Breaking News
Get 40% Off 0
Is NVDA a 🟢 buy or 🔴 sell? Unlock Now

Nasdaq Jumps 100 Points; US Trade Deficit Widens In September

Published Nov 07, 2023 17:05 Updated Nov 07, 2023 18:10
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Nasdaq Jumps 100 Points; US Trade Deficit Widens In September
 
TXMD
-0.44%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
TMDX
-1.97%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
ALTO
-0.91%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
SLDB
+5.26%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
OPRT
+3.47%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
PCVX
+4.06%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Benzinga - by Lisa Levin, Benzinga Editor.

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 100 points on Tuesday

The Dow traded up 0.19% to 34,159.14 while the NASDAQ rose 0.84% to 13,631.99. The S&P 500 also rose, gaining, 0.30% to 4,379.06.

Check This Out: Top 4 Industrial Stocks That Could Sink Your Portfolio In November

Leading and Lagging Sectors

Information technology shares jumped by 1% on Tuesday.

In trading on Tuesday, energy shares fell by 2.2%.

Top Headline

The trade deficit in the U.S. increased to $61.5 billion in September versus a revised $58.7 billion gap in the prior month and compared to market estimates of $59.9 billion.

Equities Trading UP

TransMedics Group, Inc. (NASDAQ: TXMD) shares shot up 62% to $65.22 after the company reported better-than-expected third-quarter sales results and issued strong FY23 revenue guidance.

Shares of Senti Biosciences, Inc. (NASDAQ: SNTI) got a boost, shooting 70% to $0.4974 after the company reported a new strategic collaboration with Celest Therapeutics for the clinical development of SENTI-301A in China.

Tharimmune, Inc. (NASDAQ: THAR) shares were also up, gaining 49% to $0.2350 as the company disclosed the execution of an exclusive worldwide licensing agreement with Avior Inc. d/b/a Avior Bio, LLC to develop, market and commercialize a clinical-stage asset, AV104.

Equities Trading DOWN

Ventyx Biosciences, Inc. (NASDAQ: VTYX) shares dropped 81% to $2.64 after the company announced efficacy results from the Phase 2 trial of VTX958 in plaque psoriasis did not meet the internal target to support further development of VTX958 in psoriasis.

Shares of Alto Ingredients, Inc. (NASDAQ: ALTO) were down 58% to $2.04 after the company reported mixed third-quarter financial results.

Oportun Financial Corporation (NASDAQ: OPRT) was down, falling 45% to $3.22 after reporting a loss for the third quarter.

Also Check This Out: Jim Cramer Says This Tech Company Reported A 'Dynamite' Quarter: 'I Disliked These Guys For A Long Time, Not Anymore'

Commodities

In commodity news, oil traded down 3% to $78.38 while gold traded down 0.9% at $1,971.00.

Silver traded down 2.8% to $22.58 on Tuesday while copper fell 1.8% to $3.6530.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.15%, London’s FTSE 100 fell 0.13% while Spain’s IBEX 35 Index fell 0.18% The German DAX gained 0.05% French CAC 40 fell 0.38%, while Italy’s FTSE MIB Index fell 0.59%.

Industrial producer prices in the Eurozone declined by 12.4% year-over-year in September versus an 11.5% decline a month ago, while the HCOB construction PMI declined to 42.7 in October from 43.6 in September.

The S&P Global France construction PMI declined to 41 in October from 43.7 in September, while German construction PMI fell to 38.3 in October, recording the lowest reading since April 2020. Industrial production in Germany fell 1.4% month-over-month for September, while UK’s Halifax House Price Index fell by 3.2% year-over-year in October.

Asia Pacific Markets

Asian markets closed lower on Tuesday, with Japan’s Nikkei 225 falling 1.34%, Hong Kong’s Hang Seng Index declining 1.65% and China’s Shanghai Composite Index falling 0.04%. India’s S&P BSE Sensex, meanwhile, fell around 0.03%.

China's trade surplus in October 2023 narrowed to $56.53 billion from $82.35 billion in the year-ago-month. Chinese foreign exchange reserves fell to $3.101 trillion in October from the previous month's reading of $3.115 trillion, while foreign exchange reserves in Hong Kong increased to $416 billion in October.

Economics

The Logistics Manager’s Index in the U.S. rose to 56.5 in October versus 52.4 in the prior month.

The Manheim Used Vehicle Value Index fell 2.3% month-over-month for October.

The trade deficit in the U.S. increased to $61.5 billion in September versus a revised $58.7 billion gap in the prior month and compared to market estimates of $59.9 billion.

Now Read This: Insiders Selling Amazon, Costco And 2 Other Stocks

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Nasdaq Jumps 100 Points; US Trade Deficit Widens In September
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email