Mid-Morning Market Update: Markets Open Higher; Alphabet Reports Mixed Q4 Results

Following the market opening Tuesday, the Dow traded up 1.47% to 28817.41 while the NASDAQ rose 1.44% to 9407.15. The S&P also rose, gaining 1.38% to 3,293.85.

Leading and Lagging Sectors

Health care shares climbed 2% on Tuesday. Meanwhile, top gainers in the sector included Phibro Animal Health Corporation PAHC, up 8%, and Sundial Growers Inc. SNDL, up 13%.

In trading on Tuesday, communication services shares fell 0.4%.

Top Headline

On Monday, Alphabet Inc GOOGL reported better-than-expected earnings for its fourth quarter, while sales missed estimates.

Alphabet reported quarterly earnings of $15.35 per share, which beat the analyst consensus estimate of $12.53. The company reported quarterly sales of $46.075 billion, which missed the analyst consensus estimate of $46.94 billion.


Equities Trading UP

Myomo, Inc. MYO shares shot up 93% to $11.67 after the company's MyoPro was approved for reimbursement by German health insurer BARMER.

Shares of CLPS Incorporation CLPS got a boost, shooting up 22% to $3.71 after the company reported establishment of new company, Qinson Credit Card Services, to cater to credit card service demands of financial industry.

Allot Ltd. ALLT shares were also up, gaining 21% to $11.72 after the company reported upbeat Q4 results.


Equities Trading DOWN

Aethlon Medical, Inc. AEMD shares tumbled 23% to $2.68 after falling 20.1% on Monday.

Shares of EZCORP, Inc. EZPW were down 23% to $5.18 after reporting weak Q1 results.

Lianluo Smart Limited LLIT was down, falling 20% to $1.71 after declining 26.1% on Monday.

Commodities


In commodity news, oil traded up 1.1% to $50.66, while gold traded down 0.6% to $1,573.70.

Silver traded up 0.2% Tuesday to $17.71, while copper rose 2% to $2.558.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 1.1%, the Spanish Ibex Index rose 1.3%, while Italy’s FTSE MIB Index rose 1.5% Meanwhile, the German DAX gained 1.2%, and the French CAC 40 rose 1.3% while UK shares rose 1.3%.

Economics

The Johnson Redbook Retail Sales Index rose 5.7% year-over-year for the week ended February 1.

U.S. factory orders rose 1.8% in December, versus a revised 1.2% fall in November.

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Posted In: EarningsNewsEurozoneCommoditiesGlobalIntraday UpdateMarketsMid-Morning Market Update
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