Major U.S. stock market indexes rose during Monday midday trading after ongoing optimism about a trade deal between the U.S. and China.
The S&P 500 is up 0.5% in midday trading to 3,038.34; the Dow Jones Industrial Average rose 0.3% to 27,038.77; and the Nasdaq climbed 1% to 8,321.74.
The yield on a 10-year Treasury bond surged 2.6% to 1.85%.
The price of gold fell 0.7% to $1,495.
The price of oil plummeted 1.4% to $55.85 a barrel.
MANUFACTURING
Foothill Ranch’s Kaiser Aluminum Corp. (Nasdaq: KALU) jumped 7.2% to $107.98 and a $1.7 billion market cap. Shares for the aluminum producer have risen about 11% since it reported strong third quarter results last week that included “new records for value added revenue,” Chief Executive Jack Hockema said in a statement.
HEALTHCARE
Ensign Group Inc. (Nasdaq: ENSG) increased 3.8% to $42.21 and a $2.3 billion market cap. The Mission Viejo-based healthcare facilities operator is expected to report a jump in earnings on higher revenues when it posts results for the third quarter on Thursday. Zacks analysts expect the company to post quarterly earnings of 56 cents per share, up nearly 22%, boosted by a 17% jump in revenues to about $600 million. Shares are up about 16% since the start of the year.
Irvine-based Endologix Inc. (Nasdaq: ELGX) plunged 18% to $2.93 and a $52 million market cap; the share price is a new 52-week low for the company, which is slated to report third quarter financial results Nov. 6. Shares for the medical device maker, trading today at about three times their average volume, are down about 60% since the start of the year.
