Market Overview

Mid-Day Market Update: NASDAQ Rises Over 1%; Relmada Therapeutics Shares Jump

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Midway through trading Tuesday, the Dow traded up 0.91% to 27031.23 while the NASDAQ rose 1.07% to 8,134.62. The S&P also rose, gaining 1.01% to 2,996.05.

Leading and Lagging Sectors

Health Care shares climbed 2% on Tuesday. Meanwhile, top gainers in the sector included Relmada Therapeutics, Inc. (NASDAQ: RLMD), up 130%, and Reata Pharmaceuticals, Inc. (NASDAQ: RETA), up 52%.

In trading on Tuesday, consumer staples shares fell 0.3%.

Top Headline

JPMorgan Chase & Co. (NYSE: JPM) reported upbeat earnings for its third quarter.

JPMorgan reported Q3 earnings of $2.68 per share, beating estimates of $2.45 per share. The company reported sales of $29.3 billion, versus expectations of $28.49 billion.

Equities Trading UP

Westwater Resources, Inc. (NASDAQ: WWR) shares shot up 82% to $5.40 after receiving first shipment of graphite concentrate.

Shares of Relmada Therapeutics, Inc. (NASDAQ: RLMD) surged 130% to $25.65 following a positive clinical readout from the company. New York-based Relmada released top-line data from a Phase 2 study that evaluated its REL-1017-202, chemically dextromethadone, in 25mg once a day and 50mg daily doses as an adjunctive treatment in patients with treatment-resistant depression, or TRD.

Reata Pharmaceuticals, Inc. (NASDAQ: RETA) was up, rising 52% to $153.13 after the company announced the results from the moxie registrational trial of omaveloxolone in patient's with friedreich's ataxia met the primary endpoint.

Equities Trading DOWN

Synthesis Energy Systems, Inc. (NASDAQ: SES) shares tumbled 47% to $10.43.

Shares of NF Energy Saving Corporation (NASDAQ: BIMI) were down 30% to $6.30 after surging 516.44% on Monday.

Yuma Energy, Inc. (NYSE: YUMA) was down, falling 23% to $3.51.

Commodities

In commodity news, oil traded down 0.2% to $53.49, while gold traded down 0.9% to $1,483.80.

Silver traded down 1.6% Tuesday to $17.425, while copper fell 0.7% to $2.616.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 1.37%, the Spanish Ibex Index rose 1.3%, while Italy’s FTSE MIB Index climbed 1.32%. Meanwhile, the German DAX gained 1.47%, and the French CAC 40 rose 1.42% while UK shares rose 0.04%

Economics

Kansas City Federal Reserve Bank President Esther George is set to speak in Chicago, Illinois at 12:45 p.m. ET.

San Francisco Federal Reserve Bank President Mary Daly will speak in Los Angeles, California at 3:30 p.m. ET.

Posted-In: Mid-Day Market UpdateEarnings News Eurozone Commodities Global Intraday Update Markets

 

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