U.S. stocks traded mostly higher midway through trading, with the Dow Jones index surging more than 550 points on Tuesday.
The Dow traded up 1.41% to 40,779.92 while the NASDAQ fell 0.05% to 18,463.13. The S&P 500 also rose, gaining, 0.35% to 5,651.05.
Check This Out: Wall Street’s Most Accurate Analysts Weigh In On 3 Industrials Stocks Delivering High-Dividend Yields
Leading and Lagging Sectors
Industrials shares jumped by 2% on Tuesday.
In trading on Tuesday, information technology shares fell by 0.5%.
Top Headline
Bank of America Corp BAC reported better-than-expected second-quarter results.
The company posted second-quarter fiscal 2024 net income of $6.9 billion and EPS of 83 cents, beating the analyst consensus estimate of 80 cents.
Revenue, net of interest expense, increased 0.8% year-over-year to $25.54 billion, beating the analyst consensus estimate of $25.22 billion.
Equities Trading UP
- Silo Pharma, Inc. SILO shares shot up 113% to $2.2799 after the company obtained an exclusive global license to develop, manufacture, and commercialize its Alzheimer’s drug.
- Shares of Yoshitsu Co., Ltd TKLF got a boost, surging 89% to $0.5780 after the company reported a year-over-year increase in FY24 financial results.
- AngioDynamics, Inc. ANGO shares were also up, gaining 20% to $7.12 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance.
Equities Trading DOWN
- Reddit, Inc. RDDT shares dropped 7% to $68.23 after Loop Capital downgraded the stock from Buy to Hold.
- Shares of The Charles Schwab Corporation SCHW were down 9% to $68.65 following second-quarter results.
- Clearmind Medicine Inc CMND was down, falling 15% to $1.8799. Clearmind Medicine announced the FDA clearance for IND application of MEAI-based CMND-100 oral capsule.
Also Check This Out: Tecogen And 3 Other Stocks Under $5 Insiders Are Buying
Commodities
In commodity news, oil traded down 1% to $81.08 while gold traded up 1.4% at $2,462.00.
Silver traded up 2% to $31.54 on Tuesday, while copper fell 1.5% to $4.4595.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.23%, Germany's DAX fell 0.32% and France's CAC 40 fell 0.64%. Spain's IBEX 35 Index fell 0.41%, while London's FTSE 100 fell 0.21%.
The ZEW Indicator of Economic Sentiment for the Eurozone fell by 7.6 points to a reading of 43.7 in July, while Eurozone posted a trade surplus of EUR 13.9 billion in May versus a year-ago gap of EUR 0.4 billion.
The ZEW Indicator of Economic Sentiment for Germany fell to 41.8 in July, recording the first decline in a year. Italy reported a trade surplus of EUR 6.43 billion in May versus a year-ago surplus of EUR 4.767 billion year.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.20%, Hong Kong's Hang Seng Index falling 1.60%, China's Shanghai Composite Index gaining 0.08% and India's S&P BSE Sensex gaining 0.06%.
Economics
- U.S. retail sales came in flat month-over-month for June compared to a revised 0.3% gain in the previous period.
- Import prices came in unchanged from the prior month in June, while export prices in the U.S. declined 0.5% month-over-month in June.
- The NAHB/Wells Fargo Housing Market Index fell by one point to a reading of 42 in July, versus market estimates of 44.
- U.S. total business inventories increased by 0.5% month-over-month in May compared to a 0.3% gain in the earlier month.
Now Read This: Top 5 Financials Stocks That May Collapse This Month
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.