three main Wall Street indexes jumped more than 1% on Tuesday
after China stepped in to steady the yuan, easing fears that
currencies would be the next weapon in the trade war between the
United States and China.
Despite Tuesday's gains, the benchmark S&P 500 <.SPX> is still
about 5% away from the record high it hit last month.
Shares of technology companies, including Apple Inc <AAPL.O> and
chipmakers, were higher before the bell. The iPhone maker's
shares rose 0.8%, while those of Intel Corp <INTC.O>, Advanced
Micro Devices Inc <AMD.O> and Nvidia Corp <NVDA.O> gained more
At 6:56 a.m. ET, Dow e-minis <1YMcv1> were up 87 points, or
0.34%. S&P 500 e-minis <EScv1> were up 9.5 points, or 0.33% and
Nasdaq 100 e-minis <NQcv1> were up 40.25 points, or 0.54%.
With the second-quarter earnings season winding down, about
three quarters of the 413 S&P 500 companies that have reported
results so far have topped earnings estimates.
Match Group Inc <MTCH.O> jumped 18% after the online dating
services provider forecast third-quarter sales above estimates,
as its popular app Tinder attracted more users in the reported
Walt Disney Co <DIS.N> dropped 3.6% after its quarterly earnings
missed analysts' forecast as the company invested heavily in its
streaming platform and began folding in assets purchased from
Twenty-First Century Fox.
Cambrex Corp <CBM.N> soared 45% after the contract development
and manufacturing company said it was being bought by an
affiliate of private equity firm Permira Funds for about $2.02
(Reporting by Medha Singh in Bengaluru; Editing by Anil D'Silva)
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