Following the market opening Tuesday, the Dow traded up 0.18% to 27138.83 while the NASDAQ fell 0.19% to 8310.49. The S&P also rose, gaining 0.19% to 3,045.14.
Leading and Lagging Sectors
Health care shares climbed 0.9% on Tuesday. Meanwhile, top gainers in the sector included Mirati Therapeutics, Inc. (NASDAQ: MRTX), up 14%, and Kiniksa Pharmaceuticals, Ltd. (NASDAQ: KNSA), up 8%.
In trading on Tuesday, communication services shares fell 0.7%.
Top Headline
General Motors Company (NYSE: GM) reported upbeat earnings for its third quarter, but lowered its fiscal year guidance.
GM posted third-quarter earnings of $1.72 per share on Tuesday, which beat the analyst consensus estimate of $1.31. The company reported quarterly sales of $35.5 billion, which beat the analyst consensus estimate of $33.82 billion.
GM cuts its fiscal year EPS guidance from a range of $6.50-$7 to $4.50-$4.80 against a $5.62 estimate, citing the impact of a UAW strike.
Equities Trading UP
Amkor Technology, Inc. (NASDAQ: AMKR) shares shot up 32% to $14.66 after the company reported Q3 EPS of $0.23 versus the $0.08 estimate and reported better-than-expected Q3 sales results. The company also issued strong Q4 guidance.
Shares of Synthesis Energy Systems, Inc. (NASDAQ: SES) surged 40% to $7.91.
Texas Roadhouse, Inc. (NASDAQ: TXRH) shares gained 18% to $59.07 after the company reported better-than-expected Q3 EPS and sales results.
Equities Trading DOWN
Grubhub Inc. (NYSE: GRUB) shares tumbled 41% to $34.53 after the company reported worse-than-expected Q3 sales results. The company also issued Q4 sales guidance below analyst estimates.
Shares of U.S. Silica Holdings, Inc. (NYSE: SLCA) were down 31% to $5.41 after the company reported worse-than-expected Q3 EPS and sales. The company anticipates a slowdown in North American completions activity in Q4, which will negatively impact its oil and gas segment.
Diebold Nixdorf, Incorporated (NYSE: DBD) was down, falling 23% to $7.60 after the company reported Q3 EPS of $(0.06) compared to the $0.24 estimate and worse-than-expected Q3 sales results. The company also cut FY19 sales guidance.
Commodities
In commodity news, oil traded down 1.5% to $54.96, while gold traded down 0.3% to $1,491.30.
Silver traded down 1% Tuesday to $17.70, while copper fell 0.2% to $2.679.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.4%, the Spanish Ibex Index fell 0.5%, while Italy’s FTSE MIB Index slipped 0.1%. Meanwhile, the German DAX dropped 0.1%, and the French CAC 40 rose 0.1% while UK shares fell 0.5%
Economics
The Federal Open Market Committee begins its two-day policy meeting today.
The S&P CoreLogic Case-Shiller 20-city home price index increased 2% year-over-year in August.
The Conference Board consumer confidence index fell to 125.9 in October, versus prior reading of 135.7.
The pending home sales index rose 3.9% year-over-year in September.