Crude Oil Gains 1%; Walgreens Posts Upbeat Earnings

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 2% on Tuesday.

The Dow traded up 2.48% to 38,907.32 while the NASDAQ climbed 2.43% to 15,982.51. The S&P 500 also rose, gaining, 2.38% to 5,182.79.

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Leading and Lagging Sectors

Information technology shares surged by 3.7% on Tuesday.

In trading on Tuesday, utilities shares rose by just by 1.1%.

Top Headline

Walgreens Boots Alliance Inc WBA on Tuesday reported better-than-expected earnings for its second quarter.

The company posted second-quarter sales of $38.59 billion, up 4.1% year over year (+4.7% on constant currency), beating the consensus of $38 billion, reflecting sales growth in the U.S. Retail Pharmacy and International segments. Adjusted EPS was 63 cents, down from $1.20 a year ago (47.5% decline), beating the consensus of 53 cents, according to data from Benzinga Pro.

Walgreens Boots Alliance withdrew its 2025 guidance under the M&A deal with Sycamore Partners. The merger is expected to close in the fourth quarter of calendar year 2025.

Equities Trading UP

NextDecade Corporation NEXT shares shot up 23% to $7.33 after the company announced a 20-year LNG sale and purchase agreement to supply 1.2 million tonnes per year to a subsidiary of Saudi Aramco.
Shares of 60 Degrees Pharmaceuticals, Inc. SXTPgot a boost, surging 109% to $3.7395 after the company announced a patent license agreement with Yale’s School of Medicine and Public Health for the development and commercialization of Tafenoquine.
Cycurion, Inc. CYCU shares were also up, gaining 37% to $0.61 after the company announced an expanded partnership with Journal Technologies and a $22 million multi-year contract with a state police agency.

Equities Trading DOWN

Bluejay Diagnostics, Inc. BJDX shares dropped 57% to $3.2291 after the company announced entry into warrant inducement transaction for approximately $3.7 million in gross proceeds.
Shares of Tilray Brands, Inc. TLRY were down 8% to $0.5319. The company's third-quarter net revenue decreased from $188.3 million to $185.8 million, missing the consensus of $210.45 million.
CVRx, Inc. CVRX was down, falling 40% to $6.96 after Canaccord Genuity cut its price target on the stock from $23 to $18.

Commodities

In commodity news, oil traded up 1.3% to $61.47 while gold traded up 1.8% at $3,026.10.

Silver traded up 2.7% to $30.415 on Tuesday, while copper rose 0.8% to $4.2205.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 3.67%, Germany's DAX 40 gained 3.17% and France's CAC 40 climbed 3.54%. Spain's IBEX 35 Index rose 3.11%, while London's FTSE 100 gained 3.54%.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan's Nikkei 225 gaining 6.03%, China's Shanghai Composite gaining 1.58%, Hong Kong's Gang Seng index rising 1.51% and India's BSE Sensex gaining 1.49%.

Economics

The NFIB Small Business Optimism Index declined 3.3 points to a reading of 97.4 in March, recording its weakest level since October 2024 and down from market estimates of 101.3.

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