Toward the end of trading Tuesday, the Dow traded up 0.54
percent to 15,050.71 while the NASDAQ rose 0.07 percent to
3,395.07. The S&P rose, gaining 0.50 percent to 1,625.75.
The Dow Jones Industrial Average, Nasdaq and S&P 500 all
rose modestly on the session. The S&P closed at a new
all-time high after starting out the week in the same
Major Averages The Dow Jones Industrial Averages closed up
0.54 percent at 15,049.45
The S&P 500 closed up 0.46 percent at 1,624.95.
The Nasdaq Composite closed up 0.04 percent at 3.394.36.
Commodities In commodity news, oil traded down 0.49 percent to
$95.67, while gold traded down 1.36 percent to $1,448.20. Silver
traded down 1.06 percent Tuesday to $23.70, while copper fell
0.24 percent to $3.30.
Eurozone European shares rose following the stronger than
expected bank earnings from around the continent. The Spanish
Ibex Index gained 0.47 percent while the Italian FTSE MIB Index
rose 1.54 percent. Meanwhile, the German DAX surged 0.86 percent
while the French CAC 40 climbed 0.37 percent and U.K. shares rose
Economics The ICSC-Goldman comparable store sales index
declined 1% in the week ended Saturday versus the prior week. The
Redbook index fell 2.5% month-over--month in the week ended April
28. March consumer credit was also out, coming in at $7.966
billion, well below the survey of $15.60 billion and the prior
release of $18.139 billion.
Top HeadlineEmerson Electric Co (NYSE:
) reported a 2.9% rise in its fiscal second-quarter earnings and
cut its full-year view.
Emerson Electric now projects earnings of $3.48 to $3.58 per
share or the year on sales growth of 1.5% to 2.5%. In February,
the company expects earnings of $3.53 to $3.63 per share on sales
growth of 2% to 5%.
Emerson Electric's quarterly profit surged to $561 million, or
$0.77 per share, from $545 million, or $0.74 per share, in the
year-ago period. Its revenue climbed 0.7% to $5.96 billion.
However, analysts were expecting earnings of $0.78 per share on
revenue of $6.03 billion.
Equities Closing UPSantarus (NASDAQ:
) closed up 10.60 percent to $20.87 on Q1 earnings.
Shares of Mercadolibre (NASDAQ:
) got a boost, closed up 17.89 percent to $122.55 after the
company reported strong Q1 sales.
) continued to rise, closing up 8.94 percent to $107.81 after the
company reported a 24% rise in its Q1 earnings.
Equities Closing DOWNAruba Networks (NASDAQ:
) was down, closing down 22.81 percent to $17.02 on weak
Shares of Solarcity (NASDAQ:
) dropped 10.56 percent to 23.64 as the whole solar segment falls
on First Solar's earnings report.
First Solar (NASDAQ:
) shares tumbled 8.93 percent to $43.43 on Q1 results that came
in below the company's pre-announcement.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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