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Market Overview

Mid-Afternoon Market Update: Crude Oil Down 1.5%; Reata Pharmaceuticals Shares Spike Higher


Toward the end of trading Tuesday, the Dow traded up 1.02% to 27061.58 while the NASDAQ rose 1.32% to 8154.54. The S&P also rose, gaining 1.13% to 2,999.59.

Leading and Lagging Sectors

Health Care shares climbed 1.9% on Tuesday. Meanwhile, top gainers in the sector included Relmada Therapeutics, Inc. (NASDAQ: RLMD), up 136%, and Reata Pharmaceuticals, Inc. (NASDAQ: RETA), up 57%.

In trading on Tuesday, consumer staples shares fell 0.4%.

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 71% to $5.05 after the company reported receipt of first shipment of graphite concentrate.

Shares of Relmada Therapeutics, Inc. (NASDAQ: RLMD) surged 136% to $26.40 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 57% to $157.76 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 52% to $9.43.

Shares of NF Energy Saving Corporation (NASDAQ: BIMI) were down 36% to $5.78 after surging 516.44% on Monday.

Yuma Energy, Inc. (NYSE: YUMA) was down, falling 20% to $3.64.


In commodity news, oil traded down 1.5% to $52.81, while gold traded down 0.8% to $1,485.30.

Silver traded down 1.5% Tuesday to $17.44, while copper fell 0.9% to $2.61.

Euro zone

European shares closed mostly higher today. The eurozone’s STOXX 600 rose 1.11%, the Spanish Ibex Index rose 1.19%, while Italy’s FTSE MIB Index climbed 1.21%. Meanwhile, the German DAX gained 1.15%, and the French CAC 40 rose 1.05% while UK shares fell 0.03%


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


Related Articles (JPM + BIMI)

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

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