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Dow, S&P 500 Add To Gains Following Encouraging International News

Dow, S&P 500 Add To Gains Following Encouraging International News
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U.S. stocks rose on Tuesday, lifting the Dow and S&P 500 to new all-time highs as investors found positives in data releases, including the NAHB Housing Market Index, which rose more than expected.

In Europe, German investor confidence saw the largest increase in 11 months while European auto sales rose for the 14th consecutive month. The data sets may have helped ease investor concerns, at least temporarily, over Europe's performance.

Japan's Prime Minster Shinzo Abe announced he will delay next year's planned sales tax increase until mid-2017. At the same time, Abe called for an early election.

  • The Dow gained 0.23 percent, closing at 17,687.82.
  • The S&P 500 gained 0.51 percent, closing at 2,051.80.
  • The Nasdaq gained 0.67 percent, closing at 4,702.44.
  • Gold gained 1.04 percent, trading at $1,195.80 an ounce.
  • Oil lost 1.52 percent, trading at $74.51 a barrel.

News Of Note

ICSC Retail Store Sales rose 2.2 percent year over year after rising 2.1 percent last week.

October Producer Price Index rose 0.2 percent month over month versus expectations of a 0.1 percent decline, after declining 0.1 percent in September.

Related Link: Citigroup: Apple Pay, Passbook Could be 'Very Innovative And Disruptive'

Redbook Chain Store Sales rose 3.8 percent year over year after rising 3.9 percent last week.

Third Quarter E-Commerce Retail Sales rose 4.0 percent quarter over quarter to $78.1 billion.

November NAHB Housing Market Index rose to 58 versus expectations of 55, from 54.

The Senate will vote Tuesday evening on approving the Keystone XL pipeline.

Equities News Of Note

The Home Depot, Inc. (NYSE: HD) reported its third-quarter results Tuesday morning. The company earned $1.15 per share, beating the consensus estimate of $1.13. Revenue of $50.52 billion beat the consensus estimate of $20.47 billion. Shares lost 2.09 percent, closing at $95.98.

Medtronic, Inc. (NYSE: MDT) reported its second-quarter results. The company earned $0.96 per share, in line with the consensus estimate. Revenue of $4.37 billion was also in line with the consensus estimate. Shares hit new 52-week highs of $72.74 before closing the day at $72.47, up 4.74 percent.

Analysts at Oppenheimer maintained an Outperform rating on Apple Inc. (NASDAQ: AAPL) with a price target raised to $130 from a previous $115. Shares gained 1.30 percent, closing at $115.47.

Analysts at Hilliard Lyons initiated coverage of Facebook Inc (NASDAQ: FB) with a Long-Term Buy and $92 price target. Shares gained 0.13 percent, closing at $74.34.

Analysts at BB&T Capital initiated coverage of Nike Inc (NYSE: NKE) with a Hold rating. Shares hit new 52-week highs of $96.84 before closing the day at $96.47, up 0.43 percent.

Analysts at Barclays maintained an Equal-Weight rating on Walt Disney Co (NYSE: DIS) with a price target lowered to $83 from a previous $85. Shares lost 0.14 percent, closing at $90.28.

Intel Corporation (NASDAQ: INTC) plans to merge its PC and mobile processor divisions in early 2015. Shares gained 1.37 percent, closing at $34.71.

GoPro Inc (NASDAQ: GPRO) announced after Monday's close that it plans to sell 1.3 million new shares and 9.1 million shares on behalf of existing holders at a proposed maximum offering price of $78.12. Shares gained 3.19 percent, closing at $84.10.

Related Link: Spotify Sets Sights On Growth Despite Recent Arguments With Taylor Swift

Halliburton Company's (NYSE: HAL) said on CNBC that it has many potential buyers lined up if the company needs to divest assets to complete its acquisition of Baker Hughes Incorporated (NYSE: BHI). Shares of Halliburton lost 1.40 percent, closing at $48.54 while shares of Baker Hughes lost 2.58 percent, closing at $63.55.

SunEdison Inc (NYSE: SUNE) and its TerraForm Power YieldCo (NASDAQ: TERP) have agreed to acquire First Wind, a U.S. wind project developer for $1.9 billion ($1 billion upfront) and up to $510 million in earn-outs. The company said that the acquisition gives it 1.6GW of pipeline and backlog projects with an installing guidance of 2.1GW to 2.3GW in 2015. Shares of SunEdison gained 29.32 percent, closing at $21.48, while shares of TerraForm hit new 52-week highs of $34.74 before closing the day at $32.75, up 26.74 percent.

Forbes speculated that 3G Capital may be setting up a new fund to "possibly" acquire The Coca-Cola Co (NYSE: KO). Shares gained 1.42 percent, closing at $43.53.

Facebook launched a new feature called FB Techwire that presents breaking news in the technology sector.

Bill Ackman said that he plans to withdraw a special meeting of Allergan, Inc. (NYSE: AGN) shareholders as he supports Actavis' (NYSE: ACT) deal to acquire the company. Shares of Allergan hit new 52-week highs of $214.20 before closing the day at $213.37, up 2.02 percent; shares of Actavis also hit new 52-week highs of $269.66 before closing the day at $269.60, up 8.74 percent.

Quote Of The Day

"I'm paying nothing for my Wi-Fi right now, and it works perfectly." – CNBC's Jim Cramer to Globalstar's (NYSE: GSAT) CEO Jay Monroe during Monday's "Mad Money" on CNBC.

Latest Ratings for AAPL

Sep 2017PiperJaffrayMaintainsOverweightOverweight
Sep 2017Morgan StanleyMaintainsOverweight
Sep 2017NomuraMaintainsBuy

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