Following the market opening Tuesday, the Dow traded up 0.54 percent to 21,821.58 while the NASDAQ climbed 0.80 percent to 6,262.58. The S&P also rose, gaining 0.58 percent to 2,442.35.
Leading and Lagging Sectors;
Tuesday morning, the basic materials shares climbed by 0.95 percent. Meanwhile, top gainers in the sector included Allegheny Technologies Incorporated (NYSE: ATI), up 5 percent, and Mechel PAO (ADR) (NYSE: MTL), up 5 percent.
In trading on Tuesday, utilities shares rose by just 0.1 percent. Meanwhile, top losers in the sector included Atlantic Power Corp (NYSE: AT), down 2 percent, and SCANA Corporation (NYSE: SCG) down 1 percent.
Toll Brothers Inc (NYSE: TOL) reported stronger-than-expected profit for its third quarter, while revenue missed estimates
Toll Brothers posted quarterly earnings of $0.87 per share on revenue of $1.502 billion. However, analysts were expecting earnings of $0.69 per share on revenue of $1.51 billion.
Equities Trading UP;
Centrais Eletricas Brasileiras SA (ADR) (NYSE: EBR) shares shot up 34 percent to $5.95 after the Brazil’s government proposed privatizing the company.
Shares of Kirkland’s, Inc. (NASDAQ: KIRK) got a boost, shooting up 25 percent to $10.49 after the company posted better-than-expected quarterly results.
DSW Inc. (NYSE: DSW) shares were also up, gaining 23 percent to $19.28 after the company reported better-than-expected Q2 earnings.
Equities Trading DOWN;
Tarena International Inc(ADR) (NASDAQ: TEDU) shares dropped 23 percent to $14.24. Tarena International reported Q2 earnings of RMB$1.00 per share on sales of RMB$455.83 million. Nomura downgraded Tarena from Buy to Neutral.
Shares of Momo Inc (ADR) (NASDAQ: MOMO) were down 16 percent to $38.04. Momo reported Q2 earnings of $0.35 per ADS on revenue of $312.22 million.
Cheetah Mobile Inc (ADR) (NYSE: CMCM) was down, falling around 13 percent to $10.39. Cheetah Mobile posted Q2 adjusted earnings of $0.09 per share on revenue of $177.239 million.
In commodity news, oil traded down 0.11 percent to $47.32 while gold traded down 0.41 percent to $1,291.40.
Silver traded up 0.09 percent Tuesday to $17.03, while copper fell 0.93 percent to $3.0295.
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.56 percent, the Spanish Ibex Index rose 0.27 percent, while Italy’s FTSE MIB Index declined 0.40 percent. Meanwhile the German DAX climbed 0.96 percent, and the French CAC 40 gained 0.62 percent while U.K. shares rose 0.79 percent.
The Johnson Redbook Retail Sales Index declined 0.2 percent during the first three weeks in August versus July.
The FHFA house price index rose 6.5 percent year-over-year for June.
The Richmond Fed’s manufacturing index came in at 14.00 for August, versus previous reading of 14.00. Economists expected a reading of 12.00.
The Treasury is set to auction 4-week bills at 1:00 p.m. ET.