U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 200 points on Tuesday.

The Dow traded up 0.73% to 33,959.64 while the NASDAQ rose 1.75% to 13,569.42. The S&P 500, also rose, gaining, 1.22% to 4,381.53.

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Leading and Lagging Sectors

• Information technology shares jumped by 2.1% on Tuesday.
• In trading on Tuesday, health care shares fell by 0.2%.

Top Headline

TD Synnex Corp (NYSE:SNX) reported worse-than-expected second-quarter financial results and issued third-quarter guidance below estimates.

TD Synnex reported a second-quarter FY23 revenue decline of 7.9% Y/Y to $14.06 billion, missing the consensus of $14.42 billion. Adjusted EPS of $2.43, missing the consensus of $2.55.

The company expects third-quarter revenue of $13.5 billion-$14.5 billion (vs. below the consensus of $14.96 billion), adjusted EPS of $2.20-$2.70 (vs. below the Street view of $2.76), and adjusted gross billings in the range of $18.0 billion-$19.3 billion.

Equities Trading UP

Equities Trading DOWN

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Commodities

In commodity news, oil traded down 2.5% to $67.62 while gold traded down 0.5% at $1,923.30.

Silver traded up 0.3% to $22.89 on Tuesday while copper fell 0.3% to $3.7930.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 rose 0.05%, London’s FTSE 100 rose 0.11% while Spain’s IBEX 35 Index rose 1.28% The German DAX gained 0.21% French CAC 40 rose 0.43% and Italy’s FTSE MIB Index rose 0.58%.

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

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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.