S&P 500 Rises 1%; US Wholesale Inventories Fall In August

U.S. stocks traded higher midway through trading, with the Dow Jones gaining over 250 points on Tuesday.

The Dow traded up 0.81% to 33,876.62 while the NASDAQ rose 1.23% to 13,650.54. The S&P 500 also rose, gaining, 1.10% to 4,383.17.

Check This Out: Walgreens Likely To Report Lower Q4 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Leading and Lagging Sectors

Consumer discretionary shares rose by 1.4% on Tuesday.

In trading on Tuesday, energy shares fell by around 0.1%.

Top Headline

U.S. wholesale inventories fell 0.1% month-over-month in August.

Equities Trading UP

SMX (Security Matters) Public Limited Company SMX shares shot up 99% to $3.3841 after the company announced it secured a majority stake in True Gold Consortium.

Shares of Intrusion Inc. INTZ got a boost, shooting 46% to $0.5094. Intrusion has been awarded a $5 million agreement with a large telecommunications provider to provide Intrusion Shield support for its data centers.

Startek, Inc. SRT shares were also up, gaining 29% to $4.2191 as the company agreed to be acquired by funds managed by CSP Management Limited for $4.30 per share in cash.

Equities Trading DOWN

Akero Therapeutics, Inc. AKRO shares dropped 66% to $16.72 after the company reported a 36-week analysis of its Phase 2b SYMMETRY study evaluating the efficacy and safety of its lead product candidate efruxifermin.

Shares of Athersys, Inc. ATHX were down 47% to $0.16 after the company reported interim analysis results of MASTERS-2 clinical study with multistem in ischemic stroke and signed a Memorandum of Understanding for global ARDS license with Healios.

Ventyx Biosciences, Inc. VTYX was down, falling 24% to $22.95 after the company announced results from the Phase 2 trial of VTX002 in patients with moderate-to-severely active ulcerative colitis.

Also Check This Out: Check Out 3 High-Yielding Dividend Stocks In Energy Sector From Wall Street's Most Accurate Analysts

Commodities

In commodity news, oil traded down 1% to $85.53 while gold traded up 0.3% at $1,869.50.

Silver traded up 0.2% to $21.96 on Tuesday while copper fell 0.9% to $3.6145.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 1.8% London’s FTSE 100 gained 1.74% while Spain’s IBEX 35 Index rose 2.3% The German DAX rose 1.86% French CAC 40 climbed 1.84%, while Italy’s FTSE MIB Index gained 2.3%.

Industrial production in Italy rose 0.2% month-over-month in August following a revised 0.9% fall in July. Retail sales in the UK rose 2.8% from a year ago in September.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 2.43%, China’s Shanghai Composite Index falling 0.70% and Hong Kong’s Hang Seng Index gaining 0.84%. India’s S&P BSE Sensex, meanwhile, rose 0.9%.

Japan's current account surplus narrowed to JPY 2.280 trillion in August from JPY 2.772 trillion in the prior month, compared to market estimates of JPY 3.091 trillion.