Nasdaq Jumps 100 Points; Charles Schwab Profit Beats Estimates

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 100 points on Tuesday.

The Dow traded up 1% to 43,920.68 while the NASDAQ rose 0.55% to 19,738.47. The S&P 500 also rose, gaining, 0.71% to 6,039.46.

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Leading and Lagging Sectors

Industrials shares surged by 1.8% on Tuesday.

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

Top Headline

Charles Schwab Corporation SCHW reported better-than-expected fourth-quarter financial results.

Charles Schwab reported quarterly earnings of $1.01 per share which beat the analyst consensus estimate of 91 cents per share. The company reported quarterly sales of $5.33 billion which beat the analyst consensus estimate of $5.19 billion.

Equities Trading UP

Evolus Inc EOLS shares shot up 28% to $13.44 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 30% to $0.98 after the company announced it exceeded its initial enrollment target for its stroke pivotal study.
Replimune Group, Inc. REPL shares were also up, gaining 18% to $11.98 after the company announced the FDA has accepted the biologics license application for RP1 in combination with nivolumab for patients with advanced melanoma.

Equities Trading DOWN

Canoo Inc GOEV shares dropped 74% to $0.3523 after the electric vehicle company filed for Chapter 7 bankruptcy.
Shares of FTAI Aviation Ltd FTAI were down 29% to $79.88 after the company announced it may delay its FY24 10-K filing.
New Oriental Education & Tech Grp EDU was down, falling 24% to $46.53 after the company reported a second-quarter EPS miss.

Commodities

In commodity news, oil traded down 2.3% to $76.09 while gold traded up 0.3% at $2,756.90.

Silver traded up 1.1% to $31.480 on Tuesday, while copper fell 0.8% to $4.3330.

Euro zone

European shares closed mostly higher today. The eurozone's STOXX 600 surged 0.40%, Germany's DAX 40 rose 0.25% and France's CAC 40 gained 0.48%. Spain's IBEX 35 Index fell 0.14%, while London's FTSE 100 gained 0.33%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.32%, China's Shanghai Composite Index falling 0.05%, Hong Kong's Hang Seng Index climbing 0.91% and India's BSE Sensex falling 1.60%.

Economics

No major economic reports are scheduled for release today.

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