Crude Oil Moves Lower; TD SYNNEX Earnings Top Estimates
U.S. stocks traded higher toward the end of trading, with the Dow Jones gaining over 80 points on Tuesday.
The Dow traded up 0.21% to 39,397.20 while the NASDAQ rose 0.23% to 16,421.62. The S&P 500 also rose, gaining, 0.17% to 5,227.03.
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Leading and Lagging Sectors
Consumer discretionary shares jumped by 0.6% on Monday.
In trading on Monday, utilities shares fell by 1%.
Top Headline
TD SYNNEX Corporation (NYSE:SNX) reported better-than-expected first-quarter earnings.
The company reported first quarter adjusted earnings per share of $2.99, beating the street view of $2.84. The company reported quarterly revenue of $13.975 billion, missing the analyst view of $14.357 billion.
Equities Trading UP
Stoke Therapeutics, Inc. (NASDAQ:STOK) shares shot up 72% to $11.19 after the company announced Phase 1/2a data supporting the potential for STK-001 in Dravet syndrome.
Shares of Mesoblast Ltd (NASDAQ:MESO) got a boost, surging 66% to $3.6420 after the FDA informed the company that the available clinical data from its Phase 3 study MSB-GVHD001 appears sufficient to support submission of the proposed Biologics License Application for remestemcel-L for treatment of pediatric patients with steroid-refractory acute graft versus host disease.
OpGen, Inc. (NASDAQ:OPGN) shares were also up, gaining 47% to $0.6972 after the company entered into a securities purchase agreement with a private investor, David Lazar, to acquire 3 million shares of Series E Convertible Preferred Stock at $1.00 per share for aggregate gross proceeds of $3.0 million.
Equities Trading DOWN
Cardlytics Inc (NASDAQ:CDLX) shares dropped 33% to $13.65 after the company announced a $150 million proposed convertible senior notes offering.
Shares of GDS Holdings Ltd - ADR (NASDAQ:GDS) were down 26% to $6.20 after the company reported fourth-quarter results, disclosed equity raise and new CEO for its international business.
AppTech Payments Corp. (NASDAQ:APCX) was down, falling 42% to $0.9548 after the company priced its 2 million share offering at $1 per share.
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Commodities
In commodity news, oil traded down 0.5% to $81.53 while gold traded up 0.1% at $2,178.70.
Silver traded down 1% to $24.635 on Monday, while copper fell 0.2% to $4.0085.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.24%, London’s FTSE 100 rose 0.17% while Spain’s IBEX 35 Index rose 0.36% The German DAX rose 0.67% French CAC 40 rose 0.41% while Italy’s FTSE MIB Index rose 0.14%.
The GfK Consumer Climate Indicator for Germany rose to -27.4 heading into April compared to a revised reading of -28.8 in the prior period. Spanish economy grew 0.6% in the fourth quarter, compared to a 0.4% increase in the prior period.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 falling 0.04%, Hong Kong’s Hang Seng Index gaining 0.88%, China’s Shanghai Composite Index gaining 0.17% and India’s S&P BSE Sensex falling 0.50%.
Hong Kong’s trade deficit narrowed to $41.7 billion in February versus a $45.4 billion gap recorded in the year-ago period.
Economics
U.S. durable goods orders increased by 1.4% month-over-month in February versus a revised 6.9% decline in January.
The S&P CoreLogic Case-Shiller 20-city home price index increased by 6.6% year-over-year in January compared to a 6.2% gain in the prior month.
The FHFA house price index fell by 0.1% in January.
The Dallas Fed general business activity index for Texas' service sector fell to a reading of -5.5 in March from -3.9 in February.
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