U.S. stocks followed the lead of European market on Tuesday and closed more than 1% lower across the board. Materials and technology names led the way down on the session. Elsewhere, the yield on the benchmark, 10-year U.S. Treasury note fell 6.4 basis points, to 2.137%. On the other hand, the CBOE S&P 500 Volatility index (VIX) gained more than 12% on Monday, to 22.48.
Horizon Pharma (HZNP) was the big loser of the session, falling 12%. The shares were downgraded at Brean Capital, to hold, from buy. On the other hand, Weatherford International (WFT) gained 11%, after cancelling a planned stock offering, with funds earmarked for acquisitions. In after-hours action, Heron Therapeutics (HRTX) is up some 30%, after posting solid clinical results for its post-operative pain treatment.
Looking ahead to Wednesday morning, we'll get a look at the weekly mortgage applications before the opening bell. Tomorrow is also Yom Kippur, which is typically met with lower trading volume.
David Peltier is the portfolio manager for Stocks Under $10 and Dividend Stock Advisor. Test drive with a free trial.
