Following the market opening Tuesday, the Dow traded down 0.62 percent to 23,294.15 while the NASDAQ declined 0.58 percent to 6,718.39. The S&P also fell, dropping 0.59 percent to 2,569.68.
Leading and Lagging Sectors;
Tuesday morning, the non-cyclical consumer goods & services shares slipped by just 0.07 percent.
In trading on Tuesday, energy shares were relative laggards, down on the day by about 1.12 percent. Meanwhile, top losers in the sector included Whiting Petroleum Corp WLL 5.76%, down 5 percent, andPetroleo Brasileiro SA Petrobras (ADR) PBR 4.61% down 5 percent.
Home Depot Inc HD 0.3% reported better-than-expected earnings for its third quarter and lifted its full-year guidance.
Home Depot posted quarterly adjusted earnings of $1.84 per share on revenue of $25.03 billion. However, analysts were expecting earnings of $1.82 per share on revenue of $24.53 billion. Comparable store sales rose 7.9 percent in the quarter.
Equities Trading UP;
Buffalo Wild Wings BWLD 26.16% shares shot up 25 percent to $146.77 on a $2.3 billion takeover bid submitted by private-equity firm Roark Capital. The firm’s bid for the restaurant chain is worth over $150 per share.
Shares of ITUS Corp ITUS 15.19% got a boost, shooting up 13 percent to $2.87 after the company disclosed that it has executed an exclusive worldwide license agreement with The Wistar Institute for a CAR T-Cell technology.
Advance Auto Parts, Inc. AAP 23.12% shares were also up, gaining 21 percent to $99.67 after the company reported better-than-expected profit for its third quarter.
Equities Trading DOWN;
NCS Multistage Holdings Inc NCSM 24.42% shares dropped 25 percent to $15.52. NCS Multistage reported Q3 adjusted earnings of $0.09 per share on revenue of $56 million.
Shares of Network-1 Technologies Inc NTIP 33.18% were down 34 percent to $2.88 after a jury in the United States District Court determined that Network-1’s Remote Power Patent is invalid and not infringed by Hewlett-Packard.
Netshoes (CAYMAN) Ltd NETS 18.24% was down, falling around 18 percent to $7.94. Netshoes reported a Q3 loss of $0.58 per share on sales of $140.352 million.
In commodity news, oil traded down 0.53 percent to $56.46 while gold traded down 0.27 percent to $1,275.40.
Silver traded down 0.39 percent Tuesday to $16.98, while copper fell 0.34 percent to $3.106.
European shares were lower today. The eurozone’s STOXX 600 declined 0.41 percent, the Spanish Ibex Index fell 0.20 percent, while Italy’s FTSE MIB Index dropped 0.43 percent. Meanwhile the German DAX declined 0.18 percent, and the French CAC 40 dropped 0.31 percent while U.K. shares rose 0.12 percent.
The NFIB small business optimism index rose to a reading of 103.80 in October, versus a prior reading of 103.00.
The Producer Price Index rose 0.4 percent for October, versus economists’ expectations for a 0.2 percent gain.
The Treasury is set to auction 4-week bills at 11:30 a.m. ET.