U.S. stocks traded higher this morning, with the Nasdaq Composite gaining over 1% on Tuesday.
Following the market opening Tuesday, the Dow traded up 0.62% to 42,846.32 while the NASDAQ gained 1.03% to 19,832.45. The S&P 500 also rose, gaining, 0.68% to 6,066.06.
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Leading and Lagging Sectors
Information technology shares jumped by 1.2% on Tuesday.
In trading on Tuesday, energy stocks fell by 1.4%.
Top Headline
TD Synnex Corporation (NYSE:SNX) reported better-than-expected earnings for the second quarter on Tuesday.
The company posted quarterly earnings of $2.99 per share which beat the analyst consensus estimate of $2.72 per share. The company reported quarterly sales of $14.95 billion which beat the analyst consensus estimate of $14.32 billion.
Equities Trading UP
- Nano Labs Ltd (NASDAQ:NA) shares shot up 155% to $27.83 after the company announced a $500 million convertible notes private placement for its BNB treasury strategy.
- Shares of Nektar Therapeutics (NASDAQ:NKTR) got a boost, surging 95% to $18.65. The company released statistically significant data from the 16-week induction period of the ongoing Phase 2b REZOLVE-AD study of investigational rezpegaldesleukin.
- OneMedNet Corporation (NASDAQ:ONMD) shares were also up, gaining 81% to $0.6162 after the company entered into private placement agreements with accredited investors raising approximately $3.7 million in gross proceeds.
Equities Trading DOWN
- Upexi, Inc. (NASDAQ:UPXI) shares dropped 59% to $4.0750.
- Shares of Maase Inc. (NASDAQ:MAAS) were down 47% to $5.22.
- Houston American Energy Corp. (NYSE:HUSA) was down, falling 37% to $11.65 as the company announced a $1.2 million registered direct offering.
Commodities
In commodity news, oil traded down 4% to $65.82 while gold traded down 2.2% at $3,320.70.
Silver traded down 1.5% to $35.630 on Tuesday, while copper rose 0.9% to $4.8940.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 1.2%, while Spain's IBEX 35 Index surged 1.6%. London's FTSE 100 gained 0.4%, Germany's DAX 40 gained 1.8% and France's CAC 40 rose 1.3% during the session.
Asia Pacific Markets
Asian markets closed higher on Tuesday, with Japan's Nikkei gaining 1.14%, Hong Kong's Hang Seng Index gaining 2.06%, China's Shanghai Composite rising 1.15% and India's BSE Sensex rising 0.19%.
Economics
- The U.S. current account deficit increased by 44.3% to $450.2 billion in the first quarter versus a revised deficit of $312 billion in the fourth quarter and compared to market estimates of a $443.3 billion gap.
- The S&P CoreLogic Case-Shiller Home Price Index increased 3.4% year-over-year in April following a 4.1% gain in the previous month.
- The FHFA house price index fell by 0.4% from the previous month in April.
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