The Russell 2000 jumped strongly on Tuesday while the Nasdaq edged lower in a mixed day of trading with stocks bouncing around on various headlines from Iran and Russia. In economic data, US pending home sales fell to the lowest since the financial crisis. Interestingly, home builders were some of the strongest stocks in the S&P 500 as the market looks towards the next cycle.
- S&P 500 +0.3%
- Nasdaq Composite -0.1%
- Russell 2000 +1.75%
Among the winners:
- WDC +3.5%
- AAL +3.3%
- INTU +3.0%
- LEN +3.6%
Among the losers:
- NFLX -6.1%
- MU -1.0%
- META -1.7%
- GOOGL -1.3%
After hours, United Airlines reported earning that missed estimates and are quickly down to $94.56 from $98.00. The company reported adjusted EPS of $2.54 compared to the $2.57 estimate while revenues were in-line at $17.90 billion. The company also offered a tough guide on Q4 at $0.50-$1.50 compared with the consensus of $1.76.
Russell 2000 daily:
SpaceX earnings also just hit and shares are up 2% on this:
• Revenue: $14.58B (est $12.87B)
• Adj EBITDA: $8.81B (est $6.59B)
• Oper Income: $2.79B (est $2.24B)
• CapEx: $19.59B (est $19.60B)
• Total Costs & Expenses: $11.78B (est $11.23B)
This article was written by Adam Button at investinglive.com.