acquire additional shares at $11.65 per share in cash.
Equities Trading DOWN
Bristow Group Inc BRS shares dropped 32 percent to $2.11 after the company terminated its planned acquisition of Columbia Helicopters and reported soft Q3 results. Bristow will pay a $20 million fee as a result of the merger termination.
Shares of Varonis Systems Inc VRNS were down 17 percent to $53.29 after the company issued weak guidance.
Multi-Color Corporation LABL was down, falling around 17 percent to $42.21 after the company reported downbeat Q3 results. The company also issued FY19 EPS guidance below analyst estimates.
Commodities
In commodity news, oil traded up 2.3 percent to $53.60 while gold traded up 0.32 percent to $1,316.10.
Silver traded up 0.41 percent Tuesday to $15.755, while copper fell 0.6 percent to $2.7735.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 climbed 0.39 percent, the Spanish Ibex Index rose 0.79 percent, while Italy’s FTSE MIB Index surged 1.07 percent. Meanwhile the German DAX climbed 1.05 percent, and the French CAC 40 surged 0.85 percent while U.K. shares fell 0.02 percent.
Economics
The NFIB small business optimism index declined 3.2 points to a reading of 101.2 for January.
The Johnson Redbook Retail Sales Index fell 1.8 percent during the first week of February versus January.
U.S. job openings increased to 7.34 million in December, according to the Labor Department's JOLTS report.
Federal Reserve Chairman Jerome Powell is set to speak at Mississippi Valley State University at Itta Bena, Mississippi at 12:45 p.m. ET.
Kansas City Federal Reserve Bank President Esther George will speak in Kansas City at 5:30 p.m. ET.
Cleveland Federal Reserve Bank President Loretta Mester is set to speak in Cincinnati, OH at 6:30 p.m. ET.
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