Nasdaq Turns Lower; Kezar Life Sciences Shares Jump

U.S. stocks pared gains midway through trading, with the Nasdaq Composite and S&P 500 turning lower on Tuesday.

The Dow traded up 0.16% to 31,490.02 while the NASDAQ fell 0.72% to 11,441.85. The S&P also fell, dropping, 0.12% to 3,895.32.

Also check this: U.S. Consumer Confidence And Other Macro Issues For Tuesday

Leading and Lagging Sectors

Energy shares jumped by 2.9% on Tuesday. Meanwhile, top gainers in the sector included Earthstone Energy, Inc. ESTE, up 9% and North European Oil Royalty Trust NRT up 7%.

In trading on Tuesday, consumer discretionary shares fell by 0.9%.

Top Headline

U.S. goods gap shrank to $104.3 billion in May versus a revised $106.7 billion in April, recording the lowest trade gap so far this year. Exports rose 1.2% to a record high, with imports declining 0.1%.

Equities Trading UP

Kezar Life Sciences, Inc. KZR shares shot up 72% to $9.92 after the company announced topline results from the MISSION Phase 2 clinical trial evaluating zetomipzomib.

Shares of Tuniu Corporation TOUR got a boost, shooting 46% to $0.7587 following reports suggesting China will ease some COVID quarantine requirements for international travelers.

Ceragon Networks Ltd. CRNT shares were also up, gaining 23% to $2.5650 after Aviat Networks, Inc. proposed to acquire the company for $2.80 per share in cash.

Equities Trading DOWN

Enerpac Tool Group Corp. EPAC shares tumbled 6% to $18.57 following downbeat Q3 results.

Shares of Cognyte Software Ltd. CGNT were down 26% to $4.72 after the company reported worse-than-expected Q1 results.

IT Tech Packaging, Inc. ITP was down, falling 17% to $0.1230. IT Tech Packaging reported a 1-for-10 reverse stock split, effective July 7.

Also check out: TD SYNNEX, Ceragon + 3 Stocks To Watch Heading Into Tuesday


In commodity news, oil traded up 0.3% to $109.86, while gold traded down 0.1% to $1,822.90.

Silver traded down 0.9% to $20.97 on Tuesday while copper rose 0.4% to $3.7755.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.61%, London’s FTSE 100 rose 1.25% while Spain’s IBEX 35 Index rose 1%. The German DAX gained 0.77%, French CAC 40 rose 1.1% and Italy’s FTSE MIB Index climbed 1.23%.

The consumer confidence index in France dropped for a sixth straight month to 82 in June, recording the lowest level since July 2013, while GfK Consumer Climate Indicator in Germany fell to a new record low of -27.4 for July from revised reading of -26.2 in June. Italy’s industrial sales rose by 2.7% over a month during April.


U.S. goods gap shrank to $104.3 billion in May versus a revised $106.7 billion in April, recording the lowest trade gap so far this year. Exports rose 1.2% to a record high, with imports declining 0.1%.

Wholesale inventories in the US increased 2% month-over-month to $880.6 billion in May versus a revised 2.3% rise in the previous month.

The S&P CoreLogic Case-Shiller home price index ROSE 21.2% year-over-year in April.

The FHFA house price index rose 1.6% from a month ago in April.

The Conference Board’s consumer confidence index fell to 98.7 for June from 103.2.

The Richmond Fed composite manufacturing index declined to -19 in June from -9 in May.

The Treasury is set to auction 7-year notes at 1:00 p.m. ET.

Data on money supply for May will be released at 1:00 p.m. ET.

Check out this: This Healthcare Stock Jumps Around 188%, Here's 83 Biggest Movers From Yesterday

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 88,910,140 cases with around 1,041,020 deaths. India confirmed a total of at least 43,420,600 cases and 525,040 deaths, while Brazil reported over 32,136,910 COVID-19 cases with 670,600 deaths. In total, there were at least 549,898,720 cases of COVID-19 worldwide with more than 6,352,400 deaths.

Posted In: Mid-Day Market UpdateEarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.