S&P 500 top movers: ALGN gains 10% after SVB Leerink raises price target

• S&P 500 clings to modest daily gains on Tuesday.
• Investors are waiting for Pres. Trump to deliver a news conference on China.

Major equity indexes in the US started the second day of the week on a mixed note but gained traction in the second half of the session.

Investors continue to weigh the second-quarter earnings figures against heightened geopolitical tensions and coronavirus cases in the US. Later in the day, US President Donald Trump is scheduled to hold a news conference related to Hong Kong and China.

As of writing, the S&P 500 was up 0.6% on the day at 3,174, the Dow Jones Industrial Average was gaining 1.4% and the Nasdaq Composite was virtually unchanged at 10,392.

S&P 500 top movers

Earlier in the day, SVB Leerink announced that it has raised the price target for Align Technology Inc (ALGN)  to $310 from $260. Boosted by this development, ALGN surged higher and was last seen gaining 10% as the top-performer on the day at $297.10. HanesBrands Inc (HBI) and Noble Energy Inc (NBL) shares are both up 8.6% on Tuesday.

On the other hand, Mohawk Industries Inc (MHK) shares are down 6.6% at $71.50 and Ross Stores Inc (ROST) shares are losing 6.6%.