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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.

Benzinga · 02/04/2020 15:14

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 (NASDAQ: PAHC), up 8%, and Sundial Growers Inc. (NASDAQ: SNDL), up 13%.

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

Top Headline

On Monday, Alphabet Inc (NASDAQ: 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. (NYSE: 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 (NASDAQ: 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. (NASDAQ: ALLT) shares were also up, gaining 21% to $11.72 after the company reported upbeat Q4 results.

Equities Trading DOWN

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

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

Lianluo Smart Limited (NASDAQ: 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.