U.S. stocks traded mixed toward the end of trading, with the Dow Jones index falling more than 250 points on Tuesday.
The Dow traded down 0.69% to 38,798.34 while the NASDAQ rose 0.41% to 16,990.44. The S&P 500 also fell, dropping, 0.11% to 5,298.87.
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Leading and Lagging Sectors
Information technology shares jumped by 1.5% on Tuesday.
In trading on Tuesday, health care shares fell by 1.4%.
Top Headline
Shares of Elbit Systems Ltd. ESLT fell around 2.5% on Tuesday after the company reported results for the first quarter.
The company reported first-quarter FY24 revenue of $1.554 billion, beating the consensus of $1.463 billion. Adjusted EPS rose to $1.81 from $1.78 a year ago, beating the consensus of $1.35, according to data from Benzinga Pro.
Equities Trading UP
- Insmed Incorporated INSM shares shot up 109% to $45.90 after the company announced topline results from ASPEN Phase 3 study met its primary endpoint.
- Shares of Calliditas Therapeutics AB CALT got a boost, surging 73% to $37.84 after the company’s board recommended the acceptance of Asahi Kasei’s tender offer.
- Pineapple Energy Inc. PEGY shares were also up, gaining 74% to $0.3094 after the company on Friday announced its SUNation subsidiary signed a 1.95-megawatt project.
Equities Trading DOWN
- Applied DNA Sciences, Inc. APDN shares dropped 69% to $0.6250 after the company reported the pricing of $12 million public offering.
- Shares of Marpai, Inc. MRAI were down 53% to $0.9223 after the company announced its intention to withdraw from the Nasdaq hearings process.
- Netcapital Inc. NCPL was down, falling 25% to $0.1442 after the company announced that it entered into definitive agreement for the immediate exercise of $2.2 million of certain outstanding Series A-2 warrants.
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Commodities
In commodity news, oil traded up 2.6% to $79.70 while gold traded up 0.9% at $2,354.70.
Silver traded up 5.2% to $32.07 on Tuesday, while copper rose 2.1% to $4.8525.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.60%, Germany's DAX slipped 0.52% and France's CAC 40 declined 0.92%. Spain's IBEX 35 Index fell 0.44%, while London's FTSE 100 declined 0.76%.
German wholesale prices fell by 1.8% year-over-year in April compared to a revised 2.6% decline a month ago.
Asia Pacific Markets
Asian markets closed lower on Tuesday, with Japan's Nikkei falling 0.11%, China's Composite Index declining 0.46%, Hong Kong's Hang Seng Index falling 0.03% and India's S&P BSE Sensex falling 0.2%.
Producer prices in Malaysia rose by 1.9% year-over-year in April compared to a 1.6% increase in the earlier month.
Economics
- The S&P CoreLogic Case-Shiller home price index rose by 7.4% year-over-year in March versus 7.3% in the previous month.
- The FHFA house price index rose by 0.1% in March, compared to market expectations of a 0.5% gain.
- The Federal Reserve Bank of Dallas’ general business activity index for manufacturing in Texas fell to a reading of -19.4 in May, compared to -14.5 a month ago.
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