Following the market opening Tuesday, the Dow traded up 1.55 percent to 24,351.57 while the NASDAQ climbed 1.27 percent to 7,038.31. The S&P also rose, gaining 1.27 percent to 2,646.34.
Leading and Lagging Sectors;
Tuesday morning, the energy shares climbed 2.27 percent. Meanwhile, top gainers in the sector included Keane Group, Inc. FRAC 8.28%, up 8 percent, and Sanchez Energy Corporation SN 9.01%, up 8 percent.
In trading on Tuesday, utilities shares fell 0.07 percent.
VeriFone Systems, Inc. PAY 52% agreed to sell itself. VeriFone agreed to be acquired by Francisco Partners, a technology-focused private equity firm for $23.04 per share, or $3.4 billion which includes Verifone’s net debt.
Equities Trading UP;
VeriFone Systems, Inc. PAY 52% shares shot up 52 percent to $22.77 after the company agreed to be acquired by Francisco Partners for $3.4 billion in cash.
Shares of Spectrum Pharmaceuticals, Inc. SPPI 21.74% got a boost, shooting up 22 percent to $17.775. Spectrum Pharmaceuticals reported update of MD Anderson’s Phase 2 Data studying poziotinib in EGFR Exon 20 Mutant Non-Small Cell Lung Cancer patients.
Energous Corporation WATT 12.81% shares were also up, gaining 15 percent to $19.08. The maker of wire-free charging technologies said it received a certification for its WattUp Near Field transmitter from the Federal Communications Commission.
Equities Trading DOWN;
vTv Therapeutics Inc. VTVT 70.72% shares dropped 71 percent to $0.96. vTv Therapeutics announced Monday after the close that results from Part A of its late-stage study of an investigational medication to treat Alzheimer’s disease did not meet either co-primary endpoint.
Shares of New Age Beverages Corporation NBEV 18.76% were down 19 percent to $1.69 after announcing a common stock offering.
EMCORE Corporation EMKR 8.93% was down, falling around 9 percent to $5.10 as the company lowered its Q2 sales guidance.
In commodity news, oil traded up 1.61 percent to $64.44 while gold traded up 0.01 percent to $1,340.10.
Silver traded up 0.28 percent Tuesday to $16.575, while copper rose 1.46 percent to $3.122.
European shares were higher today. The eurozone’s STOXX 600 climbed 0.54 percent, the Spanish Ibex Index climbed 0.29 percent, while Italy’s FTSE MIB Index gained 0.38 percent. Meanwhile the German DAX climbed 0.92 percent, and the French CAC 40 rose 0.53 percent while U.K. shares rose 0.64 percent.
The NFIB small business optimism index declined to 104.7 for March.
The Producer Price Index rose 0.3 percent for March, versus economists’ expectations for a 0.1 percent growth.
U.S. wholesale inventories gained 1 percent for February.
The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
The Treasury will auction 3-year notes at 1:00 p.m. ET.
Atlanta Federal Reserve Bank President Raphael Bostic will speak in Cambridge, Massachusetts at 6:30 p.m. ET.