U.S. stocks traded lower this morning, with the Dow Jones index falling by more than 300 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.74% to 43,067.69 while the NASDAQ fell 0.29% to 18,738.99. The S&P 500 also fell, dropping, 0.48% to 5,865.32.

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Leading and Lagging Sectors

Consumer staples shares rose by 0.1% on Tuesday.

In trading on Tuesday, consumer discretionary shares fell by 1%.

Top Headline

Walmart Inc WMT announced upbeat third-quarter results and raised its fiscal-2025 guidance.

The retailer reported adjusted EPS of 58 cents, beating the consensus of 53 cents. Sales were $169.59 billion, up 5.5% year over year or 6.2% (at constant currency), beating the consensus of $167.72 billion.

For FY25, the big box retailer raised its adjusted EPS outlook to $2.42 – $2.47 (from $2.35 – $2.43), vs. the consensus of $2.45. Walmart boosted FY25 net sales (at constant currency) growth guidance to 4.8% – 5.1% from 3.75% – 4.75% earlier.

Equities Trading UP
                       

• noco-noco Inc. NCNC shares shot up 160% to $0.2520.
• Shares of PainReform Ltd. PRFX got a boost, surging 104% to $1.0898. The company announced a 1-for-4 reverse stock split.
• Interactive Strength Inc. TRNR shares were also up, gaining 36% to $3.4499. The company, which makes specialty fitness equipment under the CLMBR and FORME brands, disclosed that Armah Sports Group‘s B_FIT is installing CLMBRs in three of its nine locations in Saudi Arabia.

Equities Trading DOWN

• QMMM Holdings Limited QMMM shares dropped 40% to $1.04.
• Shares of Wellchange Holdings Company Limited WCT were down 25% to $2.62.
• Apollomics, Inc. APLM was down, falling 22% to $0.1506.

Commodities

In commodity news, oil traded down 0.5% to $68.85 while gold traded up 1% at $2,641.50.

Silver traded up 0.8% to $31.485 on Tuesday, while copper fell 0.4% to $4.1040.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.8%, Germany’s DAX fell 1.1% and France’s CAC 40 fell 1.2%. Spain’s IBEX 35 Index fell 1.5%, while London’s FTSE 100 fell 0.4%.

Hourly labor costs in the Eurozone rose by 4.6% year-over-year in the third quarter compared to a revised 5% gain in the prior quarter. Annual inflation in the Eurozone rose to 2% in October from 1.7% in September.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan’s Nikkei 225 gaining 0.51%, Hong Kong’s Hang Seng Index gaining 0.44%, China’s Shanghai Composite Index gaining 0.67%  and India’s BSE Sensex gaining 0.31%.

Malaysia’s trade surplus narrowed to MYR 12.0 billion in October from MYR 13.0 billion in the year-ago month.

Economics

• Housing starts in the U.S. declined by 3.1% to 1.311 million in October versus a revised 1.353 million in the previous month.
• U.S. building permits declined by 0.6% to an annual rate of 1.416 million in October.

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