Major US stock indexes veered higher in midday trading Tuesday, getting a lift from encouraging quarterly results from Wal-Mart Stores, Home Depot and other big retailers.
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PARIS: Investors restored calm after sell-offs during the first trading session following the attacks in Paris that left 129 people dead and more than 350 injured.
The S&P 500 index turned negative, closing off 2.75 points, or 0.1%, at 2,050.44.
EasyJet Plc declined 4.2% to 1,709 pence after the U.K.-based low-priced airline reported revenues in the year ending in September jumped 3.5% from year ago to £4.67 billion. In fact, the retailer’s 14% operating margin pushed it into record territory for the company. The Nasdaq composite added 33 points, or 0.7 percent, to 5,018. He said the geopolitical risk and a drop in crude prices are combining to create a “cocktail that’s being brewed for risk assets” that “is pretty sour”.
Meanwhile, USA stock indexes opened higher as better-than-expected earnings from Wal-Mart and Home Depot allayed fears of a retail slowdown after last week’s sharp selloff in the sector.
Builders’ confidence rose to a near 10-year high in October, according to a survey released last month. Hong Kong’s Hang SengHSNGY -1.90 % Index rose 1.2%.
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“It’s a pretty finely balanced judgment though”. Previously, the company projected per-share earnings between $5.31 and $5.36.
The Dow Jones industrial average was little changed at 17,484 as of 10:13 a.m. Eastern Time. Global stock markets were mostly higher today, as investors looked past last week’s attacks in Paris.
The report said the NAHB/Wells Fargo Housing Market Index fell to 62 in November from an upwardly revised 65 in October. Any reading over 50 signals improvement. The minutes could push stocks lower if policy makers appear comfortable with the notion of raising interest rates in December.
Stocks to watch: Airgas, Inc. The previous full year guidance was for earnings of between $4.40 and $4.70 per share.
Fellow Dow member Home Depot gained 3.2 percent after reporting that third-quarter earnings surged 12.2 percent to $1.7 billion.
Other retailers including TJX Cos also surprised on the upside.
Home Depot Inc. reported its profit rose 12.2 percent in its fiscal third quarter as sales gained ground on the back of the strong recovery seen in the housing market in the USA economy which is being seen as a huge positive by analysts and investors on the street. 4,625,116 shares of the company traded hands. David Einhorn (http:// www.marketwatch.com/story/hedge-fund-titan-einhorn-boosts-apple-stake-slashes-sunedison-2015-11-16) boosted his stake in Apple Inc.(AAPL), General Motors Inc.(GM) and Michael Kors Holdings Ltd.(KORS). He cut holdings of SunEdison Inc.(SUNE) and Micron Technology Inc.(MU).
US stocks erased gains on Tuesday after a report that a soccer match between Germany and Netherlands was called off due to concerns of a bomb attack.
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Seven of the 10 major S&P sectors fell, with the utilities sector’s 1.9 percent drop leading the decliners.
