U.S. stocks traded higher toward the end of trading, with the Dow Jones index jumping more than 300 points on Tuesday.
The Dow traded up 0.86% to 39,696.74 while the NASDAQ rose 2.17% to 17,143.94. The S&P 500 also rose, gaining, 1.44% to 5,421.43.
Leading and Lagging Sectors
Information technology shares climbed by 2.7% on Tuesday.
In trading on Tuesday, energy shares fell 1%.
Top Headline
Shares of Paysafe Ltd (NYSE:PSFE) jumped around 9% on Tuesday after the company reported its second-quarter financial results.
Paysafe reported second-quarter adjusted earnings of 59 cents per share, beating the 8 cent analyst consensus estimate. Quarterly sales came in at $439.9 million, reflecting a 7% growth in total payment volume and beating the $424.28 million estimate.
Paysafe revised its full-year 2024 revenue guidance to $1.713 billion – $1.729 billion (prior $1.688 billion – $1.712 billion), versus the $1.705 billion analyst consensus estimate.
Equities Trading UP
- Starbucks Corporation (NASDAQ:SBUX) shares shot up 21% to $93.26 after the company announced that Chipotle CEO and Chairman Brian Niccol has been named as Starbucks' new Chairman and Chief Executive Officer, effective Sept. 9.
- Shares of CXApp Inc. (NASDAQ:CXAI) got a boost, surging 133% to $3.43 after the company announced a deal and multi-year agreement with Google Cloud.
- iLearningEngines, Inc. (NASDAQ:AILE) shares were also up, gaining 25% to $3.8250 after the company reported better-than-expected second-quarter sales results.
Equities Trading DOWN
- Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) shares dropped 61% to $1.95 after the company announced it will discontinue enrollment in the SELECT-AML-1 Phase 2 clinical trial.
- Shares of Genprex, Inc. (NASDAQ:GNPX) were down 33% to $0.8499. Genprex was granted patent in Singapore for Reqorsa Gene Therapy in combination with PD-1 antibodies through 2037
- TELA Bio, Inc. (NASDAQ:TELA) was down, falling 24% to $3.03 after the company reported worse-than-expected second-quarter financial results.
Commodities
In commodity news, oil traded down 2.1% to $78.37 while gold traded up 0.2% at $2,508.70.
Silver traded down 0.8% to $27.79 on Tuesday, while copper fell 0.5% to $4.05.
Euro zone
European shares closed higher today. The eurozone's STOXX 600 rose 0.52%, Germany's DAX rose 0.48% and France's CAC 40 rose 0.35%. Spain's IBEX 35 Index rose 0.73%, while London's FTSE 100 rose 0.30%.
Asia Pacific Markets
Asian markets closed mostly higher on Tuesday, with Japan's Nikkei 225 jumping 3.45%, Hong Kong's Hang Seng Index gaining 0.36%, China's Shanghai Composite Index gaining 0.34% and S&P BSE Sensex falling 0.87%.
Economics
U.S. producer prices rose 0.1% month-over-month in July compared to a 0.2% increase in June and versus market expectations of 0.2%.
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