Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded mixed this morning, with the Dow Jones index gaining more than 100 points on Tuesday.
Following the market opening Tuesday, the Dow traded up 0.35% to 37,865.71 while the NASDAQ fell 0.13% to 15,865.09. The S&P 500 also fell, dropping, 0.12% to 5,055.53.
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Leading and Lagging Sectors
Health care shares rose by 0.4% on Tuesday.
In trading on Tuesday, real estate shares fell by 1.7%.
Top Headline
Bank of America Corp (NYSE: BAC) reported better-than-expected earnings for its first quarter.
The company posted quarterly adjusted net income of $7.2 billion and adjusted EPS of 83 cents, beating the consensus of 77 cents. Revenue, net of interest expense, decreased 2% year over year to $25.8 billion. Adjusted revenue declined 1.6% year over year to $25.98 billion, beating the consensus of $25.46 billion.
Equities Trading UP
Palisade Bio, Inc. (NASDAQ: PALI) shares shot up 97% to $8.18 after the company announced the completion of analysis evaluating ex-vivo bioactivation of PALI-2108.
Shares of WiSA Technologies, Inc. (NASDAQ: WISA) got a boost, surging 66% to $2.9136 after the company announced a 5-year WiSA E licensing agreement with an HDTV/PTV brand.
Dynatronics Corporation (NASDAQ: DYNT) shares were also up, gaining 58% to $0.5850 after falling over 5% on Monday.
Equities Trading DOWN
Barnes & Noble Education, Inc. (NYSE: BNED) shares dropped 70% to $0.2049 after the company announced a short-term shareholder rights plan and a new equity investment.
Shares of Calidi Biotherapeutics, Inc. (NYSE: CLDI) were down 52% to $0.2910 after the company announced the pricing of a $6.1 million public offering.
Pacific Biosciences of California, Inc. (NASDAQ: PACB) was down, falling 37% to $1.80 after the company issued weak guidance.
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Commodities
In commodity news, oil traded down 0.4% to $85.03 while gold traded up 0.1% at $2,386.00.
Silver traded down 1.4% to $28.33 on Tuesday, while copper fell 1.6% to $4.311.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 dipped 1.4%, London’s FTSE 100 fell 1.4% while Spain’s IBEX 35 Index declined 1.1% The German DAX dipped 1.4% French CAC 40 fell 1.3% while Italy’s FTSE MIB Index declined 1.6%.
The Eurozone reported a trade surplus of €23.6 billion in February, up from a year-ago surplus of €3.6 billion. The ZEW Indicator of Economic Sentiment for the Eurozone improved by 10.4 points to a reading of 43.9 in April.
The ZEW Indicator of Economic Sentiment for Germany climbed to 42.9 in April, compared to 31.7 in March, and topping market estimates of 35.9, while German wholesale prices declined by 3% year-over-year in March. The annual inflation rate in Italy accelerated to 1.2% in March from 0.8% in February.
Average weekly earnings, including bonuses, in the UK rose 5.6% year-over-year to GBP 677/week during the three months to February, while unemployment rate increased to 4.2% from 3.9%.
Asia Pacific Markets
Asian markets closed lower on Tuesday, with Japan’s Nikkei 225 falling 1.94%, Hong Kong’s Hang Seng Index dropping 2.12%, China’s Shanghai Composite falling 1.65% and India’s S&P BSE Sensex dipping 0.62%.
Chinese retail sales climbed by 3.1% year-over-year in March compared to a 5.5% gain in the earlier period, while Chinese economy expanded by 1.6% in the first quarter versus a revised 1.2% gain in the prior quarter. China's industrial production surged by 4.5% year-over-year in March.
Economics
U.S. building permits declined by 4.3% to an annual rate of 1.458 million in March, compared to a 2.3% increase in February.
Housing starts in the U.S. dipped 14.7% month-over-month to an annual rate of 1.321 million in March versus revised 1.549 million level in the prior month.
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