Toward the end of trading Tuesday, the Dow traded up 1.73 percent to 25249 while the NASDAQ rose 2.14 percent to 7,490. The S&P also rose, gaining 1.74 percent to 2,792.
Leading and Lagging Sectors
Information technology shares rose 2.7 percent on Tuesday. Meanwhile, top gainers in the sector included Digital Turbine, Inc. (NASDAQ: APPS), up 13 percent, and NeoPhotonics Corporation (NYSE: NPTN), up 11 percent.
In trading on Tuesday, real estate shares fell by 1.3 percent.
Tiffany & Co. (NYSE: TIF) reported upbeat earnings for its first quarter, while sales missed estimates.
The luxury jewelry retailer reported quarterly earnings of $1.03 per share, which beat the analyst consensus estimate of $1.02. Tiffany’s reported quarterly sales of $1.003 billion missed the analyst consensus estimate of $1.02 billion.
Tiffany reported global gross retail square footage increase of 3 percent net with eight new store openings, six closings and 15 relocations.
Equities Trading UP
Castor Maritime Inc. (NASDAQ: CTRM) shares shot up 39 percent to $5.91 after the company reported year-over-year increases in sales, net income and EBITDA for the first six months of 2019.
Shares of Allena Pharmaceuticals, Inc. (NASDAQ: ALNA) got a boost, shooting up 25 percent to $5.02 after the company reported Interim results from the study of its Reloxaliase. The results showed substantial treatment effects observed in patients with Enteric Hyperoxaluria.
Digital Turbine, Inc. (NASDAQ: APPS) shares were also up, gaining 13 percent to $4.1650 after the company reported better-than-expected Q4 EPS and sales results.
Equities Trading DOWN
Millicom International Cellular S.A. (NASDAQ: TIGO) shares tumbled 8 percent to $52.32 after the company's largest shareholder, Kinnevik AB, filed to sell 11 million shares of Millicom stock and announced plans to sell its entire stake if the initial sale goes well.
Shares of Attis Industries, Inc. (NASDAQ: ATIS) were down 26 percent to $1.85. Attis Industries announced that its recently-acquired corn ethanol plant is expected to generate approximately $150 million in revenue.
Orchard Therapeutics plc (NASDAQ: ORTX) was down, falling 17 percent to $15.84 after reporting a 9 million share common stock offering.
In commodity news, oil traded up 0.3 percent to $53.42, while gold traded up 0.3 percent to $1,331.40.
Silver traded up 0.5 percent Tuesday to $14.82, while copper rose 0.7 percent to $2.6695.
European shares closed higher today. The eurozone’s STOXX 600 gained 0.59 percent, the Spanish Ibex Index rose 1.05 percent, while Italy’s FTSE MIB Index rose 1.79 percent. Meanwhile, the German DAX climbed 1.51 percent, and the French CAC 40 climbed 0.51 percent while UK shares rose 0.41 percent.
The Johnson Redbook Retail Sales Index rose 1.4 percent during the first four weeks of May versus April.
U.S. factory orders fell 0.8 percent in April, versus economists’ expectations for a 0.9 percent drop.
Federal Reserve Member of the Board of Governors Lael Brainard is set to speak in Chicago, IL at 3:45 p.m. ET.
Dallas Federal Reserve Bank President Robert Kaplan will speak in Chicago, IL at 6:45 p.m. ET.
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