U.S. stock markets are set to open high on Tuesday after the Empire State manufacturing fell index to 17.7 in January from 19.6 the previous month. Despite the fall, the index remains in a level which indicates solid growth.
Shares of General Motors Company (GM, Financial) traded 2.75% higher in the premarket Tuesday session after the company said it expects 2017 adjusted earnings per share at the high end of its guidance range of $6.00 to $6.50, compared with the consensus estimates of $6.29.
Further, the automaker plans not only to strengthen its North America and China operations but also those in South America.
Moreover, the tax reform should benefit the auto industry as well as the long-term cash tax position.
Gainers
• Merck & Co. Inc. (MRK, Financial)
• Applied Materials Inc. (AMAT, Financial)
• Digital Realty Trust Inc. (DLR, Financial)
• Align Technology Inc. (ALGN, Financial)
• American Tower Corp. (AMT, Financial)
Losers
• Under Armour Inc. (UA, Financial)
• General Electric Co. (GE, Financial)
• Unum Group”‹ (UNM, Financial)
• Alliance Data Systems Corp. (ADS, Financial)
• CF Industries Holdings Inc. (CF, Financial)
Global Markets
The main European stock markets traded mostly higher. The U.K.'s FTSE lost 0.14%, but France's CAC gained 0.28%, Germany's Dax advanced 0.96% and Spain's Ibex jumped 0.87%.
In Asia, Japan's Nikkei advanced 1.00%, Hong Kong's Hang Seng gained 1.81% and China's SSE Composite jumped 0.77%, while India’s BSE Sensex fell 0.21%.
Disclosure: The author holds no positions in any stocks mentioned.
