Nasdaq Surges 1%; TD Synnex Posts Upbeat Earnings

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining over 1% on Tuesday.

Following the market opening Tuesday, the Dow traded up 0.62% to 42,846.32 while the NASDAQ gained 1.03% to 19,832.45. The S&P 500 also rose, gaining, 0.68% to 6,066.06.

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Leading and Lagging Sectors

Information technology shares jumped by 1.2% on Tuesday.

In trading on Tuesday, energy stocks fell by 1.4%.

Top Headline

TD Synnex Corporation SNX reported better-than-expected earnings for the second quarter on Tuesday.

The company posted quarterly earnings of $2.99 per share which beat the analyst consensus estimate of $2.72 per share. The company reported quarterly sales of $14.95 billion which beat the analyst consensus estimate of $14.32 billion.

Equities Trading UP

Nano Labs Ltd NA shares shot up 155% to $27.83 after the company announced a $500 million convertible notes private placement for its BNB treasury strategy.
Shares of Nektar Therapeutics NKTR got a boost, surging 95% to $18.65. The company released statistically significant data from the 16-week induction period of the ongoing Phase 2b REZOLVE-AD study of investigational rezpegaldesleukin.
OneMedNet Corporation ONMD shares were also up, gaining 81% to $0.6162 after the company entered into private placement agreements with accredited investors raising approximately $3.7 million in gross proceeds.

Equities Trading DOWN

Upexi, Inc. UPXI shares dropped 59% to $4.0750.
Shares of Maase Inc. MAAS were down 47% to $5.22.
Houston American Energy Corp. HUSA was down, falling 37% to $11.65 as the company announced a $1.2 million registered direct offering.

Commodities

In commodity news, oil traded down 4% to $65.82 while gold traded down 2.2% at $3,320.70.

Silver traded down 1.5% to $35.630 on Tuesday, while copper rose 0.9% to $4.8940.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 1.2%, while Spain's IBEX 35 Index surged 1.6%. London's FTSE 100 gained 0.4%, Germany's DAX 40 gained 1.8% and France's CAC 40 rose 1.3% during the session.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan's Nikkei gaining 1.14%, Hong Kong's Hang Seng Index gaining 2.06%, China's Shanghai Composite rising 1.15% and India's BSE Sensex rising 0.19%.

Economics

The U.S. current account deficit increased by 44.3% to $450.2 billion in the first quarter versus a revised deficit of $312 billion in the fourth quarter and compared to market estimates of a $443.3 billion gap.
The S&P CoreLogic Case-Shiller Home Price Index increased 3.4% year-over-year in April following a 4.1% gain in the previous month.
The FHFA house price index fell by 0.4% from the previous month in April.

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