Toward the end of trading Tuesday, the Dow was up 0.07% to 27,108.34, while the NASDAQ fell 0.36% to 8,295.78. The S&P also rose, gaining 0.13% to 3,043.38.
Leading and Lagging Sectors
Health care shares climbed 1.5% on Tuesday. Meanwhile, top gainers in the sector included Athenex Inc ATNX up 16.9% and Mirati Therapeutics, Inc. MRTX, up 16%.
In trading on Tuesday, communication services shares fell 0.8%.
Top Headline
General Motors Company GM reported upbeat earnings for its third quarter, but lowered its fiscal year guidance.
GM posted third-quarter earnings of $1.72 per share on Tuesday, which beat the analyst consensus estimate of $1.31. The company reported quarterly sales of $35.5 billion, which beat the analyst consensus estimate of $33.82 billion.
GM cut its fiscal year EPS guidance from a range of $6.50-$7 to $4.50-$4.80 against a $5.62 estimate, citing the impact of a UAW strike.
Equities Trading UP
- Shares of MDJM Ltd MDJH jumped 35.8% to $3.57 on news of the company entering into a primary real estate agency services contract with Tianjin Aizhishan Real Estate.
- Amkor Technology, Inc. AMKR rose 21.4% to $13.45, after the company reported third-quarter earnings of 23 cents per share versus the 8 cents per share estimate and reported better-than-expected sales results. The company also issued strong fourth-quarter guidance.
- Texas Roadhouse, Inc. TXRH shares climbed 17.2% to $58.82, after the company reported better-than-expected third-quarter earnings and sales results.
Equities Trading DOWN
- Grubhub Inc. GRUB shares nosedived 33.6% to $38.80, after the company reported worse-than-expected third-quarter sales results. The company also issued fourth-quarter sales guidance below analyst estimates.
- Shares of Diebold Nixdorf, Incorporated. DBD fell 24.9% to $7.42 after the company reported results for its third quarter.
- Beyond Meat, Inc. BYND shares plummeted 21.4% to $82.87, after the company reported third-quarter earnings results.
Commodities
In commodity news, oil traded flat at $55.81, while gold traded down 0.3% to 1,490.70.
Silver traded down 0.3% Tuesday to $17.82, while copper was up 0.3% to $2.691.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.2%, the Spanish Ibex Index was down 0.4%, while Italy’s FTSE MIB Index slipped 0.1%. Meanwhile, the German DAX was flat, and the French CAC 40 rose 0.2% while UK shares fell 0.3%
Economics
- The Federal Open Market Committee begins its two-day policy meeting today.
- The S&P CoreLogic Case-Shiller 20-city home price index increased 2% year-over-year in August.
- The Conference Board consumer confidence index fell to 125.9 in October, versus prior reading of 135.7.
- The pending home sales index rose 3.9% year-over-year in September.
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