US Stocks Lower; Retail Sales Decline In May - Acurx Pharmaceuticals (NASDAQ:ACXP), CERO TERAPEUTICS HLDG

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 50 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.16% to 42,448.43 while the NASDAQ fell 0.35% to 19,633.04. The S&P 500 also fell, dropping, 0.23% to 6,019.32.

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Leading and Lagging Sectors

Energy shares jumped by 1.4% on Tuesday.

In trading on Tuesday, health care stocks fell by 0.8%.

Top Headline

U.S. retail sales fell 0.9% month-over-month in May compared to a revised 0.1% decline in April and versus market estimates of a 0.7% fall.

Equities Trading UP

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) shares shot up 220% to $0.7219 after the company signed a binding term sheet granting Intact Therapeutics an exclusive option to license PCS12852 for gastroparesis.
Shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) got a boost, surging 160% to $0.7990 after the company announced publication of its Phase 2 ibezapolstat study results in The Lancet.
CERo Therapeutics Holdings, Inc. (NASDAQ:CERO) shares were also up, gaining 135% to $16.20 after the company received FDA Orphan Drug Designation for CER-1236 for the treatment of acute myeloid leukemia.

Equities Trading DOWN

Stardust Power Inc. (NASDAQ:SDST) shares dropped 56% to $0.1706 after the company announced the pricing of a $4.3 million public offering of 21.5 million shares at $0.20 per share.
Shares of Sunrun Inc. (NASDAQ:RUN) were down 43% to $5.50 after GLJ Research downgraded the stock from Hold to Sell. Keybanc analyst Sophie Karp also downgraded Sunrun from Sector Weight to Underweight.
Solaredge Technologies Inc (NASDAQ:SEDG) was down, falling 39% to $14.62 after GLJ Research downgraded the stock from Hold to Sell. Keybanc analyst Sophie Karp downgraded the stock from Sector Weight to Underweight.

Commodities

In commodity news, oil traded up 2.1% to $73.30 while gold traded down 0.4% at $3,405.00.

Silver traded up 2% to $37.160 on Tuesday, while copper fell 0.7% to $4.8025.

Euro zone

European shares were lower today. The eurozone's STOXX 600 declined 0.8%, while Spain's IBEX 35 Index dipped 1.2%. London's FTSE 100 fell 0.5%, Germany's DAX 40 declined 0.8% and France's CAC 40 fell 0.7% during the session.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei gaining 0.59%, Hong Kong's Hang Seng Index falling 0.34%, China's Shanghai Composite falling 0.04% and India's BSE Sensex falling 0.26%.

Economics

U.S. retail sales fell 0.9% month-over-month in May compared to a revised 0.1% decline in April and versus market estimates of a 0.7% fall.
U.S. import prices came in unchanged from the previous month in May, while export prices declined 0.9% month-over-month in May.
U.S. industrial production declined 0.2% in May, versus market estimates of a 0.1% gain.
The NAHB/Wells Fargo Housing Market Index declined two points to 32 for June, recording the lowest reading since December 2022.
U.S. business inventories came in flat month-over-month in April following a 0.1% gain in the previous month.

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