Crude Oil Falls Sharply; Datadog Shares Spike Higher

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 1% on Tuesday

The Dow traded up 0.21% to 34,166.89 while the NASDAQ rose 1.09% to 13,666.65. The S&P 500 also rose, gaining, 0.41% to 4,383.80.

Check This Out: Top 4 Industrial Stocks That Could Sink Your Portfolio In November

 

Leading and Lagging Sectors

 

Information technology shares jumped by 1.2% on Tuesday.

In trading on Tuesday, energy shares fell by 2.2%.

 

Top Headline

 

Uber Technologies, Inc UBER reported an increase in sales for the third quarter.

The company’s third-quarter revenue increased 11% year-over-year to $9.29 billion, missing the consensus of $9.52 billion. Uber's GAAP EPS of $0.10 missed the consensus of $0.12.

 

Equities Trading UP

 

TransMedics Group, Inc. TMDX shares shot up 54% to $61.95 after the company reported better-than-expected third-quarter sales results and issued strong FY23 revenue guidance.

Shares of Senti Biosciences, Inc. SNTI got a boost, shooting 87% to $0.5462 after the company reported a new strategic collaboration with Celest Therapeutics for the clinical development of SENTI-301A in China.

Datadog, Inc. DDOG shares were also up, gaining 30% to $103.19 after the company reported better-than-expected third-quarter results and issued strong guidance.

 

Equities Trading DOWN

 

Ventyx Biosciences, Inc. VTYX shares dropped 82% to $2.5889 after the company announced efficacy results from the Phase 2 trial of VTX958 in plaque psoriasis did not meet the internal target to support further development of VTX958 in psoriasis.

Shares of Alto Ingredients, Inc. ALTO were down 59% to $2.0050 after the company reported mixed third-quarter financial results.

Oportun Financial Corporation OPRT was down, falling 48% to $3.0450 after reporting a loss for the third quarter.

Also Check This Out: Jim Cramer Says This Tech Company Reported A 'Dynamite' Quarter: 'I Disliked These Guys For A Long Time, Not Anymore'

 

Commodities

 

In commodity news, oil traded down 4.2% to $77.45 while gold traded down 0.9% at $1,970.80.

Silver traded down 2.9% to $22.565 on Tuesday while copper fell 1.1% to $3.6795.

 

Euro zone

 

European shares closed mostly lower today. The eurozone’s STOXX 600 fell 0.16%, London’s FTSE 100 fell 0.10% while Spain’s IBEX 35 Index fell 0.06% The German DAX gained 0.11% French CAC 40 fell 0.39%, while Italy’s FTSE MIB Index fell 0.69%.

Industrial producer prices in the Eurozone declined by 12.4% year-over-year in September versus an 11.5% decline a month ago, while the HCOB construction PMI declined to 42.7 in October from 43.6 in September.

The S&P Global France construction PMI declined to 41 in October from 43.7 in September, while German construction PMI fell to 38.3 in October, recording the lowest reading since April 2020. Industrial production in Germany fell 1.4% month-over-month for September, while UK’s Halifax House Price Index fell by 3.2% year-over-year in October.

 

Asia Pacific Markets

 

Asian markets closed lower on Tuesday, with Japan’s Nikkei 225 falling 1.34%, Hong Kong’s Hang Seng Index declining 1.65% and China’s Shanghai Composite Index falling 0.04%. India’s S&P BSE Sensex, meanwhile, fell around 0.03%.

China's trade surplus in October 2023 narrowed to $56.53 billion from $82.35 billion in the year-ago-month. Chinese foreign exchange reserves fell to $3.101 trillion in October from the previous month's reading of $3.115 trillion, while foreign exchange reserves in Hong Kong increased to $416 billion in October.

 

Economics

 

The Logistics Manager’s Index in the U.S. rose to 56.5 in October versus 52.4 in the prior month.

The Manheim Used Vehicle Value Index fell 2.3% month-over-month for October.

The trade deficit in the U.S. increased to $61.5 billion in September versus a revised $58.7 billion gap in the prior month and compared to market estimates of $59.9 billion.

Now Read This: Insiders Selling Amazon, Costco And 2 Other Stocks