Crude Oil Gains 1%; Ciena Earnings Top Views

U.S. stocks traded lower midway through trading, with the Dow Jones falling more than 1% on Tuesday.

The Dow traded down 1.07% to 41,462.06 while the NASDAQ declined 0.19% to 17,434.41. The S&P 500 also fell, dropping, 0.66% to 5,577.74.

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Leading and Lagging Sectors

Information technology shares slipped by just 0.1% on Tuesday.

In trading on Tuesday, industrials shares dipped by 1.2%.

Top Headline

Ciena Corp. CIEN reported better-than-expected fiscal first-quarter earnings.

The company posted revenue growth of 3.3% year-on-year to $1.07 billion, beating the analyst consensus estimate of $1.05 billion. The American telecommunications networking equipment and software services supplier reported adjusted EPS of 64 cents, beating the analyst consensus estimate of 41 cents.

Equities Trading UP

Ramaco Resources, Inc. METC shares shot up 34% to $11.28 following better-than-expected quarterly results.
Shares of 2seventy bio, Inc. TSVTgot a boost, surging 76% to $4.93 after the company announced it has agreed to be acquired by Bristol Myers Squibb for $286 million.
Hesai Group HSAI shares were also up, gaining 41% to $22.60 after the company announced it secured a multi-year deal with Mercedes to supply Lidar sensors.

Equities Trading DOWN

Arvinas, Inc. ARVN shares dropped 51% to $8.63 after the company announced topline results from the phase 3 VERITAC-2 Trial of Vepdegestrant Monotherapy Versus Fulvestrant in adults with advanced or retastatic breast cancer.
Shares of Asana, Inc. ASAN were down 28% to $11.93 after the company reported fourth-quarter financial results announced the departure of CEO Dustin Moskovitz. Multiple firms cut their respective price targets on the stock.
Sacks Parente Golf, Inc. SPGC was down, falling 32% to $0.1085 after the company initiated a 1-for-30 reverse stock split and announced a rebranding to the name Newton Golf.

Commodities

In commodity news, oil traded up 1.1% to $66.78 while gold traded up 0.8% at $2,923.10.

Silver traded up 1.9% to $33.15 on Tuesday, while copper rose 2% to $4.7580.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 1.09%, Germany's DAX 40 fell 0.35% and France's CAC 40 fell 0.66%. Spain's IBEX 35 Index fell 0.92%, while London's FTSE 100 fell 0.83%.

Asia Pacific Markets

Asian markets closed mostly lower on Tuesday, with Japan's Nikkei dipping 0.64%, China's Shanghai Composite Index gaining 0.41% and Hong Kong's Hang Seng Index falling 0.01%, India's BSE Sensex falling 0.02%.

Economics

The NFIB Small Business Optimism Index fell 2.1 points to a reading of 100.7 in February, recording the lowest reading since October 2024.

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