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

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. RLMD, up 130%, and Reata Pharmaceuticals, Inc. RETA, up 52%.

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

Top Headline

JPMorgan Chase & Co. 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. WWR shares shot up 82% to $5.40 after receiving first shipment of graphite concentrate.

Shares of Relmada Therapeutics, Inc. 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. 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. SES shares tumbled 47% to $10.43.

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

Yuma Energy, Inc. 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.

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Posted In: EarningsNewsEurozoneCommoditiesGlobalIntraday UpdateMarketsMid-Day Market Update
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