Midway through trading Tuesday, the Dow traded up 0.31 percent
to 16,555.15 while the NASDAQ surged 0.42 percent to 4,171.82.
The S&P also rose, gaining 0.34 percent to 1,847.36.
Top Headline Warren Buffett's Berkshire Hathaway (NYSE:
) announced its plans to buy the flow improver business of
Phillips 66 (NYSE:
) for about $1.4 billion of stock.
Equities Trading UP Shares of Hertz Global Holdings (NYSE:
) got a boost, shooting up 9.19 percent to $28.29 after the
shareholder rights plan.
Phillips 66 (NYSE:
) shot up 3.09 percent to $77.03 after Berkshire Hathaway (NYSE:
) announced its
plans to buy
the flow improver business of Phillips 66 for about $1.4 billion
Marvell Technology Group (NASDAQ:
) was also up, gaining 5.31 percent to $14.49 after KKR & Co
LLP reported a 6.8% stake in the company.
Equities Trading DOWN Shares of Silver Standard Resources
) were down 1.92 percent to $6.89. Silver futures tumbled 3.29%
to trade at $18.97 an ounce.
) tumbled 0.97 percent to $42.13 after analysts at Benchmark
downgraded the stock from Buy to Hold and lowered the target
price from $49 to $46.
Mechel OAO (NYSE:
) was down, falling 2.25 percent to $2.52 after the company
appointed Senior Vice-President for Economics and Management Oleg
Korzhov as its Chief Executive Officer.
Commodities In commodity news,
oil traded down 0.71 percent
to $98.59, while gold traded up 0.47 percent to $1,209.40.
Silver traded up 0.20 percent Tuesday to $19.66, while copper
rose 0.59 percent to $3.40.
Eurozone European shares
today. The Spanish Ibex Index rose 0.15 percent, the French CAC
40 rose 0.47 percent and U.K. shares gained 0.26 percent.
Economics The ICSC-Goldman Sachs store sales index rose 1% in
the week ended Saturday versus the earlier week.
The Johnson Redbook Retail Sales Index gained 4.5% in the
fourth week of December, versus a 3.9% rise in the earlier
The S&P/Case-Shiller home price index gained 13.6% in the
year ended October.
The Chicago PMI fell to 59.10 in December, versus a prior
reading of 63.00. However, economists were expecting a reading of
The Conference Board's consumer confidence index surged to
78.10 in December, versus a prior reading of 70.40. However,
economists were expecting a reading of 76.00.
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