U.S. stocks traded slightly higher this morning, with the Nasdaq Composite gaining around 0.2% on Tuesday.
Following the market opening Tuesday, the Dow traded up 0.01% to 40,421.01 while the NASDAQ rose 0.19% to 18,041.10. The S&P 500 also rose, gaining, 0.18% to 5,574.56.
Leading and Lagging Sectors
Consumer discretionary shares jumped by 0.8% on Tuesday.
In trading on Tuesday, utilities shares fell by 0.5%.
Top Headline
General Motors Company (NYSE:GM) reported better-than-expected second-quarter earnings and raised its guidance.
General Motors reported a fiscal second-quarter 2024 sales growth of 7.2% year-on-year to $47.97 billion, beating the analyst consensus estimate of $45.30 billion. The adjusted EPS of $3.06 beat the analyst consensus estimate of $2.72.
Equities Trading UP
- Azitra, Inc. (NYSE:AZTR) shares shot up 517% to $10.00 after the company announced that the U.S. Patent and Trademark Office granted it U.S. Patent No. 12,036,248 for the treatment of atopic dermatitis.
- Shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) got a boost, surging 158% to $2.75 after the company announced it advanced into the second cohort and commenced dosing for the Pharmacokinetics Study of AD04 for alcohol use disorder.
- Agape ATP Corporation (NASDAQ:ATPC) shares were also up, gaining 65% to $0.2356.
Equities Trading DOWN
- Jaguar Health, Inc. (NASDAQ:JAGX) shares dropped 66% to $1.4203 after the company announced its phase 3 OnTarget trial results for Crofelemer did not meet its primary endpoint.
- Shares of TransCode Therapeutics, Inc. (NASDAQ:RNAZ) were down 62% to $0.3007 after the company announced a proposed public offering.
- Exicure, Inc. (NASDAQ:XCUR) was down, falling 30% to $0.3523.
Also Check This Out: Wall Street's Most Accurate Analysts Give Their Take On 3 Tech And Telecom Stocks With Over 3% Dividend Yields
Commodities
In commodity news, oil traded down 0.3% to $78.14 while gold traded up 0.7% at $2,410.80.
Silver traded down 0.1% to $29.295 on Tuesday, while copper fell 0.6% to $4.1740.
Euro zone
European shares were higher today. The eurozone's STOXX 600 climbed 0.6%, Germany's DAX gained 1.3% and France's CAC 40 climbed 0.4%. Spain's IBEX 35 Index rose 0.7%, while London's FTSE 100 rose 0.4%.
Asia Pacific Markets
Asian markets closed lower on Tuesday, with Japan's Nikkei 225 falling 0.01%, Hong Kong's Hang Seng Index falling 0.94%, China's Shanghai Composite Index declining 1.65% and India's S&P BSE Sensex declining 0.09%.
The annual inflation rate in Hong Kong rose to 1.5% in June from 1.2% in the prior month. The People's Bank of China slashed one-year loan prime rate by 10bps to 3.35%.
Economics
- The composite manufacturing index in the US Fifth District fell to -17 in July compared to a reading of -10 in June.
- Existing home sales declined by 5.4% from the prior month to an annualized rate of 3.89 million units for June.
Now Read This:
- This Coinbase Global Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday