The Nasdaq composite added 33 points, or 0.7 percent, to 5,018.
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October industrial production slid 0.2% and the production was unchanged from September. The retailer recorded about a 10% increase in e-commerce sales and gross merchandise volume. Utility output slid 2.5%, the U.S. Federal Reserve Bank reported.
GE rose 1.6 percent to $30.84.
Airline, retail, and computer hardware stocks are also seeing significant strength, while gold stocks are moving lower along with the price of the precious metal.
SECTOR VIEW: Eight of the 10 sectors in the S&P 500 index were up, led by consumer discretionary stocks. Declining issues outnumbered advancing ones on the NYSE by 1,629 to 1,038.
Same-store sales, which are a key measure of a retailer’s health, rose 5.1 percent.
Net income rose 12% to $1.7 billion, but a falling share count helped that gain translate into a 17% EPS bounce, up to $1.35 per share.
TJX, parent of the discount department stores TJ Maxx and Marshall’s, gained 3.9 percent after reporting earnings of 86 cents per share, a penny above expectations behind a 5.2 percent gain in revenues to $7.8 billion.
Meanwhile, US 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.
Same-store sales grew 5.1%, topping Retail Metrics’ 4.4% estimate. The major averages have all climbed into positive territory, adding to the strong gains posted in the previous session.
Profit in the three months through November 1 was $1.36 a share, excluding a few items, the Atlanta-based company said Tuesday in a statement. Japan’s Nikkei 225 Index and Hong Kong’s Hang Seng Index both surged up by 1.2 percent, while Australia’s All Ordinaries Index jumped by 2.2 percent.
In Paris, CAC 40 index soared 114.21 or 2.4% to 4,918.52. It has outperformed the S&P500, which has gained 0.02% in the same time period.
Increasing returns on capital, signs of improving customer service during recent store visits, rising home prices and impressive execution of the business plan support Argus’s conviction that even after raising the operating margin by approximately 400 basis points over the past four years, Home Depot still has room to increase earnings and profitability. The firm’s revenue was up 6.4% compared to the same quarter a year ago.
The discount airline forecasted the fuel bill for the fiscal 2016 to decline between £140 million and £160 million. Core results are tracking ahead, but FX also appears higher than expected, and Interline’s contribution may be slightly less due to the timing of the deal closing.
GNC Holdings plunged 24 percent, Vitamin Shoppe fell almost 8 percent and Herbalife 3 percent.
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The acquisition is part of the companys efforts to expand its reach in the Latin America and the Caribbean. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
