Closing Update: Stocks Recover as Ukraine Tensions Ease, Earnings and Econ Data Largely Impress

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U.S. stocks racked up moderate gains on Tuesday, enough for fresh intraday records, after demand for riskier assets was rekindled when Russian-backed separatists turned over the black boxes from the downed Malaysian airliner. The developments eased tensions between Russia and the West for now. Following the lead from European equities, Wall Street opened higher and extended early gains with the release of bullish economic data and positive Q2 earnings.

Before the opening bell, futures extended overseas gains as Chipotle Mexican Grill ( CMG ) and Netflix ( NFLX ) both reported better than expected earnings. Benign inflation data coupled with strong housing market indicators and a big jump in the Richmond Fed manufacturing index all drove stocks to their intra-day highs by 11ET and the S&P 500 just shy of the 1986 record high.

Here's where the markets stand at the close:

US MARKETS

Dow Jones Industrial Index was up 61 points (+0.4%) at 17,113

S&P 500 was up 9.9 points (+0.5%) at 1,983

Nasdaq Composite Index was up 31 points (+0.7%) at 4,456

GLOBAL SENTIMENT

FTSE 100 was up 0.99%

Nikkei 225 was up 0.84%

Hang Seng Index was up 1.69%

Shanghai China Composite Index was up 1.02%

UPSIDE MOVERS

(+) CMG Beat on earnings and surpassed sales growth projections

(+) PII Beats street with Q2, sees increased sales for Indian brand; full-year guidance increased

(+) ITI Falls out of exchange compliance after late 10-K

(+) ADAT Details contract wins, both inside and outside the Department of Veterans Affairs

(+) FCEL GE announces plans to build fuel-cell manufacturing plant in NY

(+) GRH Announced plans to form a master limited partnership

DOWNSIDE MOVERS

(-) TEP Plans to sell 7 million common units

(-) SILC Missed earnings and revenue estimates

(-) HOG Reduced FY14 shipment guidance by 3%



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: CMG , NFLX

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As of 9/23/2014, 04:15 PM

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