Crude Oil Edges Lower; UBS Shares Jump After Q1 Earnings

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining around 75 points on Tuesday.

The Dow traded up 0.20% to 38,928.11 while the NASDAQ rose 0.24% to 16,388.57. The S&P 500 also rose, gaining, 0.29% to 5,195.98.

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Leading and Lagging Sectors

Real estate shares rose by 1.1% on Tuesday.

In trading on Tuesday, information technology shares fell by 0.2%.

Top Headline

Shares of UBS Group AG UBS gained around 7% on Tuesday after the company reported strong first-quarter earnings.

UBS posted GAAP earnings of 52 cents per share, beating market estimates of 24 cents per share. The company's quarterly sales came in at $12.739 billion versus expectations of $12.017 billion.

Equities Trading UP
                       

• Nuwellis, Inc. NUWE shares shot up 48% to $0.2530 after the company posted a narrower-than-expected quarterly loss.
• Shares of Great Lakes Dredge & Dock Corporation GLDD got a boost, surging 20% to $8.44 following better-than-expected first-quarter financial results.
• Golden Sun Health Technology Group Limited GSUN shares were also up, gaining 58% to $4.54. Golden Sun Health Technology Group regained compliance with Nasdaq continued listing requirement.

Equities Trading DOWN

• AgriFORCE Growing Systems Ltd. AGRI shares dropped 26% to $0.1076 after the company announced an offering of 432.5 million shares by selling stockholders.
• Shares of JELD-WEN Holding, Inc. JELD were down 24% to $14.52 as the company posted downbeat quarterly sales and lowered 2024 revenue guidance.
• Neuronetics, Inc. STIM was down, falling 32% to $2.5350 following quarterly results

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Commodities

In commodity news, oil traded down 0.4% to $78.15 while gold traded down 0.3% at $2,325.10.

Silver traded down 0.2% to $27.555 on Tuesday, while copper fell 0.1% to $4.6130.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 1.11%, Germany's DAX rose 1.41% and France's CAC 40 gained 0.95%. Spain's IBEX 35 Index rose 1.5%, while London's FTSE 100 rose 1.25%.

Retail sales in the Eurozone gained by 0.8% month-over-month in March compared to a revised 0.3% fall in the prior month, while construction PMI fell to 41.9 in April from 42.4 in the earlier month.

The S&P Global UK construction PMI climbed to 53.0 in April from 50.2 in the prior month, while German construction PMI declined to 37.5 in April from 38.3 a month ago. The S&P Global France Construction PMI rose to 41.5 in April  from 41 in the earlier month, while France's trade deficit shrank to €5.5 billion in March versus a revised €5.6 billion in the prior month.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei gaining 1.57%, China's Composite Index gaining 0.22%, Hong Kong's Hang Seng Index falling 0.53% and India's S&P BSE Sensex falling 0.52%.

China’s foreign exchange reserves declined by $44.83 billion to $3.201 trillion in April. The au Jibun Bank Japan services PMI fell to 54.3 versus a preliminary reading of 54.6 in April.

Economics

The Manheim Used Vehicle Value Index fell 2.3% month-over-month in April.

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