U.S. stocks traded mostly higher midway through trading, with the Nasdaq Composite gaining around 50 points on Tuesday.
The Dow traded up 0.02% to 44,412.05 while the NASDAQ rose 0.25% to 19,786.14. The S&P 500 also rose, gaining, 0.07% to 6,057.30.
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Leading and Lagging Sectors
Communication services shares jumped by 2.5% on Tuesday.
In trading on Tuesday, real estate shares fell by 0.9%.
Top Headline
Ollie's Bargain Outlet Holdings, Inc. OLLI shares jumped over 14% on Tuesday after the company released third-quarter results.
The company reported third-quarter adjusted earnings per share of 58 cents, beating the street view of 57 cents. Quarterly sales of $517.43 million (+7.8%) beat the analyst consensus of $517.36 million. The increase in net sales was the result of new store unit growth.
Equities Trading UP
- Chimerix, Inc. CMRX shares shot up 207% to $2.67 after the company announced it will submit dordaviprone for accelerated approval to the FDA for patients with recurrent H3 K27M-mutant diffuse glioma.
- Shares of Cumberland Pharmaceuticals Inc. CPIX got a boost, surging 93% to $2.3888 after the company announced the FDA has approved its supplemental new drug application for acetadote.
- uniQure N.V. QURE shares were also up, gaining 130% to $16.78 after the company announced an agreement with the FDA on key elements of an accelerated pathway for AMT-130.
Equities Trading DOWN
- CervoMed Inc. CRVO shares dropped 78% to $2.2250 after the company announced its Phase 2b trial of Neflamapimod failed to meet its key endpoints for the treatment of dementia.
- Shares of Yext, Inc. YEXT were down 18% to $7.01 following third-quarter results.
- MEDIROM Healthcare Technologies Inc. MRM was down, falling 47% to $1.50. MEDIROM Healthcare priced its $5 million public offering of 2.86 million American Depositary Shares at $1.75 per ADS.
Commodities
In commodity news, oil traded up 0.8% to $68.94 while gold traded up 1.2% at $2,718.90.
Silver traded up 0.3% to $32.710 on Tuesday, while copper fell 0.3% to $4.2635.
Euro zone
European shares closed lower today. The eurozone's STOXX 600 fell 0.52%, Germany's DAX fell 0.08% and France's CAC 40 fell 1.14%. Spain's IBEX 35 Index fell 0.38%, while London's FTSE 100 fell 0.86%.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan's Nikkei 225 gaining 0.18%, Hong Kong's Hang Seng Index gaining 2.76%, China's Shanghai Composite Index falling 0.05% and India's BSE Sensex falling 0.25%.
Economics
U.S. nonfarm business sector labor productivity increased by 2.2% in the third quarter, in-line with the preliminary reading.
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