Stocks end higher Tuesday as tech-sector gains offset Fed Chair Powell's warning that a U.S. recovery from the pandemic "continues to be highly uncertain."
Powell said before the House Financial Services Committee that "the path forward will depend on keeping the virus under control, and on policy actions taken at all levels of government.”
Meanwhile, Amazon surged after Bernstein analyst Mark Shmulik upgraded the company to outperform from market perform with an unchanged price target of $3,400
Here are some of the top stock gainers for Tuesday:
1. Carvana | Percentage Increase 30%
Carvana (CVNA) - Get Report shares were riding higher after the online car dealer said it expects to hit record performance in the third quarter for several earnings measures, including retail units sold, total revenue, total gross profit per unit and Ebitda margin.
2. Blueprint Medicines | Percentage Increase 13%
Blueprint Medicines (BPMC) - Get Report climbed after the biotech reported positive results from Phase 1 and Phase 2 clinical trials for Ayvakit, a therapy to treat a potentially fatal rare disease called systemic mastocytosis.
3. Blink Charging | Percentage Increase 13%
Blink Charging (BLNK) - Get Report shares rose after the electric-vehicle-charging network said it had sold or deployed 539 charging stations in the U.S. and internationally during the coronavirus lockdowns of June through August.
4. Bed Bath & Beyond | Percentage Increase 12%
Bed Bath & Beyond (BBBY) - Get Report advanced after the home-goods retailer identified the first 63 stores it will close by the end of the year as part of a restructuring plan brought on by coronavirus. The company first said in July that it planned to close 200 of its stores over the next two years.
5. GameStop | Percentage Increase 20%
GameStop (GME) - Get Report was up following reports that entrepreneur Ryan Cohen, who recently acquired a 10% stake in the videogame retailer, said he believed the company could rival Amazon.com (AMZN) - Get Report.