Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded lower toward the end of trading, with the S&P 500 falling around 0.4% on Tuesday.
The Dow traded down 0.46% to 38,713.72 while the NASDAQ fell 0.24% to 16,215.32. The S&P 500 also fell, dropping, 0.39% to 5,182.36.
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Leading and Lagging Sectors
Real estate shares jumped by 0.8% on Tuesday.
In trading on Tuesday, financial shares fell by 0.7%.
Top Headline
The NFIB Small Business Optimism Index declined for a third straight month to a reading of 88.5 in March, compared to market estimates of 90.2.
Equities Trading UP
Laser Photonics Corporation (NASDAQ: LASE) shares shot up 98% to $2.8450 after the company announced it secured an order for its LaserTower COMPACT marking and engraving system from L3Harris Technologies.
Shares of Acrivon Therapeutics, Inc. (NASDAQ: ACRV) got a boost, surging 95% to $11.54. The company announced a $130 million private placement financing.
Syros Pharmaceuticals, Inc. (NASDAQ: SYRS) shares were also up, gaining 22% to $5.49. Syros received Fast Track Designation from the FDA for tamibarotene for the treatment of newly diagnosed unfit AML with RARA gene overexpression.
Equities Trading DOWN
Vincerx Pharma, Inc. (NASDAQ: VINC) shares dropped 75% to $1.20 after the company presented preliminary Phase 1 data for VIP236 and updates on pipeline progress at the AACR Annual Meeting 2024.
Shares of Cognyte Software Ltd. (NASDAQ: CGNT) were down 13% to $7.33 after the company reported fourth-quarter results and issued FY25 guidance.
Tilray Brands, Inc. (NASDAQ: TLRY) was down, falling 20% to $2.0812 after the company missed third-quarter estimates and said it no longer expects to generate positive adjusted free cash flow for the full fiscal year 2024.
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Commodities
In commodity news, oil traded down 1.4% to $85.19 while gold traded up 0.7% at $2,367.40.
Silver traded up 1.2% to $28.14 on Tuesday, while copper rose 0.3% to $4.2885.
Euro zone
European shares closed lower today. The eurozone’s STOXX 600 fell 0.61%, London’s FTSE 100 fell 0.11% while Spain’s IBEX 35 Index fell 0.88% The German DAX fell 1.32% French CAC 40 fell 0.86% while Italy’s FTSE MIB Index fell 1.08%.
French trade deficit shrank to €5.2 billion in February 2024 versus a revised €7.2 billion gap in the prior month. Retail sales in the UK gained 3.2% from a year ago in March.
Asia Pacific Markets
Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 1.08%, Hong Kong’s Hang Seng Index gaining 0.57%, China’s Shanghai Composite gaining 0.05% and India’s S&P BSE Sensex falling 0.08%.
Foreign exchange reserves in Hong Kong fell to $423.6 billion in March from $425.2 billion in the prior month. Japanese machine tool orders fell 8.5% year-over-year to JPY 135,647 million in March compared to a 8% decline in the prior month, while consumer confidence index in Japan rose to 39.5 in March versus a revised reading of 39.0 in the prior month.
Economics
The NFIB Small Business Optimism Index declined for a third straight month to a reading of 88.5 in March, compared to market estimates of 90.2.
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