U.S. stocks soared towards market close, with the Dow Jones climbing over 80 points on Tuesday.
The Dow rose by 0.21% to 39,397.20, the NASDAQ went up by 0.23% to 16,421.62, and the S&P 500 increased by 0.17% to 5,227.03.
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Sector Performance
Consumer discretionary stocks showed a 0.6% surge on Monday.
However, utilities shares experienced a 1% drop during trading.
TD SYNNEX Beats Earnings Expectations
TD SYNNEX Corporation SNX reported first-quarter earnings that surpassed analyst predictions.
The company’s adjusted earnings per share for the quarter stood at $2.99, beating the street view of $2.84. Despite missing revenue forecasts with $13.975 billion, below the expected $14.357 billion, the earnings announcement was a positive highlight.
Stocks Making Moves
Stoke Therapeutics, Inc. STOK witnessed a 72% surge to $11.19 following promising data for STK-001 in Dravet syndrome.
Mesoblast Ltd MESO saw a 66% increase to $3.6420 after positive FDA feedback for remestemcel-L in treating pediatric patients.
OpGen, Inc. OPGN rose by 47% to $0.6972 due to a strategic partnership announcement.
Stocks in Decline
Cardlytics Inc CDLX faced a 33% drop to $13.65 post a convertible senior notes offering.
GDS Holdings Ltd – ADR GDS declined by 26% to $6.20 after announcing results and changes in leadership.
AppTech Payments Corp. APCX fell by 42% to $0.9548 following an offering priced at $1 per share.
Commodity Market News
Oil prices decreased by 0.5% to $81.53, while gold rose slightly to $2,178.70.
Silver and copper prices experienced declines on Monday.
European Markets Overview
European shares saw gains, with various indexes climbing today. Notably, the GfK Consumer Climate Indicator for Germany and Spain’s economic growth showed positive figures.
Asia Pacific Market Recap
Asian markets closed with mixed results, reflecting diverse performance across countries such as Japan, Hong Kong, China, and India.
Hong Kong’s trade deficit was noted to have narrowed in February compared to the previous year.
Key Economic Indicators
In economic news, U.S. durable goods orders and housing market data showed fluctuations, and the Dallas Fed’s business activity index exhibited a decline in Texas’ service sector.
