Gold Moves Higher; Estée Lauder Shares Slide

U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining around 0.6% on Tuesday.

The Dow traded up 0.13% to 44,481.08 while the NASDAQ gained 1.18% to 19,620.50. The S&P 500 also rose, gaining, 0.58% to 6,029.54.

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Leading and Lagging Sectors

Energy shares surged by 1.9% on Monday.

In trading on Monday, utilities shares fell by 0.9%.

Top Headline

U.S. factory orders fell by 0.9% from the previous month to $578.5 billion in December, compared to a revised 0.8% decline in the previous month.

Equities Trading UP
                       

• Spotify Technology S.A. SPOT shares shot up 12% to $612.66 after the company reported better-than-expected fiscal fourth-quarter 2024 financial results.
• Shares of Palantir Technologies Inc. PLTRgot a boost, surging 23% to $103.15 after the company reported better-than-expected financial results for the fourth quarter and issued strong guidance. Several analysts also lifted price targets following the print.
• Quantum BioPharma Ltd. QNTM shares were also up, gaining 81% to $5.75 after the company announced positive clinical trial results for its unbuzzd dietary supplement, showing it accelerated the reduction of blood alcohol concentration.

Equities Trading DOWN

• Universe Pharmaceuticals INC UPC shares dropped 35% to $0.2750 after the company announced Nasdaq delisting notice.
• Shares of The Estée Lauder Companies Inc. EL were down 15% to $70.56 after the company issued weak third-quarter guidance.
• Atkore Inc. ATKR was down, falling 21% to $62.91 after the company lowered its 2025 guidance.

Commodities

In commodity news, oil traded down 0.2% to $73.00 while gold traded up 0.7% at $2,876.60.

Silver traded up 1.7% to $33.065 on Tuesday, while copper rose 1.3% to $4.3615.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.22%, Germany’s DAX 40 gained 0.36% and France’s CAC 40 gained 0.66%. Spain’s IBEX 35 Index rose 1.37%, while London’s FTSE 100 fell 0.15%.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan’s Nikkei 225 gaining 0.72%, Hong Kong’s Hang Seng Index jumping 2.83% and India’s BSE Sensex gaining 1.81%.

Economics

• The Logistics Manager’s Index rose to 62 in January versus 57.3 in December.
• The RealClearMarkets/TIPP Economic Optimism Index rose to 52 in February, compared to market estimates of 53.
• U.S. job openings declined by 556,000 to 7.6 million in December, compared to market estimates of 8.0 million.
• U.S. factory orders fell by 0.9% from the previous month to $578.5 billion in December, compared to a revised 0.8% decline in the previous month.

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