Nasdaq Surges 200 Points; US Producer Prices Increase 0.1% In July

Benzinga08-13

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 200 points on Tuesday.

The Dow traded up 0.47% to 39,542.44 while the NASDAQ rose 1.24% to 16,989.15. The S&P 500 also rose, gaining, 0.83% to 5,388.59.

Leading and Lagging SectorsInformation technology shares climbed by 1.4% on Tuesday.

In trading on Tuesday, energy shares fell 0.8%.

Top Headline

U.S. producer prices rose 0.1% month-over-month in July compared to a 0.2% increase in June and versus market expectations of 0.2%.

Equities Trading UP                       

  • Vicinity Motor Corp.. (NASDAQ:VEV) shares shot up 154% to $0.2581 after dipping around 14% on Monday.
  • Shares of CXApp Inc. (NASDAQ:CXAI) got a boost, surging 92% to $2.83 after the company announced a deal and multi-year agreement with Google Cloud.
  • Apollomics, Inc. (NASDAQ:APLM) shares were also up, gaining 41% to $0.2240 after the company announced preliminary data and a 43% response rate for its phase 2 SPARTA trial of Vebreltinib.

Equities Trading DOWN

  • Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) shares dropped 59% to $2.03 after the company announced it will discontinue enrollment in the SELECT-AML-1 Phase 2 clinical trial.
  • Shares of Genprex, Inc. (NASDAQ:GNPX) were down 32% to $0.8699. Genprex was granted patent in Singapore for Reqorsa Gene Therapy in combination with PD-1 antibodies through 2037
  • TELA Bio, Inc. (NASDAQ:TELA) was down, falling 30% to $2.77 after the company reported worse-than-expected second-quarter financial results.

CommoditiesIn commodity news, oil traded down 0.8% to $79.32 while gold traded up 0.2% at $2,509.60.

Silver traded down 1.1% to $27.70 on Tuesday, while copper fell 0.8% to $4.0340.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.2%, Germany's DAX rose 0.2% and France's CAC 40 fell 0.1%. Spain's IBEX 35 Index rose 0.4%, while London's FTSE 100 rose 0.2%.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan's Nikkei 225 jumping 3.45%, Hong Kong's Hang Seng Index gaining 0.36%, China's Shanghai Composite Index gaining 0.34% and S&P BSE Sensex falling 0.87%.

Economics

U.S. producer prices rose 0.1% month-over-month in July compared to a 0.2% increase in June and versus market expectations of 0.2%.

Now Read This: Starbucks To Rally Around 43%? Here Are 10 Top Analyst Forecasts For Tuesday

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment