U.S. stock market indexes opened in the green on Tuesday. The Standard & Poor's 500 and Dow Jones hit new intraday highs in early trading while the Nasdaq rose 0.05% to reach a record high on the back of economic data, including the 60.8% reached by the ISM manufacturing survey for September which inched up from the August figure.
Lennar Corp.(LEN, Financial)’s stock increased by 4% on the back of the company reporting its financial results for the third quarter. The company posted earnings of $249.2 million, or $1.06 per diluted share. Further, the company posted revenue of $3.26 billion in the trimester, an increase of 15.2%, when compared to the prior-year quarter. Lennar beats earnings by 5 cents and revenue by $40 million.
CEO Stuart Miller said the results were supported by strong demand for homes, low unemployment, favorable interest rates and increased consumer confidence.
Gainers
• Sherwin-Williams Co. (SHW, Financial).
• Lennar”‹.
• General Motors Co. (GM, Financial).
• Ford Motor Co. (F, Financial).
• Delta Air Lines Inc. (DAL, Financial)”‹.
• Allergan PLC (AGN, Financial).
Losers
• F5 Networks Inc. (FFIV, Financial).
• CSRA Inc. (CSRA, Financial).
• Chesapeake Energy Corp. (CHK, Financial).
• Coach Inc. (COH, Financial).
• Seagate Technology PLC ”‹(STX, Financial).
• Campbell Soup Co. ”‹(CPB, Financial).
Global markets
The main European stock markets traded mostly higher. The FTSE 100 gained 0.39%, France's CAC 40 climbed 0.30% and Germany’s DAX was up 0.58%, but the IBEX 35 fell 0.09% ahead of the Catalan referendum, which turned into violent episodes between voters and police.
In Asia, Hong Kong’s Hang Seng Index gained 2.25%, China’s Shanghai Composite Index rose 0.28%, Japan’s Nikkei 225 increased 1.05% and India’s BSE Sensex swelled 0.68%.
Disclosure: The author holds no positions in any stocks mentioned.
