U.S. stocks traded higher midway through trading, with the Dow Jones index gaining over 100 points on Tuesday.
The Dow traded up 0.26% to 41,728.28 while the NASDAQ rose 0.73% to 17,721.04. The S&P 500 also rose, gaining, 0.39% to 5,655.10.
Leading and Lagging Sectors
Consumer discretionary shares jumped by 1.6% on Tuesday.
In trading on Tuesday, health care shares fell by 0.2%.
Top Headline
U.S. total business inventories rose by 0.4% month-over-month in July compared to a 0.3% gain in June and topping market expectations of a 0.3% increase.
Equities Trading UP
- BurgerFi International, Inc. (NASDAQ:BFI) shares shot up 96% to $0.2375 after the company received interim approval for $3.5 million in financing to support 144 locations during its restructuring.
- Shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) got a boost, surging 99% to $7.72. Galmed Pharmaceuticals regained Nasdaq compliance.
- Compass Minerals International, Inc. (NYSE:CMP) shares were also up, gaining 28% to $11.77 after the company announced preliminary third-quarter revenue above estimates.
Equities Trading DOWN
- Tupperware Brands Corporation (NYSE:TUP) shares dropped 58% to $0.5099 following a report suggesting the company is planning bankruptcy.
- Shares of Netcapital Inc. (NASDAQ:NCPL) were down 26% to $2.1438 following first-quarter earnings.
- Korro Bio, Inc. (NASDAQ:KRRO) was down, falling 7% to $38.10. HC Wainwright & Co. analyst Mitchell Kapoor reiterated Korro Bio with a Buy rating and maintained a $100 price target. The company, on Monday, announced a collaboration with Novo Nordisk to advance the discovery and development of new genetic medicines, with the initial target to treat cardiometabolic diseases.
Commodities
In commodity news, oil traded up 1.4% to $71.08 while gold traded down 0.1% at $2,608.40.
Silver traded up 0.6% to $31.31 on Tuesday, while copper rose 0.2% to $4.2865.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.52%, Germany's DAX rose 0.62% and France's CAC 40 gained 0.52%. Spain's IBEX 35 Index rose 1.22%, while London's FTSE 100 rose 0.43%.
The ZEW Indicator of Economic Sentiment for the Eurozone fell 8.6 points to an eleven-month low level of 9.3. The ZEW Indicator of Economic Sentiment for Germany fell to 3.6 in September from 19.2 in August.
Asia Pacific Markets
Asian markets closed mostly higher on Tuesday, with Japan's Nikkei 225 falling 1.03%, Hong Kong's Hang Seng Index gaining 1.37% and India's BSE Sensex gaining 0.11%.
The merchandise trade deficit in India increased to $29.7 billion in August, recording the highest level in ten months. India's wholesale prices rose by 1.31% year-over-year in August compared to a 2.04% rise in the prior month.
Economics
- U.S. retail sales rose 0.1% month-over-month in August compared to revised 1.1% gain in July, and topping market estimates of a 0.2% decline.
- The NAHB/Wells Fargo Housing Market Index climbed to 41 in September versus 39 in the prior month.
- Total business inventories rose by 0.4% month-over-month in July compared to a 0.3% gain in June and topping market expectations of a 0.3% increase.
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