Stocks Trade Marginally Higher in US Intraday as Telecoms, Financials Advance

Stocks in the US were making slight moves higher on Tuesday afternoon, with telecoms and financials adding support on the Standard & Poor’s 500 while the Dow Jones Industrial Average saw just over half of its components advance.

Goldman Sachs (GS) and Verizon (VZ) both rose about 1.4% as their respective sectors increased. AT&T (T) gained 1.5% and Wells Fargo (WFC) increased 1.4%. On the S&P 500, seven of the 11 groups advanced. Information technology and materials both edged down about 0.1%.

Earlier economic data provided some support, when factory orders jumped 2.7% in October, matching analysts’ projections, while September was revised upward to +0.6% from +0.3% previously. However, the US trade deficit was $42.6 billion from a revised gap of $36.2 billion in September.

Bob Evans (BOBE) gained 6.9% after topping expectations on quarterly earnings and boosting its 2017 profit range. Chipotle Mexican Grill (CMG) dropped 7.9% after Bloomberg reported the company’s co-chief executive officer, Steve Ells, as saying he was not satisfied about the pace of recovery from last year’s E.coli outbreak.

Francesca’s (FRAN) surged 25% after saying its fiscal third quarter results were better-than-expected and the company raised its 2016 outlook above forecasts compiled by Capital IQ.

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