Dow Jumps 400 Points; US Retail Sales Flat For June
U.S. stocks traded higher this morning, with the Dow Jones index rising more than 400 points on Tuesday.
Following the market opening Tuesday, the Dow traded up 1% to 40,614.31 while the NASDAQ rose 0.14% to 18,498.00. The S&P 500 also rose, gaining, 0.33% to 5,649.84.
Check This Out: Wall Street’s Most Accurate Analysts Weigh In On 3 Industrials Stocks Delivering High-Dividend Yields
Leading and Lagging Sectors
Industrials shares jumped by 1.2% on Tuesday.
In trading on Tuesday, energy shares fell by 0.6%.
Top Headline
U.S. retail sales came in flat month-over-month for June compared to a revised 0.3% gain in the previous period.
Equities Trading UP
- Silo Pharma, Inc. (NASDAQ:SILO) shares shot up 83% to $1.97 after the company obtained an exclusive global license to develop, manufacture, and commercialize its Alzheimer’s drug.
- Shares of Yoshitsu Co., Ltd (NASDAQ:TKLF) got a boost, surging 78% to $0.5450 after the company reported a year-over-year increase in FY24 financial results.
- Logistic Properties of the Americas (NYSE:LPA) shares were also up, gaining 37% to $21.06.
Equities Trading DOWN
- Autonomix Medical, Inc. (NASDAQ:AMIX) shares dropped 22% to $1.08. Autonomix shares jumped 130% on Monday after the company entered into an agreement with RF Innovations to license intellectual property for its Apex 6 Radiofrequency Generator.
- Shares of Cyngn Inc. (NASDAQ:CYN) were down 21% to $7.28 after jumping 54% on Monday.
- Clearmind Medicine Inc (NASDAQ:CMND) was down, falling 14% to $1.8950. Clearmind Medicine announced the FDA clearance for IND application of MEAI-based CMND-100 oral capsule.
Also Check This Out: Tecogen And 3 Other Stocks Under $5 Insiders Are Buying
Commodities
In commodity news, oil traded down 1.6% to $80.61 while gold traded up 0.7% at $2,445.10.
Silver traded up 0.5% to $31.095 on Tuesday, while copper fell 0.6% to $4.5005.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.5, Germany's DAX fell 0.6% and France's CAC 40 fell 0.8%. Spain's IBEX 35 Index fell 0.9%, while London's FTSE 100 fell 0.4%.
The ZEW Indicator of Economic Sentiment for the Eurozone fell by 7.6 points to a reading of 43.7 in July, while Eurozone posted a trade surplus of EUR 13.9 billion in May versus a year-ago gap of EUR 0.4 billion.
The ZEW Indicator of Economic Sentiment for Germany fell to 41.8 in July, recording the first decline in a year. Italy reported a trade surplus of EUR 6.43 billion in May versus a year-ago surplus of EUR 4.767 billion year.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.20%, Hong Kong's Hang Seng Index falling 1.60%, China's Shanghai Composite Index gaining 0.08% and India's S&P BSE Sensex gaining 0.06%.
Economics
- U.S. retail sales came in flat month-over-month for June compared to a revised 0.3% gain in the previous period.
- Import prices came in unchanged from the prior month in June, while export prices in the U.S. declined 0.5% month-over-month in June.
Now Read This: