Nasdaq Surges 200 Points; US Producer Prices Increase 0.1% In July

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 200 points on Tuesday.

The Dow traded up 0.47% to 39,542.44 while the NASDAQ rose 1.24% to 16,989.15. The S&P 500 also rose, gaining, 0.83% to 5,388.59.

Leading and Lagging Sectors

Information technology shares climbed by 1.4% on Tuesday.

In trading on Tuesday, energy shares fell 0.8%.

Top Headline

U.S. producer prices rose 0.1% month-over-month in July compared to a 0.2% increase in June and versus market expectations of 0.2%.

Equities Trading UP
                       

• Vicinity Motor Corp.. VEV shares shot up 154% to $0.2581 after dipping around 14% on Monday.
• Shares of CXApp Inc. CXAI got a boost, surging 92% to $2.83 after the company announced a deal and multi-year agreement with Google Cloud.
• Apollomics, Inc. APLM shares were also up, gaining 41% to $0.2240 after the company announced preliminary data and a 43% response rate for its phase 2 SPARTA trial of Vebreltinib.

Equities Trading DOWN

• Syros Pharmaceuticals, Inc. SYRS shares dropped 59% to $2.03 after the company announced it will discontinue enrollment in the SELECT-AML-1 Phase 2 clinical trial.
• Shares of Genprex, Inc. GNPX were down 32% to $0.8699. Genprex was granted patent in Singapore for Reqorsa Gene Therapy in combination with PD-1 antibodies through 2037
• TELA Bio, Inc. TELA was down, falling 30% to $2.77 after the company reported worse-than-expected second-quarter financial results.

Commodities

In commodity news, oil traded down 0.8% to $79.32 while gold traded up 0.2% at $2,509.60.

Silver traded down 1.1% to $27.70 on Tuesday, while copper fell 0.8% to $4.0340.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.2%, Germany's DAX rose 0.2% and France's CAC 40 fell 0.1%. Spain's IBEX 35 Index rose 0.4%, while London's FTSE 100 rose 0.2%.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan's Nikkei 225 jumping 3.45%, Hong Kong's Hang Seng Index gaining 0.36%, China's Shanghai Composite Index gaining 0.34% and S&P BSE Sensex falling 0.87%.

Economics

U.S. producer prices rose 0.1% month-over-month in July compared to a 0.2% increase in June and versus market expectations of 0.2%.

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