Benzinga - by Lisa Levin, Benzinga Editor.
U.S. stocks traded higher midway through trading, with the Dow Jones gaining around 500 points on Tuesday.
The Dow traded up 1.42% to 34,833.89 while the NASDAQ rose 2.34% to 14,089.95. The S&P 500 also rose, gaining, 1.93% to 4,496.87.
Check This Out: Top 4 Risk Off Stocks You'll Regret Missing In Q4
Leading and Lagging Sectors
Real estate shares surged by 4.6% on Tuesday.
In trading on Tuesday, energy shares rose by just 0.2%.
Top Headline
The annual inflation rate in the U.S. eased to 3.2% in October versus 3.7% in both September and August, and compared to market estimates of 3.3%.
Equities Trading UP
BioCardia, Inc. (NASDAQ: BCDA) shares shot up 206% to $1.22 after the company announced the FDA approval of its Phase 3 clinical trial of its CardiAMP autologous cell therapy for the treatment of patients with ischemic heart failure.
Shares of INVO Bioscience, Inc. (NASDAQ: INVO) got a boost, shooting 28% to $2.06 after the company posted a narrower loss for the third quarter.
Theseus Pharmaceuticals, Inc. (NASDAQ: THRX) shares were also up, gaining 50% to $3.21 after the company announced process to explore strategic alternatives.
Equities Trading DOWN
The Beauty Health Company (NASDAQ: SKIN) shares dropped 60% to $1.54 after the company reported weaker-than-expected financial results for its third quarter and revised its net sales outlook. Also, the company suspended its long-term full-year 2025 forecast.
Shares of Kubient, Inc. (NASDAQ: KBNT) were down 51% to $0.11. Kubient announced voluntary delisting from Nasdaq Capital Market.
Applied UV, Inc. (NASDAQ: AUVI) was down, falling 44% to $0.1502. Applied UV announced pricing of $6.4 million upsized underwritten public offering of 42,666,666 units at $0.15 per unit.
Also Check This Out: Oracle, Qualcomm And 2 Other Stocks Insiders Are Selling
Commodities
In commodity news, oil traded up 1.6% to $79.50 while gold traded up 0.9% at $1,967.70.
Silver traded up 3.5% to $23.14 on Tuesday while copper rose 1.1% to $3.7045.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 1.43%, London’s FTSE 100 rose 0.34% while Spain’s IBEX 35 Index rose 1.76% The German DAX rose 1.72% French CAC 40 rose 1.58%, while Italy’s FTSE MIB Index climbed 1.42%.
The ZEW Indicator of Economic Sentiment for the Eurozone surged to 13.8 in November versus 2.3 in the previous month. The GDP in the Eurozone contracted 0.1% on quarter during the three months to September, while number of employed persons increased by 0.3% to 168.7 million people during the same period.
The ZEW Indicator of Economic Sentiment for Germany climbed by 10.9 points to a reading of +9.8 in November, while Spanish annual consumer price inflation was confirmed at 3.5% for October. The number of job vacancies in the UK fell to 957,000 in August to October. Average weekly earnings, including bonuses in the UK, rose 7.9% year-over-year to GBP 673 per week while unemployment rate came in at 4.2% in the third quarter.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 rising 0.34%, Hong Kong’s Hang Seng Index falling 0.17% and China’s Shanghai Composite Index gaining 0.31%.
Indian wholesale prices fell by 0.52% year-over-year in October versus market expectations of a 0.2% decline.
Economics
The annual inflation rate in the U.S. eased to 3.2% in October versus 3.7% in both September and August, and compared to market estimates of 3.3%.
Now Read This: Monday.Com To Rally Around 20%? Here Are 10 Top Analyst Forecasts For Tuesday
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.