U.S. stocks saw mixed movement as trading came to a close, with the Dow Jones Industrial Average climbing more than 80 points on Tuesday.
On the day, the Dow traded up 0.21% to 39,397.20, the NASDAQ surged 0.23% to 16,421.62, and the S&P 500 followed suit, gaining 0.17% to reach 5,227.03.
Sector Performance Overview
Consumer discretionary stocks recorded a 0.6% increase on Monday, while utilities shares dropped by 1% during the day’s trading session.
TD SYNNEX Shines With Earnings Beat
TD SYNNEX Corporation SNX reported robust first-quarter earnings that surpassed analysts’ expectations.
The corporation posted adjusted earnings per share of $2.99 for the quarter, beating the consensus estimate of $2.84. However, quarterly revenue fell short of expectations, coming in at $13.975 billion compared to the anticipated $14.357 billion.
Stocks on the Rise
Stoke Therapeutics, Inc. STOK experienced a significant surge, with shares jumping 72% to $11.19 following positive Phase 1/2a data for STK-001.
Meanwhile, Mesoblast Ltd MESO saw its stock price soar by 66% to $3.6420 after receiving favorable feedback from the FDA regarding its clinical data for remestemcel-L.
OpGen, Inc. OPGN also witnessed a 47% increase, reaching $0.6972, following a notable securities purchase agreement.
Declining Stocks
Cardlytics Inc CDLX faced a 33% drop to $13.65 after announcing a proposed convertible senior notes offering of $150 million.
Similarly, shares of GDS Holdings Ltd – ADR GDS plummeted by 26% to $6.20 due to fourth-quarter results and other announcements.
AppTech Payments Corp. APCX also experienced a decline, dropping 42% to $0.9548 after pricing a 2 million share offering at $1 per share.
Commodity Market Movements
Oil prices dipped by 0.5% to $81.53, while gold saw a 0.1% increase to reach $2,178.70. Silver fell 1% to $24.635, and copper dropped by 0.2% to $4.0085 on Monday.
European and Asian Markets
European shares demonstrated strength, with the STOXX 600 in the eurozone climbing by 0.24%. Notable increases were seen in London’s FTSE 100, Germany’s DAX, France’s CAC 40, and Spain’s IBEX 35 Index. In Asia, markets closed with mixed results, as the Nikkei 225 in Japan fell slightly, Hong Kong’s Hang Seng Index and China’s Shanghai Composite Index edged higher, while India’s S&P BSE Sensex declined.
Hong Kong reported a narrowed trade deficit of $41.7 billion in February compared to the prior year.
Economic Indicators
U.S. durable goods orders rose by 1.4% in February, while the S&P CoreLogic Case-Shiller 20-city home price index showed a 6.6% year-on-year increase for January. In contrast, the FHFA house price index declined by 0.1% in January, and the Dallas Fed general business activity index for Texas’ service sector dropped to -5.5 in March.
Investors are keeping an eye on opportunities, such as those presented by Micron Technology Stock, following last week’s strong earnings.
