Dow Jumps Over 500 Points; Home Depot Earnings Top Views

U.S. stocks traded higher toward the end of trading, with the Dow Jones gaining more than 500 points on Tuesday.

The Dow traded up 1.60% to 34,885.58 while the NASDAQ rose 2.50% to 14,111.61. The S&P 500 also rose, gaining, 2.06% to 4,502.40.

Check This Out: Top 4 Risk Off Stocks You'll Regret Missing In Q4

Leading and Lagging Sectors

Real estate shares surged by 5% on Tuesday.

In trading on Tuesday, energy shares rose by just 0.5%.

Top Headline

Home Depot Inc HD reported better-than-expected third-quarter results.

Home Depot reported a FY23 sales decline of 3% year-on-year to $37.71 billion, beating the analyst consensus estimate of $35.66 billion. EPS of $3.81 beat the analyst consensus of $3.58.

Equities Trading UP

BioCardia, Inc. BCDA shares shot up 168% to $1.0708 after the company announced the FDA approval of its Phase 3 clinical trial of its CardiAMP autologous cell therapy for the treatment of patients with ischemic heart failure.

Shares of INVO Bioscience, Inc. INVO got a boost, shooting 27% to $2.05 after the company posted a narrower loss for the third quarter.

Theseus Pharmaceuticals, Inc. THRX shares were also up, gaining 50% to $3.20 after the company announced process to explore strategic alternatives.

Equities Trading DOWN

The Beauty Health Company SKIN shares dropped 61% to $1.5350 after the company reported weaker-than-expected financial results for its third quarter and revised its net sales outlook. Also, the company suspended its long-term full-year 2025 forecast.

Shares of Kubient, Inc. KBNT were down 50% to $0.1096. Kubient announced voluntary delisting from Nasdaq Capital Market.

Applied UV, Inc. AUVI was down, falling 44% to $0.1507. Applied UV announced pricing of $6.4 million upsized underwritten public offering of 42,666,666 units at $0.15 per unit.

Also Check This Out: Oracle, Qualcomm And 2 Other Stocks Insiders Are Selling

Commodities

In commodity news, oil traded up 0.1% to $78.35 while gold traded up 0.8% at $1,966.30.

Silver traded up 3.5% to $23.14 on Tuesday while copper rose 0.4% to $3.6820.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 gained 1.34%, London’s FTSE 100 rose 0.20% while Spain’s IBEX 35 Index rose 1.71% The German DAX rose 1.76% French CAC 40 rose 1.39%, while Italy’s FTSE MIB Index climbed 1.45%.

The ZEW Indicator of Economic Sentiment for the Eurozone surged to 13.8 in November versus 2.3 in the previous month. The GDP in the Eurozone contracted 0.1% on quarter during the three months to September, while number of employed persons increased by 0.3% to 168.7 million people during the same period.

The ZEW Indicator of Economic Sentiment for Germany climbed by 10.9 points to a reading of +9.8 in November, while Spanish annual consumer price inflation was confirmed at 3.5% for October. The number of job vacancies in the UK fell to 957,000 in August to October. Average weekly earnings, including bonuses in the UK, rose 7.9% year-over-year to GBP 673 per week while unemployment rate came in at 4.2% in the third quarter.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 rising 0.34%, Hong Kong’s Hang Seng Index falling 0.17% and China’s Shanghai Composite Index gaining 0.31%.

Indian wholesale prices fell by 0.52% year-over-year in October versus market expectations of a 0.2% decline.

Economics

The annual inflation rate in the U.S. eased to 3.2% in October versus 3.7% in both September and August, and compared to market estimates of 3.3%.

Now Read This: Monday.Com To Rally Around 20%? Here Are 10 Top Analyst Forecasts For Tuesday