U.S. stocks traded higher this morning, with the Nasdaq Composite gaining around 75 points on Tuesday.

Following the market opening Tuesday, the Dow traded up 0.19% to 33,780.40 while the NASDAQ rose 0.57% to 13,411.68. The S&P 500, also rose, gaining, 0.37% to 4,344.96.

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Leading and Lagging Sectors

• Consumer discretionary shares jumped by 0.9% on Tuesday.
• In trading on Tuesday, communication services shares fell by 0.3%.

Top Headline

U.S. durable goods orders rose 1.7% month-over-month in May versus a revised 1.2% growth in April and easily topping market estimates of a 1% drop.

Equities Trading UP

• American Equity Investment Life Holding Company (NYSE:AEL) shares shot up 17% to $52.61 after the company announced it has received a $55 per share acquisition proposal from Brookfield Reinsurance.
• Shares of Cara Therapeutics, Inc. (NASDAQ:CARA) got a boost, shooting 15% to $3.72. Cara Therapeutics was granted U.S. Patent #11684674: Oral formulations of kappa opioid receptor agonists.
• Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares were also up, gaining 12% to $6.22.

Equities Trading DOWN

• Lordstown Motors Corp. (NASDAQ:RIDE) shares dropped 47% to $1.4650 after the company opted to file for Chapter 11 bankruptcy protection.
• Shares of Adicet Bio, Inc. (NASDAQ:ACET) were down 32% to $3.15 after the company shared safety and efficacy data from its Phase 1 study of ADI-001 for relapsed or refractory aggressive B-cell non-Hodgkin's lymphoma (NHL). JMP Securities downgraded Adicet Bio to Market Perform from Market Outperform rating.
• Xponential Fitness, Inc. (NYSE:XPOF) was down, falling 27% to $18.41. Fuzzy Panda Research issued a short report titled 'Xponential Fitness (XPOF) – "Abusive Franchisor That Is A House Of Cards."'

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Commodities

In commodity news, oil traded down 2% to $67.97 while gold traded down 0.1% at $1,932.20.

Silver traded up 0.4% to $22.915 on Tuesday while copper fell 0.5% to $3.7660.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.4%, London’s FTSE 100 fell 0.3% while Spain’s IBEX 35 Index rose 0.3% The German DAX dropped 0.2% French CAC 40 fell 0.2% and Italy’s FTSE MIB Index fell 0.1%.

The manufacturing confidence index in Italy fell to 100.3 in June from 101.2 in the prior month, while consumer confidence climbed to 108.6 from 105.1.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 dropping 0.49%, Hong Kong’s Hang Seng Index jumping 1.88%, China’s Shanghai Composite Index climbing 1.23%. India’s S&P BSE Sensex jumped 0.71%.

India reported a current account deficit of $1.3 billion during the first three months of the year, compared to market estimates of a $3.3 billion surplus. Hong Kong's trade deficit narrowed to $26.4 billion in May from $36.7 billion in the year-ago month.

Economics

• Building permits in the U.S. rose by 5.6% to an annual rate of 1.496 million in May.
• The FHFA house prices index rose by 0.7% versus the previous month in April.
• The S&P CoreLogic Case-Shiller 20-city home price index dropped 1.7% year-over-year in April, recording the biggest drop since April 2012.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,283,940 cases with around 1,167,830 deaths. India confirmed a total of at least 44,993,990 cases and 531,900 deaths, while France reported over 40,133,520 COVID-19 cases with 167,610 deaths. In total, there were at least 690,857,970 cases of COVID-19 worldwide with more than 6,894,560 deaths.