Following the market opening Tuesday, the Dow traded up 0.02 percent to 24,817.40 while the NASDAQ climbed 0.42 percent to 7,638.45. The S&P also rose, gaining 0.13 percent to 2,750.41.
Leading and Lagging Sectors
Tuesday morning, the materials shares surged 1.11 percent. Meanwhile, top gainers in the sector included Marrone Bio Innovations, Inc. MBII 2.52% up 4 percent, and LSB Industries, Inc. LXU 3.8% up 5 percent.
In trading on Tuesday, energy shares fell 0.49 percent.
Navistar International Corp NAV 0.8% reported upbeat earnings for its second quarter and raised its FY18 sales outlook.
Navistar posted adjusted earnings of $0.55 per share on revenue of $2.42 billion. However, analysts were expecting earnings of $0.33 per share on revenue of $2.44 billion.
Palo Alto Networks now expects FY18 sales of $9.75 billion to $10.25 billion, versus earlier forecast of $9.25 billion to $9.75 billion.
Equities Trading UP
AMERI Holdings, Inc. AMRH 203.09% shares shot up 133 percent to $1.88 after the company announced a new partnership with a machine learning company called Bayestree Intelligence.
Shares of Co-Diagnostics, Inc. CODX 27.92% got a boost, shooting up 32 percent to $5.87. Co-Diagnostics reported advancement of Co-Primers technology in multiplex SNP genotyping.
G-III Apparel Group, Ltd. GIII 12.03% shares were also up, gaining 12 percent to $47.92 after the company reported better-than-expected results for its first quarter and raised its full-year guidance.
Equities Trading DOWN
Aegean Marine Petroleum Network Inc. ANW 74.56% shares dropped 70 percent to $0.85 following Audit Committee findings indicating that $200 million of accounts receivable will need to be written off.
Shares of Tarena International, Inc. TEDU 21.81% were down 22 percent to $7.38 after reporting Q1 results.
Genesco Inc. GCO 11.56% was down, falling around 8 percent to $41.3722 following Q1 results.
In commodity news, oil traded down 0.51 percent to $64.42 while gold traded down 0.05 percent to $1,296.70.
Silver traded down 0.10 percent Tuesday to $16.415, while copper rose 0.45 to $3.1485.
European shares were mostly higher today. The eurozone’s STOXX 600 climbed 0.37 percent, the Spanish Ibex Index rose 0.45 percent, while Italy’s FTSE MIB Index rose 0.02 percent. Meanwhile the German DAX climbed 1.08 percent, and the French CAC 40 rose 0.58 percent while U.K. shares fell 0.47 percent.
The Markit services PMI gained to 56.80 for May, versus previous reading of 55.70. However, economists were projecting a reading of 55.70.
The ISM nonmanufacturing index rose to 58.60 in May, versus prior reading of 56.80. Economists expected a reading of 57.90.
Job openings increased to 6.7 million in April, compared to 6.63 million in March, the Labor Department reported.