Leading stocks ended the day mixed as a sell-off in utilities and energy shares overpowered upbeat results from Wal-Mart Stores (NYSE:WMT) and Home Depot (NYSE:HD).
At the close in New York, the S&P 500 (INDEXSP:.INX) was down 0.1% at 2,050. The Dow Jones Industrial Average (INDEXDJX:.DJI), rose seven points to 17,490. The Nasdaq Composite (INDEXNASDAQ:.IXIC), also edged up, adding a point at 4,986.
Wal-Mart Stores (NYSE:WMT) gained 3.5% to $59.88 after the world's largest retailer posted stronger-than-expected fiscal third-quarter earnings and upped the low end of its annual guidance.
Home Depot (NYSE:HD) advanced 3.9% to $125.55 after the world's largest home-improvement chain delivered quarterly earnings that topped analysts' expectations on Tuesday, helped by strong demand from professional contractors and builders.
ON FRONT FOOT
Wall Street shares began to motor forward as traders shrugged off macro fears.
The benchmark Dow is up 81 at the time of writing to 17,564, while the Nasdaq added 28 to 5,013.
The broader based S&P500 gained ten points to stand at 2,063.
On the winning front, Nuance Comms (NASDAQ:NUAN) was a notable gainer - surging over 14% as traders hailed fourth quarter earnings, which beat analysts' expectations.
The voice and language solutions firm posted Q4 earnings of 41 cents per share, while revenue increased to $504.1 million, up from $502.3 million a year ago. Analysts had expected revenue of US$507.84 million.
Conveserly, Dick’s Sporting Goods (NYSE:DKS) dived on Tuesday as the retailer slashed its earnings guidance after a disappointing quarter.
The Pittsburgh-based chain reported a profit of US$47.2mln, or 41 cents a share in the latest quarter, down from a profit of US$49.2mln, or 41 cents, the previous year.
Enzo Biochem (NYSE:ENZ) added over 8% after the life science and biotechnology company unveiled New York state's approval of its first assay based on Ampiprobe platform for the quantitative detection of Hepatitis C virus,
Propanc Health gained over 5% as it told investors it was 'thrilled' with the results of recent studies, where it achieved significant tumor growth inhibition in pancreatic and ovarian cancers using its PRP candidate.
STRUGGLING FOR DIRECTION
Wall Street is struggling for direction on Tuesday as traders weigh upbeat earnings report from Wal-Mart Stores and TJX and a host of mixed economic reports.
At 10:18 a.m. in New York, the S&P 500 (INDEXSP:.INX) is down less than 0.1% at 2,052. The Dow Jones Industrial Average (INDEXDJX:.DJI), similarly, is down less than 0.1% at 17,477. The Nasdaq Composite (INDEXNASDAQ:.IXIC), on the other hand, is up less than 0.1% at 4,985.
Consumer prices rose for the first time in three months, while industrial production dropped in October. The Labor Department said its Consumer Price Index increased 0.2% last month, reversing September's 0.2% drop. The Federal Reserve said industrial production fell 0.2% last month after an unrevised 0.2% drop in September.
Wal-Mart Stores (NYSE:WMT) gained 2.9% to $59.54 after the world's largest retailer posted stronger-than-expected fiscal third-quarter earnings and upped the low end of its annual guidance.
TJX (NYSE:TJX) jumped 4.2% to $68.25 after the owner of off-price chains TJ Maxx and Marshalls reported a 5.3% rise in quarterly sales, as more bargain-hungry shoppers visited its stores.
US PREVIEW
US shares are set to start on the front foot as traders put the terror and unease of the Paris attacks to one side.
Futures trading have the benchmark Dow Jones 67 points ahead, with the S&P500 around nine points higher and the tech heavy Nasdaq index 19 points to the good.
Yesterday, stocks on Wall Street rebounded, snapping a three-session losing run, paced by energy shares amid bets that any fallout from Friday’s terrorist assaults would have a limited economic impact.
The Dow closed an impressive 237 points higher at 17,488, while the Nasdaq added around 56 points to 4,984.
The S&P500 added around 40 points to stand at 2,053 at the close of trading.
Last night, Asian stocks rose their most in three weeks, with the Nikkei 225 adding 237 points, while the Hang Seng gained 253 to go to 22,264.
Ahead of the bell are more earnings from retailers, including Asda owner Walmart (NYSE: WMMVF), Home Depot (NYSE:HD), and Dick's Sporting Goods (NYSE: DKS).
Shares in Urban OutFitter (NYSE:URBN) plunged over 11% after hours after its quarterlies disappointed.
Amazon (NASDAQ:AMZN) is up 0.49% in pre-market after news it had expanded Launchpad - the platform for startup firms to sell products to the UK and work with "crowdfunding platforms and venture capitalists.