Crude Oil Down 2%; Paysafe Shares Surge After Q2 Results

U.S. stocks traded higher toward the end of trading, with the Dow Jones index jumping more than 300 points on Tuesday.

The Dow traded up 0.86% to 39,696.74 while the NASDAQ rose 2.17% to 17,143.94. The S&P 500 also rose, gaining, 1.44% to 5,421.43.

Leading and Lagging Sectors

Information technology shares climbed by 2.7% on Tuesday.

In trading on Tuesday, energy shares fell 1%.

Top Headline

Shares of Paysafe Ltd PSFE jumped around 9% on Tuesday after the company reported its second-quarter financial results.

Paysafe reported second-quarter adjusted earnings of 59 cents per share, beating the 8 cent analyst consensus estimate. Quarterly sales came in at $439.9 million, reflecting a 7% growth in total payment volume and beating the $424.28 million estimate.

Paysafe revised its full-year 2024 revenue guidance to $1.713 billion – $1.729 billion (prior $1.688 billion – $1.712 billion), versus the $1.705 billion analyst consensus estimate.

Equities Trading UP
                       

• Starbucks Corporation SBUX shares shot up 21% to $93.26 after the company announced that Chipotle CEO and Chairman Brian Niccol has been named as Starbucks’ new Chairman and Chief Executive Officer, effective Sept. 9.
• Shares of CXApp Inc. CXAI got a boost, surging 133% to $3.43 after the company announced a deal and multi-year agreement with Google Cloud.
• iLearningEngines, Inc. AILE shares were also up, gaining 25% to $3.8250 after the company reported better-than-expected second-quarter sales results.

Equities Trading DOWN

• Syros Pharmaceuticals, Inc. SYRS shares dropped 61% to $1.95 after the company announced it will discontinue enrollment in the SELECT-AML-1 Phase 2 clinical trial.
• Shares of Genprex, Inc. GNPX were down 33% to $0.8499. 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 24% to $3.03 after the company reported worse-than-expected second-quarter financial results.

Commodities

In commodity news, oil traded down 2.1% to $78.37 while gold traded up 0.2% at $2,508.70.

Silver traded down 0.8% to $27.79 on Tuesday, while copper fell 0.5% to $4.05.

Euro zone

European shares closed higher today. The eurozone's STOXX 600 rose 0.52%, Germany's DAX rose 0.48% and France's CAC 40 rose 0.35%. Spain's IBEX 35 Index rose 0.73%, while London's FTSE 100 rose 0.30%.

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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