Day: September 18, 2024

U.S. stocks traded mostly higher toward the end of trading, with the Nasdaq Composite gaining around 0.2% on Tuesday.

The Dow traded up 0.01% to 41,628.39 while the NASDAQ rose 0.19% to 17,624.93. The S&P 500 also rose, gaining, 0.03% to 5,634.76.

Check This Out: How To Earn $500 A Month From FedEx Stock Ahead Of Q1 Earnings

Leading and Lagging Sectors

Energy shares jumped by 1.3% on Tuesday.

In trading on Tuesday, health care shares fell by 1.1%.

Top Headline

The NAHB/Wells Fargo Housing Market Index climbed to 41 in September versus 39 in the prior month.

Equities Trading UP
                       

• BurgerFi International, Inc. BFI shares shot up 88% to $0.23 after the company received interim approval for $3.5 million in financing to support 144 locations during its restructuring.
• Shares of Galmed Pharmaceuticals Ltd. GLMD got a boost, surging 422% to $20.19. Galmed Pharmaceuticals regained Nasdaq compliance.
• Compass Minerals International, Inc. CMP shares were also up, gaining 24% to $11.40 after the company announced preliminary third-quarter revenue above estimates.

Equities Trading DOWN

• Tupperware Brands Corporation TUP shares dropped 58% to $0.5099 following a report suggesting the company is planning bankruptcy.
• Shares of Netcapital Inc. NCPL were down 29% to $2.0450 following first-quarter earnings.
• Korro Bio, Inc. KRRO was down, falling 8% to $37.42. 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 1.6% to $71.21 while gold traded down 0.4% at $2,597.30.

Silver traded down 0.3% to $31.05 on Tuesday, while copper rose 0.1% to $4.2760.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.40%, Germany’s DAX rose 0.50% and France’s CAC 40 gained 0.51%. Spain’s IBEX 35 Index rose 1.06%, while London’s FTSE 100 rose 0.38%.

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.

Now Read This: