Dow Jumps Over 300 Points; Citigroup Posts Upbeat Earnings

U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining more than 300 points on Tuesday.

The Dow traded up 0.72% to 46,399.60 while the NASDAQ fell 0.17% to 22,656.09. The S&P 500 also rose, gaining, 0.26% to 6,672.03.

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Leading and Lagging Sectors

Industrials shares jumped by 1.4% on Tuesday.

In trading on Tuesday, information technology stocks fell by 0.8%.

Top Headline

Citigroup (NYSE:C) posted better-than-expected earnings for the third quarter.

The bank reported posted third-quarter revenue of $22.09 billion, up 9% year over year and comfortably ahead of expectations of $21.09 billion, as strong performances across Markets, U.S. Personal Banking, and Investment Banking lifted results.

Net income rose to $3.75 billion, while earnings per share jumped to $2.24 from $1.51 a year earlier, also topping estimates of $1.90 per share.

Equities Trading UP

Astria Therapeutics, Inc. (NASDAQ:ATXS) shares shot up 39% to $11.78 after BioCryst announced plans to acquire the company.
Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) got a boost, surging 20% to $12.01 after the company provided a progress update on its development of advanced medium and high 800 VDC voltage GaN and SiC power devices.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) shares were also up, gaining 17% to $9.57 after the company reported third-quarter EPS and sales above estimates.

Equities Trading DOWN

Orion S.A. (NYSE:OEC) shares dropped 22% to $5.36 after the company reported preliminary third-quarter results.
Shares of The Goldman Sachs Group, Inc. (NYSE:GS) were down 4% to $757.27 following third-quarter results.
Electra Battery Materials Corporation (NASDAQ:ELBM) was down, falling 28% to $5.00.

Commodities

In commodity news, oil traded down 2.2% to $58.21 while gold traded up 0.1% at $4,138.60.

Silver traded down 0.8% to $50.035 on Tuesday, while copper fell 3.3% to $4.9765.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.54%, while Spain's IBEX 35 Index fell 0.08%. London's FTSE 100 fell 0.14%, Germany's DAX 40 fell 0.88% and France's CAC 40 dipped 0.35% during the session.

Asia Pacific Markets

Asian markets closed lower on Tuesday, with Japan's Nikkei 225 falling 2.58%, Hong Kong's Hang Seng index falling 1.73%, China's Shanghai Composite falling 0.62% and India's BSE Sensex declining 0.36%.

Economics

The NFIB Small Business Optimism Index declined to 98.8 in September from 100.8 in the previous month and missing market estimates of 100.5.

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