Markets

Mid-Day Update: Wall Street Rallies on Tentative Budget Deal, US-China Trade Hopes

A pen notebook and calculator laying on top of sheets of paper
Credit: Shutterstock photo

US stocks maintained solid gains around midday on Tuesday as investors cheered lawmakers' tentative deal to avert another government shutdown as well as positive signals from ongoing trade discussions between the US and China.

In economic news, the January National Federation of Independent Business optimism index fell 3.1% to 101.2 after sliding 0.4% to 104.4 in December.

December Job Openings and Labor Turnover Survey showed openings rose 169,000 to 7.335 million against forecast for 6.900 million.

Optimism surrounding a potential US-China trade deal also crossed the Atlantic with most European sectors in positive territory and the automotive sector leading gains. In the UK, British Prime Minister Theresa May updated lawmakers on the latest Brexit developments saying she needed some time to complete the process with the European Union.

Crude oil is up 1.60% to $53.25 per barrel. Natural gas is up 1.25% to $2.67 per 1 million BTU. Gold is up 0.12% to $1,313.50 an ounce, while silver is down 0.10% to $15.675. Copper is up 0.75% to $2.7685 per pound.

Among energy ETFs, the United States Oil Fund is up 1.91% to $11.22 with the United States Natural Gas Fund is up 1.57% to $23.98. Amongst precious-metal funds, the VanEck Vectors Gold Miners ETF was down 0.16% to $22.05, while SPDR Gold Shares is up 0.11% 123,74. The iShares Silver Trust is down 0.07% to $14.71.

Here's where the markets stand at mid-day:

US MARKETS

NYSE Composite Index is up 1.02% to 12,423.67

Dow Jones Industrial Index is up 1.34% to 25,388.96

S&P 500 is up 1.24% to 2,743.47

Nasdaq Composite Index is up 1.37% to 7,408.29

GLOBAL SENTIMENT

FTSE 100 is up 0.06% to 7,133.14

DAX is up 1.01% to 11,126.08

CAC 40 is up 0.84% to 5,056.35

Nikkei 225 is up 2.61% to 20,864.21

Hang Seng Index is up 0.11% 28,176.16

Shanghai China Composite Index is up 0.68% to 2,671.89

NYSE SECTOR INDICES

NYSE Energy Sector Index is up 0.94% to 10,366.15

NYSE Financial Sector Index is up 1.03% to 7,667.61

NYSE Healthcare Sector Index is up 0.90% to 15,711.59

UPSIDE MOVERS

(+) COTY (+14.5%) Investment firm JAB proposes to acquire 150 million shares of Coty

(+) EA (+4.3%) Apex Legends hits 25 million players in first week

(+) UAA (+6.4%) Q4 earnings top estimate, revenue just higher

DOWNSIDE MOVERS

(-) VRNS (-12.1%) Q1 outlook below Street views

(-) ESNC (-64.2%) Warns of possible bankruptcy

(-) ZAYO (-2.2%) Urged to explore a sale

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

COTY EA

Other Topics

Stocks

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More