U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 350 points on Tuesday.
The Dow traded up 0.86% to 42,154.69 while the NASDAQ rose 1.25% to 18,407.20. The S&P 500 also rose, gaining, 1.01% to 5,770.63.
Leading and Lagging Sectors
Consumer discretionary shares surged by 1.7% on Tuesday.
In trading on Tuesday, energy shares rose by just 0.3%.
Top Headline
The trade deficit in the U.S. increased to $84.4 billion in September, recording the highest level since April 2022, and above market estimates of a $84.1 billion gap, versus a revised $70.8 billion gap in August.
Equities Trading UP
- Bionomics Limited (NASDAQ:BNOX) shares shot up 156% to $0.49 after the company announced it secured an AUS$1 million milestone payment from Carina Biotech for its BNC101 oncology program, with the potential to earn up to AUS$118 million.
- Shares of Vimeo Inc (NASDAQ:VMEO) got a boost, surging 45% to $6.95 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter sales guidance above estimates.
- ZyVersa Therapeutics, Inc. (NASDAQ:ZVSA) shares were also up, gaining 33% to $2.41 after the company highlighted data showing the potential of inflammasome inhibition to protect pancreatic islet beta cells and attenuate progression from obesity to insulin resistance and type 2 diabetes.
Equities Trading DOWN
- Marqeta, Inc. (NASDAQ:MQ) shares dropped 41% to $3.52 after the company reported worse-than-expected Q3 sales results. Also, multiple firms downgraded their respective ratings on the company and lowered their respective price targets.
- Shares of Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) were down 40% to $0.86 following downbeat quarterly results.
- Bioventus Inc. (NASDAQ:BVS) was down, falling 20% to $10.97 after the company announced third-quarter results.
Commodities
In commodity news, oil traded up 0.5% to $71.83 while gold traded up 0.2% at $2,750.40.
Silver traded up 0.5% to $32.775 on Tuesday, while copper rose 0.9% to $4.4720.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.06%, Germany's DAX gained 0.57% and France's CAC 40 rose 0.48%. Spain's IBEX 35 Index rose 0.29%, while London's FTSE 100 fell 0.14%.
Spain's consumer confidence indicator declined by 4.6 points to a reading of 84.8 in September.
Asia Pacific Markets
Asian markets closed higher on Tuesday, with Japan's Nikkei 225 gaining 1.11%, Hong Kong's Hang Seng Index gaining 2.14%, China's Shanghai Composite Index gaining 2.32% and India's BSE Sensex gaining 0.88%.
Economics
The trade deficit in the U.S. increased to $84.4 billion in September, recording the highest level since April 2022, and above market estimates of a $84.1 billion gap, versus a revised $70.8 billion gap in August.
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