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Indicators

Strong gain in factory orders lift stocks

By: MarketMinute.com Market Updates

March 16, 2018 at 10:54 AM EDT

A strong 1.2% gain in factory output lifted the markets to a higher open with the Dow adding 4 points to 24,877. Nasdaq rose 23 points to 7504.

On the upside

Jabil (NYSE: JBL) reported higher second quarter earnings and revenue that topped analyst estimates.

Fourth quarter earnings and revenue climbed for Ulta Beauty (Nasdaq: ULTA).

Adobe (Nasdaq: ADBE) reported higher first quarter earnings and revenue that beat expectations.

On the downside

Tiffany & Co. (NYSE: TIF) reported lower fourth quarter earnings and forecast full year earnings below estimates.

Profit taking weighed down shares of Welltower (NYSE: HCN).

Fibria Celulose (NYSE: FBR) will merge with Suzano Papel e Celulose.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 3 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 added 3 points to 2,750. Bitcoin climbed $173 to $8,468.

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