US Equity Markets Higher Amid Gains in Industrials, Financial Stocks

MT Newswires Live
02/18

US equity indexes were edging higher Tuesday amid gains in industrials and finance-related stocks.

* The National Association of Home Builders' monthly housing market index fell to 36 in February from 37 in January, falling below analyst expectations of 38, according to a Bloomberg-compiled survey.

* The New York Federal Reserve's Empire State manufacturing index dropped to 7.1 in February from 7.7 in January, while analysts polled by Bloomberg expected a minus 6.2.

* March West Texas Intermediate crude oil fell $0.59 to settle at $62.30 per barrel, while April Brent crude, the global benchmark, was last seen down $1.27 at $67.38.

* Elliott Investment Management has built a more than 10% stake in Norwegian Cruise Line (NCLH) and plans to push the cruise operator to improve performance, The Wall Street Journal reported. Shares of the company were up about 12%

* Genuine Parts (GPC) shares dropped roughly 15%, the worst performer on the S&P 500, after the company reported lower Q4 adjusted earnings. The company also confirmed a plan to separate its automotive and industrial parts groups into two publicly traded entities.

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