All three major US stock indexes were in the green Tuesday, with the tech-heavy Nasdaq leading the way and hitting an all-time closing high.
We’ve got all the headlines, but first, the scoreboard:
- Dow: 23,377.97, +29.23, (+0.12%)
- S&P 500: 2,575.26, +2.33, (+0.09%)
- Nasdaq: 6,727.67, +28.71, (+0.43%)
- Under Armour got crushed after earnings. The sport apparel company saw its stock sink roughly 21% after posting mixed third quarter earnings and slashing guidance for the rest of the year. Under Armour now sees full-year adjusted earnings per share of $US0.18 to $US0.20, well below its previous forecast of $US0.37 to $US0.40.
- CME Group will launch futures products for bitcoin. The exchange giant said the futures trading will be open by the end of the year. The announcement also comes just a month after CME CEO Bryan Durkin said that the company would not get into bitcoin in the “short-term.”
- Rockwell Automation jumps after reports that it received a buyout offer from Emerson Electric. Rockwell confirmed it turned down an offer for $US107.50 per share in cash and 225 million shares of Emerson common stock. The deal would have been worth about $US27.5 billion.
- President Donald Trump laid out his timeline for tax reform the day before house GOP debut their bill. Trump said he wants the bill passed in the House by Thanksgiving and on his desk, finalised, by Christmas.
- Canada’s GDP unexpectedly went negative. Canada’s GDP fell by 0.1% month-over-month in August following the prior month’s flat reading of 0.0%. Economists were expecting GDP to tick up by 0.1%.