Dow Surges Over 100 Points; Crude Oil Down 2%

U.S. stocks pared some losses midway through trading, with the Dow Jones gaining more than 100 points on Tuesday.

The Dow traded up 0.51% to 29,350.50 while the NASDAQ fell 0.59% to 10,480.20. The S&P 500 also fell, dropping, 0.26% to 3,603.05.

Also check this: Market Volatility Increases After Nasdaq Tumbles Over 100 Points

Leading and Lagging Sectors

Consumer staples shares rose by 1.4% on Tuesday. Leading the sector was strength from e.l.f. Beauty, Inc. ELF and Rite Aid Corporation RAD.

In trading on Tuesday, information technology shares dipped by 1%.

Top Headline


ForgeRock, Inc. FORG announced it will be acquired by Thoma Bravo for $2.3 billion.


Equities Trading UP


  • DICE Therapeutics, Inc. DICE shares shot up 61% to $39.61 after the company announced topline data from its Phase 1 clinical trial of DC-806. Clinical proof-of-concept in psoriasis patients achieved with a mean percentage reduction in PASI from baseline at 4 weeks of 43.7% in the high dose group.
  • Shares of ForgeRock, Inc. FORG got a boost, shooting 49% to $22.62 after the company announced it will be acquired by Thoma Bravo for $2.3 billion.
  • Laser Photonics Corporation LASE shares were also up, gaining 53% to $2.8599 after the company announced it received an order from the U.S. Navy for delivery this month of an LPC-1000CTH CleanTech Laser Blasting System with an integrated water chiller for submarine MRO.

Equities Trading DOWN

  • Orthofix Medical Inc. OFIX shares tumbled 21% to $14.56 after the company and SeaSpine announced they will combine in a merger of equals. The company also announced preliminary Q3 net sales.
  • Shares of Rigel Pharmaceuticals, Inc. RIGL were down 20% to $0.9150. after the company received guidance from the FDA's review of its re-analysis of data from the FORWARD Phase 3 trial of fostamatinib for warm autoimmune hemolytic anemia (wAIHA). Based on the guidance, Rigel does not expect to file a supplemental marketing application for wAIHA, an autoimmune disorder characterized by the premature destruction of healthy red blood cells (hemolysis). Rigel also announced cutting its workforce by 16%, eliminating 30 positions, primarily in development and administration.
  • Quanergy Systems, Inc. QNGY was down, falling 21% to $2.3919. Quanergy Systems, in connection with this restructuring plan, the company will reduce staff by 11%, from 141 to 126 full-time employees. The company also expects to incur severance expenses of about $130,000.

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In commodity news, oil traded down 1.9% to $89.38, while gold traded up 0.2% at $1,678.10.

Silver traded down 1.1% to $19.405 on Tuesday while copper fell 0.2% to $3.4230.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.67%, London’s FTSE 100 fell 0.89% while Spain’s IBEX 35 Index fell 0.84%. The German DAX declined 0.75%, French CAC 40 fell 0.42% and Italy’s FTSE MIB Index fell 0.99%.

The Bank of England widened its emergency bond buying operation to include purchases of inflation-linked gilts. The jobless rate in the UK declined to 3.5% in the three months to August, versus 3.6% in the earlier period, while average weekly earnings including bonuses rose by 6.0% year-over-year to GBP 617 in the same period. Industrial production in Italy surged by 2.3% from a month ago in August.




  • The NFIB Small Business Optimism Index climbed to a four-month high of 92.1 in September from 91.8 in the previous month.
  • The IBD/TIPP Economic Optimism Index declined to 41.6 in October versus a five-month high level of 44.7 in September.
  • The Treasury will auction 3-year notes at 1:00 p.m. ET.

Check out this: Ethereum Falls Below $1,300; Here Are The Top Crypto Movers For Tuesday

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 98,572,010 cases with around 1,087,970 deaths. India confirmed a total of at least 44,616,390 cases and 528,820 deaths, while France reported over 35,875,620 COVID-19 cases with 155,530 deaths. In total, there were at least 627,104,810 cases of COVID-19 worldwide with more than 6,562,340 deaths.

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