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.