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Wall Street Resumes Trump-Rally Driving Dow Within Striking Distance of 20K

Stock futures were building on Tuesday's gains, setting the Dow Jones Industrial Average up to finally hit 20,000 after the open.

The Trump-rally was rekindled on Tuesday after the president signed executive orders to streamline regulations for "high-priority" infrastructure projects, and to resume construction on the Keystone and Dakota Access pipelines, driving industrial and material stocks sharply higher.

Fourth-quarter earnings are also encouraging investors with results from Dow component stock Boeing ( BA ) beating earnings and revenue estimates, while Alcoa ( AA ) and Novartis ( NVS ) missed on earnings but reported better-than-expected revenue.

In other corporate news, Cisco ( CSCO ) said it will acquire AppDynamics for $3.7 billion, Textron ( TXT ) is buying Artic Cat (ACAT) for $247 million, while Bob Evans (BOBE) is getting into the potato business by selling its restaurants to Golden Gate Capital for $565 million, and buying Pineland Farms Potato Company for $115 million.

-Dow Jones Industrial up 0.42%

-S&P 500 futures up 0.38%

-Nasdaq 100 futures up 0.48%

SENTIMENT

Nikkei up 1.43%

Hang Seng up 0.43%

Shanghai Composite up 0.22%

FTSE-100 up 0.41%

DAX-30 up 1.50%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: Higher

(+) Chip stocks: Higher

(+) Software stocks: Higher

(+) Hardware stocks: Higher

(+) Internet stocks: Higher

(+) Oil stocks: Higher

(+) Biotech stocks: Higher

(+) Drug stocks: Higher

(+) Financial stocks: Higher

(+) Retail stocks: Higher

(+) Industrial stocks: Higher

(+/-) Airlines: Flat

(+) Autos: Higher

UPSIDE MOVERS:

(+) ACAT (+41.18%) Agreed to be acquired by Textron ( TXT ) for $247 million

(+) BOBE (+14.29%) Will sell Bob Evans restaurants to Golden Gate Capital for $565 million and acquire Pineland Farms Potato Company

(+) LOGI (+13.73%) Reported better-than-expected fiscal Q3 results

(+) STX (+12.98%) Beat Q2 estimates and issued strong revenue forecast for Q3

(+) OREX (+3.85%) Launched Mysimba in Spain

DOWNSIDE MOVERS:

(-) HZN (-11.97%) Reported preliminary 2016 results, announced proposed offering of 4.03 million shares and $115 million in convertible notes

(-) TXT (-8.93%) Missed Q4 revenue and EPS estimates, acquiring Artic Cat

(-) NEWT (-4.74%) Reported a 1.5 million share offering

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.

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