Market Overview

NASDAQ Rises 1.5%; Domino's Shares Surge On Upbeat Earnings

Share:
NASDAQ Rises 1.5%; Domino's Shares Surge On Upbeat Earnings

Midway through trading Tuesday, the Dow traded up 0.80 percent to 16,450.98 while the NASDAQ surged 1.50 percent to 4,276.63. The S&P also rose, gaining 1.14 percent to 1,896.17.

Leading and Lagging Sectors

In trading on Tuesday, basic materials shares were relative leaders, up on the day by about 1.93 percent. Top gainers in the sector included AuRico Gold (NYSE: AUQ), Cliffs Natural Resources (NYSE: CLF), and Hecla Mining Co (NYSE: HL).

Telecommunications services shares rose by just 0.54 percent on Tuesday. Top losers in the sector included ARC Group Worldwide (NASDAQ: ARCW), down 3.7 percent, and SK Telecom Co (NYSE: SKM), off 2.5 percent.

Top Headline

Citigroup (NYSE: C) reported upbeat earnings for the third quarter.

The New York-based company reported quarterly net income of $3.44 billion, or $1.07 per share, up from $3.23 billion, or $1 per share, in the year-ago period. Excluding accounting adjustments, the bank earned $1.15 per share.

Its revenue gained 9.5% to $19.6 billion, while adjusted revenue surged to $19.98 billion. However, analysts were estimating earnings of $1.14 per share on revenue of $18.99 billion. Citi also announced its intention to exit consumer businesses in 11 markets.

Equities Trading UP

Skyworks Solutions (NASDAQ: SWKS) shares shot up 10.33 percent to $50.00 after the company lifted its Q4 revenue and earnings guidance.

Shares of JB Hunt Transport Services (NASDAQ: JBHT) got a boost, shooting up 5.50 percent to $75.22 after the company reported stronger-than-expected third-quarter earnings.

Domino's Pizza (NYSE: DPZ) shares were also up, gaining 8.43 percent to $82.10 after the company posted better-than-expected third-quarter results.

Equities Trading DOWN

Shares of Wells Fargo & Company (NYSE: WFC) were down 1.10 percent to $49.65 after the company reported in-line earnings for the third quarter.

JPMorgan Chase & Co (NYSE: JPM) shares tumbled 0.79 percent to $57.70 after the company posted quarterly net income of $5.57 billion, versus a year-ago loss of $380 million.

Armstrong World Industries (NYSE: AWI) was down, falling 5.09 percent to $46.25 after the company cut its Q3 forecast citing price pressures in Europe and a market shift in North America.

Commodities

In commodity news, oil traded down 0.93 percent to $84.94, while gold traded up 0.46 percent to $1,235.60.

Silver traded up 0.92 percent Tuesday to $17.51, while copper rose 0.84 percent to $3.07.

Eurozone

European shares were mostly lower today. The eurozone’s STOXX 600 dropped 0.33 percent, the Spanish Ibex Index fell 0.06 percent, while Italy’s FTSE MIB Index declined 0.50 percent. Meanwhile, the German DAX fell 0.10 percent and the French CAC 40 fell 0.25 percent while UK shares rose 0.08 percent.

Economics

The NFIB Small Business Optimism Index declined 0.8 points to 95.3 in September.

The ICSC-Goldman Store Sales Index declined 0.7% in the week ended Saturday versus the earlier week.

The Johnson Redbook Retail Sales Index rose 3.8% y/y in the first week of October.

 

Related Articles (BZSUM)

View Comments and Join the Discussion!

Posted-In: Earnings News Guidance Eurozone Futures Commodities Econ #s 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.
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