Investing.com – U.S. stocks advanced after the open on Tuesday, as shares in the financial sector performed strongly and market sentiment was boosted by upbeat corporate earnings reports..
During early U.S. trade, the Dow Jones Industrial Average rose 0.31%; the S&P 500 index climbed 0.41%, while the Nasdaq Composite index added 0.26%.
Shares in the financial sector performed strongly. Shares in the second largest U.S. lender JP Morgan-Chase climbed 1.28%, global financial service provider Goldman Sachs saw shares jump 1.40%, while U.S. listed shares of Spain’s biggest bank Banco Santander soared 2.36%.
Meanwhile, in earnings news, shares in software maker Adobe Systems soared 6.15% after the company said its fiscal fourth quarter revenue jumped by 33% to USD1 billion, beating analyst expectations for revenue of USD988 million. The company lifted its full-year earnings outlook, citing “strong demand” for its software products.
Shares in electronic circuit board manufacturer Jabil Circuit rallied 7.45% after it said fiscal first quarter profit soared by 73% to USD106.7 million, compared to USD28.3 million a year earlier.
Elsewhere, shares in the world’s largest cruise vacation company Carnival Corporation jumped 3.38% after it said fourth quarter net income rose to USD248 million, compared to USD193 million a year earlier.
In deal news, shares in Canada’s second-largest lender TD Bank climbed 1.91% after it agreed to acquire Chrysler Financial Group from private equity firm Cerberus in a deal valued at approximately USD6.3 billion.
Elsewhere, shares in Martek Biosciences, a U.S. maker of nutritional ingredients for baby food, soared 35.70% after it agreed to be acquired by the world’s largest maker of vitamins Royal DSM for approximately USD1.09 billion.
In the commodity sector shares were broadly higher after crude oil and metal prices advanced.
Shares in oil and gas giant Royal Dutch Shell gained 0.97%, U.S. listed shares of mining giants BHP Billiton added 1.67%, while shares in metal producer Freeport McMoran Copper & Gold climbed 1.01% after copper prices rose to a record high.
Across the Atlantic, European stock markets posted sharp gains. The EURO STOXX 50 surged 1.19%, France’s CAC 40 jumped 1.02%, Germany's DAX climbed 0.81%, while Britain's FTSE 100 added 0.85%.
Earlier in the day, markets took in stride news that ratings agency Moody’s placed Portugal’s A1 sovereign credit rating on review for possible downgrade.
During early U.S. trade, the Dow Jones Industrial Average rose 0.31%; the S&P 500 index climbed 0.41%, while the Nasdaq Composite index added 0.26%.
Shares in the financial sector performed strongly. Shares in the second largest U.S. lender JP Morgan-Chase climbed 1.28%, global financial service provider Goldman Sachs saw shares jump 1.40%, while U.S. listed shares of Spain’s biggest bank Banco Santander soared 2.36%.
Meanwhile, in earnings news, shares in software maker Adobe Systems soared 6.15% after the company said its fiscal fourth quarter revenue jumped by 33% to USD1 billion, beating analyst expectations for revenue of USD988 million. The company lifted its full-year earnings outlook, citing “strong demand” for its software products.
Shares in electronic circuit board manufacturer Jabil Circuit rallied 7.45% after it said fiscal first quarter profit soared by 73% to USD106.7 million, compared to USD28.3 million a year earlier.
Elsewhere, shares in the world’s largest cruise vacation company Carnival Corporation jumped 3.38% after it said fourth quarter net income rose to USD248 million, compared to USD193 million a year earlier.
In deal news, shares in Canada’s second-largest lender TD Bank climbed 1.91% after it agreed to acquire Chrysler Financial Group from private equity firm Cerberus in a deal valued at approximately USD6.3 billion.
Elsewhere, shares in Martek Biosciences, a U.S. maker of nutritional ingredients for baby food, soared 35.70% after it agreed to be acquired by the world’s largest maker of vitamins Royal DSM for approximately USD1.09 billion.
In the commodity sector shares were broadly higher after crude oil and metal prices advanced.
Shares in oil and gas giant Royal Dutch Shell gained 0.97%, U.S. listed shares of mining giants BHP Billiton added 1.67%, while shares in metal producer Freeport McMoran Copper & Gold climbed 1.01% after copper prices rose to a record high.
Across the Atlantic, European stock markets posted sharp gains. The EURO STOXX 50 surged 1.19%, France’s CAC 40 jumped 1.02%, Germany's DAX climbed 0.81%, while Britain's FTSE 100 added 0.85%.
Earlier in the day, markets took in stride news that ratings agency Moody’s placed Portugal’s A1 sovereign credit rating on review for possible downgrade.