Stock Market Watch

Stocks End Sharply Higher on Earnings Optimism

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Stocks rose sharply in Tuesday’s trading session as a strong start to the U.S. corporate earnings season lifted investors’ sentiment.

The Dow Jones ended the day 0.56% higher at 12,462.47, the S&P 500 ended the day 0.89% higher at 1,292.08, and the Nasdaq ended the day 0.97% higher at 2,702.50.


All sectors in the S&P 500 ended the day in green. Basic Materials stocks led the gains in the S&P 500, ending the day 2% higher. Industrials also rose sharply on Tuesday, ending the day 1.67% higher. Financials ended the day 1.80% higher, while Energy stocks ended the day 0.71% higher. Consumer Cyclical stocks ended the day 1.35% higher. Transportation stocks ended the day 1.32% higher.

The earnings season was kicked off by aluminum producer Alcoa Inc. (NYSE: AA) after market close on Monday. The Pittsburg, Pennsylvania-based company posted better than expected fourth-quarter revenue. The company’s loss was in-line with estimates. Alcoa, which is the largest aluminum producer in the U.S., also gave a positive outlook for global aluminum demand this year. Alcoa shares rose to an intra-day high of $9.85 on Tuesday before ending the day 0.16% higher at $9.44.

Other major gainers in Tuesday’s trading session were Idenix Pharmaceuticals Inc. (NASDAQ: IDIX), which ended the day 24.22% higher at $12, Charles River Laboratories (NYSE: CRL), which ended the day 17.30% higher at $32.47, Bank of America Corporation (NYSE: BAC), which ended the day 5.74% higher at $6.63, Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX), which ended the day 4% higher at $40.60, Cirrus Logic Inc. (NASDAQ: CRUS), which ended the day 15.73% higher at $19.64, and Lululemon Atletica Inc. (NASDAQ: LULU), which ended the day 12.03% higher at $59.87.

European markets also rallied on Tuesday, with the EURO STOXX 50 Index ending the day 2.67% higher.

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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