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The Senate Health Committee will hold two hearings next month on stabilizing premiums in the individual insurance market, the panel’s chairman and top Democrat said Tuesday. The first, scheduled for Sept. 6, will feature state insurance commissioners, and the second, on Sept. 7, will have testimony from governors. The hearings come in the wake of the Senate’s failure last month to repeal and replace the Affordable Care Act, or Obamacare. Obamacare plans are sold on the individual market.

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From:: Stock Market News

Shares of DSW Inc. were on a tear on Tuesday, putting them on track to log their best one-day gain in the company’s 12-year history as a publicly traded entity on heavy volume. DSW’s stock was most recently trading up 21%, which would represent its best daily ascent since the Ohio-based shoe-retailer went public in June 2005. Its second best daily rise was a 16.9% rise May 24, 2011, according to FactSet data. The company was seeing nearly 8 million shares exchange hands, about 5 times its 30-day average of 1.7 million shares. Tuesday’s late-morning surge to an intraday peak of $19.39 also vaulted shares decisively above both their 50-day moving average at $17.40 and 100-day moving average at $18.22, with its 200-day, long-term average not far off at $20.08. Chart watchers consider moving averages dividing lines between uptrends and downtrends in an asset. DSW’s CEO Roger Rawlins said the company saw a significant increase in sales of regular-priced items in its second quarter and that consolidation in the industry may mean that the company has an opportunity to acquire market share moving forward. A bullish turn could help DSW, which has given up 16.4% year to date, trend higher. Comparatively, the S&P 500 index boasts a year-to-date climb of 9.2%, while the Dow Jones Industrial Average has climbed 10.5% so far in 2017.

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From:: Stock Market News

Shares of mining and metals companies were key gainers Tuesday, led by Freeport-McMoRan Inc. as copper prices hit a three-year high. Base metals prices have been on a tear as speculators and funds pour money into the asset class. Freeport shares gained 4.7%, bringing their week-to-date gains to 8.8%. Century Aluminum Co. gained 3.8%, Alcoa Corp. added 2.3% and Arconic Inc. rose 3.8%. BHP Billiton Ltd. was up 2.3% and Rio Tinto Plc added 2.3%. Teck Resources Ltd. rose 1.2%. The S&P 500 was up 0.6%.

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From:: Stock Market News

The largest exchange-traded fund to track Pakistan’s equity market fell on Tuesday, after President Donald Trump said the U.S. would pressure the country step up its fight against extremism. The Global X MSCI Pakistan ETF fell 0.6%, building on Monday’s 1.4% drop. With the day’s decline, the fund declined to its lowest level since June 2016. The fund has been a weak performer of late, and is on track for its eighth decline of the past 12 sessions. While it hit an all-time high in May, the $36 million fund has lost more than 20% of its value of the past three months. In a speech given on Monday night, Trump said he intended to step up the fight against extremists and Taliban forces in Afghanistan, a strategy that will include taking a harder line on Pakistan. “Pakistan has much to gain from partnering with our effort in Afghanistan,” he said. “It has much to lose by continuing to harbor terrorists.” For the year, the ETF is down 16.2%. To compare, the Dow Jones Industrial Average is up 10.4% over that period while the S&P 500 has risen 9.1%.

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From:: Stock Market News

Shares of companies in the defense industry rose on Tuesday, after President Donald Trump said he intended to step up the fight against extremists and Taliban forces in Afghanistan, something that could lead to increased military spending. The SPDR S&P Aerospace & Defense ETF , an exchange-traded fund that tracks the sector, rose 1%, while the PowerShares Aerospace & Defense Portfolio was up 0.6%. The iShares U.S. Aerospace & Defense ETF rose 0.8%. Among specific companies, Lockheed Martin Corp. rose 0.7% on the day while L3 Technologies Inc. was up 1.2% and Kratos Defense & Security Solutions Inc. climbed 2.2% as one of the biggest percentage gainers in the sector.

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Kirkland’s Inc. shares jumped 19% in Tuesday trading after the home decor retailer reported better-than-expected second-quarter earnings. The company’s net loss was $3.77 million, or 24 cents, compared with a loss of $3.57 million, or 22 cents per share, for the same period last year. The FactSet consensus was for a 28-cent loss. Sales for the quarter totaled $131.7 million, up from $123.0 million last year and ahead of the $126.0 million FactSet consensus. Same-store sales including e-commerce increased 1.2%, exceeding the 1% FactSet consensus. Kirkland’s sees fiscal 2017 EPS in the range of 50 cents to 65 cents. The FactSet consensus is 53 cents. And the retailer has approved a $10 million stock repurchase plan. Kirkland’s shares are down 35.7% for the year so far while the S&P 500 index is up nearly 9% for the period.

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From:: Stock Market News

U.S. stock-market indexes opened higher on Tuesday, with the S&P 500 and Dow industrials on track for a second straight day of advances. The Dow Jones Industrial Average opened 70 points, 0.3%, higher at 21,774. The S&P 500 was up 8 points, or 0.3%, to 2,436 at the open. The Nasdaq Composite index advanced 32 points, or 0.5% to 6,245. Among the best performers on Wall Street, retailer Macy’s Inc. rose nearly 3% after a management reshuffle. Among the worst performers, shares of Coty Inc. tumbled 10% following the beauty company’s quarterly earnings miss.

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From:: Stock Market News

J.C. Penney Co. Inc. said Tuesday that is is launching a new children’s bedding and decor brand, Frank + Lulu. The brand, which includes sheets, pillows and rugs, will be available exclusively at J.C. Penney, starting with 200 stores and online on September 1. J.C. Penney shares are up 0.8% in premarket trading, and down 57% for the year so far. The S&P 500 index is up 8.5% for 2017 to date.

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From:: Stock Market News