Midway through trading Tuesday, the Dow traded up 1.34% to 29,988.10 while the NASDAQ rose 0.95% to 11,993.07. The S&P also rose, gaining 1.34% to 3,625.43.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 12,421,990 cases with around 257,700 deaths. India confirmed a total of at least 9,177,840 confirmed cases and 134,210 deaths, while Brazil reported over 6,087,600 COVID-19 cases with 169,480 deaths. In total, there were at least 59,315,200 cases of COVID-19 worldwide with over 1,399,070 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Energy shares rose 4.4% on Tuesday. Meanwhile, top gainers in the sector included Transocean LTD (NYSE: RIG), up 22%, and QEP Resources, Inc. (NYSE: QEP), up 22%.
In trading on Tuesday, consumer staples shares rose by just 0.4%.
Top Headline
Dollar Tree, Inc. (NASDAQ: DLTR) reported stronger-than-expected results for its third quarter.
Dollar Tree posted quarterly earnings of $1.39 per share, surpassing analysts’ estimates of $1.15 per share. The company reported sales of $6.18 billion, exceeding expectations of $6.12 billion.
Equities Trading UP
Fuel Tech, Inc. (NASDAQ: FTEK) shares shot up 90% to $5.35 after jumping around 122% on Monday.
Shares of The Goldfield Corporation (NYSE: GV) got a boost, shooting 63% to $6.96 after the company announced it entered into a definitive agreement to be acquired by the first reserve for $7 per share in cash.
SPI Energy Co., Ltd. (NASDAQ: SPI) shares were also up, gaining 23% to $13.21 after the company announced Phoenix Motorcars deploys two electric shuttle buses to the city of Santa Cruz.
Equities Trading DOWN
Dycom Industries, Inc. (NYSE: DY) shares tumbled 18% to $64.26 after reporting weak quarterly sales.
Shares of iMedia Brands, Inc. (NASDAQ: IMBI) were down 22% to $6.07 after the company reported results for the third quarter.
Advaxis, Inc. (NASDAQ: ADXS) was down, falling 29% to $0.2788 after the company reported pricing of $8 million public offering.
Commodities
In commodity news, oil traded up 4.4% to $44.97, while gold traded down 1.9% to $1,803.50.
Silver traded down 1.6% Tuesday to $23.245 while copper rose 1.3% to $3.2990.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.78%, the Spanish Ibex Index rose 1.65%, while Italy’s FTSE MIB Index jumped 1.92%. Meanwhile, the German DAX 30 climbed 1.22%, French CAC 40 climbed 1.12% and London’s FTSE 100 rose 1.29%.
German GDP grew by a record 8.5% in the third quarter, while French manufacturing climate indicator slipped to 92 in November versus a revised reading of 94 in October.
Economics
The S&P Corelogic Case-Shiller home price index increased 6.6% year-over-year in September versus a 5.3% rise in the prior month.
The FHFA house price index rose 1.7% in September.
The Conference Board’s consumer confidence index declined to 96.10 in November from prior reading of 100.90.
The Richmond Fed’s manufacturing index dropped to 15.00 in November versus prior reading of 29.00.
The Treasury is set to auction 7-year notes at 1:00 p.m. ET.
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