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Following the market opening Tuesday, the Dow traded up 0.08% to 27485.22 while the NASDAQ fell 0.09% to 8,425.80. The S&P also fell, dropping 0.15% to 3,073.74.
Leading and Lagging Sectors
Energy shares climbed 0.7% on Tuesday. Meanwhile, top gainers in the sector included HighPoint Resources Corporation (NYSE:HPR), up 11%, and Carrizo Oil & Gas, Inc. (NASDAQ:CRZO), up 12%.
In trading on Tuesday, real estate shares fell 1.4%.
Top Headline
Emerson Electric Co (NYSE:EMR) reported better-than-expected earnings for its fourth quarter, while sales missed estimates.
Emerson Electric reported first-quarter earnings of $1.16 per share, which beat the analyst consensus estimate of $1.08 per share. The company posted quarterly sales of $4.97 billion, versus analysts’ estimates of $5.04 billion.
Emerson Electric said it expects FY19 adjusted EPS of $3.69 per shares, versus analysts’ estimates of $3.63. The company projects FY20 adjusted EPS of $3.48-$3.72, versus analysts’ views of $3.74. The company also announced plans to raise dividend by 4% in 2020.
Equities Trading UP
Fulgent Genetics, Inc. (NASDAQ:FLGT) shares shot up 38% to $12.98 after the company reported better-than-expected Q3 EPS and sales results.
Shares of EverQuote, Inc. (NASDAQ:EVER) got a boost, shooting up 27% to $27.61 after the company reported better-than-expected Q3 EPS and sales results. The company also issued Q4 sales guidance above estimates and raised FY19 sales guidance above estimates.
NextCure, Inc. (NASDAQ:NXTC) shares were also up, gaining 28% to $33.80.
Equities Trading DOWN
Myriad Genetics, Inc. (NASDAQ:MYGN) shares tumbled 39% to $21.40 after the company reported Q1 EPS of $0.08 compared to the $0.32 estimate and worse-than-expected Q1 sales results. The company also issued Q2 and FY20 EPS and sales results below analyst estimates.
Shares of Strongbridge Biopharma plc (NASDAQ:SBBP) were down 30% to $1.69 after the company reported CEO transition plan and issued preliminary Q3 financial results and corporate updates.
Neuronetics, Inc. . (NASDAQ:STIM) was down, falling 28% to $6.47 after the company reported downbeat Q3 sales and issued weak sales forecast.
Commodities
In commodity news, oil traded up 0.7% to $56.92, while gold traded down 0.5% to $1,503.60.
Silver traded down 0.4% Tuesday to $18.00, while copper rose 0.4% to $2.6805.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.1%, the Spanish Ibex Index fell 0.2%, while Italy’s FTSE MIB Index climbed 0.3%. Meanwhile, the German DAX gained 0.1%, and the French CAC 40 rose 0.2% while UK shares rose 0.3%.
Economics
U.S. trade deficit declined around 5% to $52.5 billion in September, versus a revised $55 billion in August. Imports of goods declined around 1% to $206 billion, while exports fell 1.7% to $258.4 billion.
The Johnson Redbook Retail Sales Index rose 0.3% during the first four weeks of October versus September.
The IHS Markit services PMI slipped to 50.6 in October, compared to a preliminary estimate of 51 and versus a reading of 50.9 in September.
The ISM non-manufacturing index climbed to 54.7 in October, versus 52.6 in the prior month.
The number of job openings dropped to 7.024 million in September, versus a revised 7.3 million in the prior month.
The Treasury is set to auction 52-week bills at 11:30 a.m. ET.
Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Dallas, Texas at 12:40 p.m. ET.
The Treasury will auction 3-year notes at 1:00 p.m. ET.
Minneapolis Federal Reserve Bank President Neel Kashkari will speak in Minneapolis, Minnesota at 6:00 p.m. ET.
