Nasdaq Gains Over 100 Points; US Trade Deficit Widens In September

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 100 points on Tuesday.

Following the market opening Tuesday, the Dow traded up 0.22% to 41,887.70 while the NASDAQ rose 0.70% to 18,307.76. The S&P 500 also rose, gaining, 0.50% to 5,741.41.

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Leading and Lagging Sectors

Information technology shares rose by 0.9% on Tuesday.

In trading on Tuesday, health care shares fell by 0.3%.

Top Headline

The trade deficit in the U.S. increased to $84.4 billion in September, recording the highest level since April 2022, and above market estimates of a $84.1 billion gap, versus a revised $70.8 billion gap in August.

Equities Trading UP
                       

• Bionomics Limited BNOX shares shot up 190% to $0.5583 after the company announced it secured an AUS$1 million milestone payment from Carina Biotech for its BNC101 oncology program, with the potential to earn up to AUS$118 million.
• Shares of Avalon GloboCare Corp. ALBT got a boost, surging 68% to $3.78.
• ZyVersa Therapeutics, Inc. ZVSA shares were also up, gaining 60% to $2.92 after the company highlighted data showing the potential of inflammasome inhibition to protect pancreatic islet beta cells and attenuate progression from obesity to insulin resistance and type 2 diabetes.

Equities Trading DOWN

• Marqeta, Inc. MQ shares dropped 36% to $3.79 after the company reported worse-than-expected Q3 sales results. Also, multiple firms downgraded their respective ratings on the company and lowered their respective price targets.
• Shares of Verrica Pharmaceuticals Inc. VRCA were down 36% to $0.91 following downbeat quarterly results.
• Bioventus Inc. BVS was down, falling 36% to $8.77 after the company announced third-quarter results.

Commodities

In commodity news, oil traded up 0.6% to $71.92 while gold traded up 0.3% at $2,754.40.

Silver traded up 0.8% to $32.880 on Tuesday, while copper rose 1.1% to $4.4795.

Euro zone

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

Spain's consumer confidence indicator declined by 4.6 points to a reading of 84.8 in September.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan's Nikkei 225 gaining 1.11%, Hong Kong's Hang Seng Index gaining 2.14%, China's Shanghai Composite Index gaining 2.32% and India's BSE Sensex gaining 0.88%.

Economics

The trade deficit in the U.S. increased to $84.4 billion in September, recording the highest level since April 2022, and above market estimates of a $84.1 billion gap, versus a revised $70.8 billion gap in August.

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