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Midway through trading Tuesday, the Dow traded up 1.47% to 26,277.25 while the NASDAQ rose 1.87% to 8,010.63. The S&P also rose, gaining 1.38% to 2,922.79.
Leading and Lagging Sectors
Information technology shares climbed 2.3% on Monday. Meanwhile, top gainers in the sector included Mmtec, Inc. (NASDAQ:MTC), up 200%, and GTT Communications, Inc. (NYSE:GTT), up 14%.
In trading on Monday, real estate shares tumbled 0.4%.
Top Headline
Advance Auto Parts, Inc. (NYSE:AAP) reported weaker-than-expected earnings for its second quarter.
Advance Auto Parts reported second-quarter earnings of $2 per share, which missed the analyst consensus estimate of $2.21. The company reported quarterly sales of $2.3 billion, which missed the analyst consensus estimate of $2.36 billion.
Equities Trading UP
Deciphera Pharmaceuticals Inc (NASDAQ:DCPH) shares shot up 98% to $39.57 following a couple of clinical readouts from the company. Deciphera released updated data from a Phase 1 study of ripretinib, which continued to support the pipeline asset's potential across the broad range of KIT and PDGR-alpha mutations that occur in patients with second-line through fourth-line gastrointestinal stromal tumors. Separately, the biotech announced positive top-line data from the INVICTUS pivotal Phase 3 study of ripretinib in patients with fourth-line and fourth-line plus gastrointestinal stromal tumors. The study achieved the primary endpoint of improved progression free survival as determined by blinded independent central radiologic review using modified Response Evaluation Criteria in Solid Tumors version 1:1.
Shares of Alcentra Capital Corp (NASDAQ:ABDC) got a boost, shooting up 14% to $9.22 after the company announced it will be acquired by Crescent BDC for $141.9 million.
OptiNose, Inc. (NASDAQ:OPTN) shares were also up, gaining 23% to $6.89 following strong second-quarter earnings and sales figures.
Equities Trading DOWN
Ra Medical Systems, Inc. (NYSE:RMED) shares tumbled 58% to $1.18 after the company preliminary results for its second quarter. Ra Medical announced plans to delay Q2 earnings release and reported that its Audit Committee has begun independent investigation related to anonymous complaint.
Shares of Covetrus, Inc. (NASDAQ:CVET) were down 46% to $12.51 after the company reported worse-than-expected Q2 EPS and sales results.
Guardion Health Sciences, Inc. (NASDAQ:GHSI) was down, falling 62% to $0.226. Guardion Health Sciences priced 13 million shares at $0.40 per share.
Commodities
In commodity news, oil traded up 4% to $57.12, while gold traded down 0.2% to $1,514.90.
Silver traded down 0.5% Tuesday to $16.99, while copper rose 1.6% to $2.625.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.62%, the Spanish Ibex Index rose 0.35%, while Italy’s FTSE MIB Index climbed 1.26%. Meanwhile, the German DAX gained 0.65%, and the French CAC 40 rose 1.05% while UK shares rose 0.35%.
Economics
The NFIB small business optimism index increased 1.4 points month to 104.7 in July.
The Consumer Price Index rose 0.3% for July, versus economists’ expectations for a 0.3% gain.
The Johnson Redbook Retail Sales Index fell 2% during the first week of August versus July.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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