U.S. stocks traded higher this morning, with the Dow Jones index gaining around 400 points on Tuesday.

Following the market opening Tuesday, the Dow traded up 0.90% to 45,625.16 while the NASDAQ rose 1.61% to 21,128.95. The S&P 500 also rose, gaining, 1.23% to 6,421.63.

Leading and Lagging Sectors

Communication services shares climbed by 1.8% on Tuesday.

In trading on Tuesday, utilities stocks fell by 0.6%.

Top Headline

TD SYNNEX Corporation (NYSE:SNX) posted better-than-expected earnings for the first quarter on Tuesday.

The company posted adjusted EPS of $4.73, beating market estimates of $3.31. The company's sales came in at $17.161 billion, versus estimates of $15.591 billion.

TD Synnex said it sees second-quarter adjusted EPS of $3.75-$4.25, versus market estimates of $3.45. The company sees sales of $16.100 billion-$16.900 billion, versus expectations of $15.798 billion.

Equities Trading UP
           

  • Apellis Pharmaceuticals Inc (NASDAQ:APLS) shares shot up 136% to $40.42 after the company announced that it will be acquired by Biogen for $41 per share.
  • Shares of Hitek Global Inc (NASDAQ:HKIT) got a boost, surging 130% to $0.092.
  • Classover Holdings (NASDAQ:KIDZ) shares were also up, gaining 100% to $4.09 after the company announced it regained Nasdaq compliance.

Equities Trading DOWN

  • IO Biotech Inc (NASDAQ:IOBT) shares dropped 73% to $0.046 after the company announced it filed for Chapter 7 bankruptcy and will cease operations in Delaware.
  • Shares of PepGen Inc (NASDAQ:PEPG) were down 56% to $1.85 following the announcement of topline results from the lowest dose cohort in the ongoing Phase 2 FREEDOM2-DM1 trial of PGN-EDODM1 for myotonic dystrophy type 1 (DM1).
  • Iterum Therapeutics PLC (NASDAQ:ITRM) was down, falling 39% to $0.0432 following the company's announcement of a winding-up petition filed in the High Court in Ireland.

Commodities

In commodity news, oil traded up 0.6% to $103.47 while gold traded up 1.2% at $4,610.30.

Silver traded up 3.6% to $73.135 on Tuesday, while copper rose 0.7% to $5.5425.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.9%, while Spain's IBEX 35 Index rose 1%. London's FTSE 100 surged 0.8%, Germany's DAX gained 0.9% and France's CAC 40 rose 0.7% during the session.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 falling 1.58%, Hong Kong's Hang Seng index gaining 0.15% and China's Shanghai Composite falling 0.80%.

Economics

  • The FHFA house price index rose 0.1% in January following a 0.3% growth in December.
  • The S&P Cotality Case-Shiller home price index increased 1.2% year-over-year in January compared to 1.4% in December and down from market estimates of 1.3%.

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