Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded lower midway through trading, with the Dow Jones index falling around 150 points on Tuesday.
The Dow traded down 0.39% to 38,742.12 while the NASDAQ fell 0.16% to 16,227.77. The S&P 500 also fell, dropping, 0.29% to 5,187.10.
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Leading and Lagging Sectors
Real estate shares jumped by 0.3% on Tuesday.
In trading on Tuesday, financial shares fell by 1.2%.
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 139% to $3.4239 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 69% to $10.00. The company announced a $130 million private placement financing.
Biophytis S.A. (NASDAQ: BPTS) shares were also up, gaining 10% to $0.3493 after reporting FY23 results.
Equities Trading DOWN
Vincerx Pharma, Inc. (NASDAQ: VINC) shares dropped 74% to $1.2250 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 16% to $7.04 after the company reported fourth-quarter results and issued FY25 guidance.
Tilray Brands, Inc. (NASDAQ: TLRY) was down, falling 21% to $2.0393 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 0.9% to $85.65 while gold traded up 0.9% at $2,370.90.
Silver traded up 1.1% to $28.10 on Tuesday, while copper fell 0.1% to $4.2710.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.68%, London’s FTSE 100 fell 0.25% while Spain’s IBEX 35 Index fell 0.81% The German DAX fell 1.32% French CAC 40 fell 0.95% while Italy’s FTSE MIB Index fell 1.17%.
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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