U.S. markets were mixed in Tuesday's session. At the closing bell, the Dow Jones Industrial Average gained 0.35% and the S&P 500 moved 0.2% higher, while the Nasdaq Composite fell 0.2%.
Energy names led the way higher, while technology stocks lagged. The energy sector rallied along with the price of crude oil, which gained more than 2% and has now moved higher in six of the past seven trading sessions. Elsewhere, the yield on the benchmark 10-year Treasury note fell 3 basis points, to 1.897%
Avon Products (AVP) was the big winner of the session, gaining more than 14%. The Wall Street Journal reported earlier today that the company was considering selling its North American operations.
In after-hours action, Intel (INTC) was trading 3% higher, after reporting quarterly results. The company earned $0.41 per share in the first quarter on $12. 8 billion of revenue, which met expectations. Looking ahead to the second quarter, management expects revenue of $13.2 billion, plus or minus $500 million. Gross margin is expected to be around 62%, plus or minus a couple of percentage points.
Railroad operator CSX (CSX) was also moving 3% higher after hours on its earnings report and a new $2 billion share buyback program. It also boosted its quarterly dividend 13%.
Later tonight, two biotech companies, Cidara Therapeutics (CDTX) and XBiotech (XBIT), are expected to price their initial public offerings.
Looking ahead to Tuesday morning, Bank of America (BAC) and Delta (DAL) headline the earnings calendar. On the economic front, we'll get a look at weekly mortgage applications, the Empire manufacturing index, industrial production and capacity utilization before the opening bell.