Crude Oil Down 2%; D.R. Horton Earnings Top Views

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining over 450 points on Tuesday.

The Dow traded up 1.07% to 43,951.84 while the NASDAQ rose 0.71% to 19,770.38. The S&P 500 also rose, gaining, 0.85% to 6,047.41.

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Leading and Lagging Sectors

Utilities shares surged by 1.6% on Tuesday.

In trading on Tuesday, energy shares fell by 0.6%.

Top Headline

D.R. Horton, Inc. DHI reported better-than-expected first-quarter results.

Sales fell 1% year-over-year to $7.61 billion, beating the consensus of $7.08 billion. EPS was $2.61, beating the consensus of $2.44.

Equities Trading UP
                       

• Evolus Inc EOLS shares shot up 32% to $13.92 after the company announced it expects FDA approval for Evolysse gels within 90 days and is eyeing a second-quarter 2025 rollout in the US. Additionally, the company reported FY24 revenue results and provided FY25 guidance.
• Shares of Helius Medical Technologies Inc HSDTgot a boost, surging 41% to $1.06 after the company announced it exceeded its initial enrollment target for its stroke pivotal study.
• InMed Pharmaceuticals Inc INM shares were also up, gaining 36% to $6.75 after the company announced that INM-901 reduced Alzheimer ‘s-related inflammation in a preclinical study.

Equities Trading DOWN

• Canoo Inc GOEV shares dropped 66% to $0.46 after the electric vehicle company filed for Chapter 7 bankruptcy.
• Shares of FTAI Aviation Ltd FTAI were down 30% to $78.35 after the company announced it may delay its FY24 10-K filing.
• New Oriental Education & Tech Grp EDU was down, falling 24% to $46.26 after the company reported a second-quarter EPS miss.

Commodities

In commodity news, oil traded down 2.3% to $76.09 while gold traded down 0.1% at $2,748.20.

Silver traded up 0.6% to $31.335 on Tuesday, while copper fell 1.4% to $4.3070.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 surged 0.16%, Germany’s DAX 40 rose 0.05% and France’s CAC 40 gained 0.33%. Spain’s IBEX 35 Index fell 0.15%, while London’s FTSE 100 gained 0.07%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 falling 0.31%, China’s Shanghai Composite Index gaining 0.18%, Hong Kong’s Hang Seng Index climbing 0.31% and India’s BSE Sensex falling 0.55%.

Economics

No major economic reports are scheduled for release today.

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