Crude Oil Surges Over 1%; US Factory Orders Increase In February

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 1% on Tuesday.

The Dow traded down 1.05% to 39,152.47 while the NASDAQ fell 1.17% to 16,205.37. The S&P 500 also fell, dropping, 0.89% to 5,196.96.

Check This Out: Wynn Resorts, Hilton Worldwide And An Energy Stock On CNBC's 'Final Trades'


Leading and Lagging Sectors


Energy shares jumped by 0.6% on Tuesday.

In trading on Tuesday, health care shares fell by 1.7%.


Top Headline


U.S. factory orders increased by 1.4% from the prior month to $576.8 billion in February, following a revised 3.8% decline in January.


Equities Trading UP


VivoPower International PLC VVPR shares shot up 266% to $5.35 after the company's Tembo subsidiary announced it will merge with the Nasdaq-listed Cactus Acquisition Corp. 1 Limited.

Shares of VirTra, Inc. VTSI got a boost, surging 41% to $13.43 after the company reported better-than-expected fourth-quarter results.

MSP Recovery, Inc. LIFW shares were also up, gaining 28% to $0.8520 after a 13G filing showed Palantir Technologies reported a 6.5% stake in the company as of March 22, 2024.


Equities Trading DOWN


Acorda Therapeutics, Inc. ACOR shares dropped 76% to $3.1801 after the company commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code.

Shares of Gritstone bio, Inc. GRTS were down 48% to $1.2150 after the company announced a $32.5 million underwritten public offering of 8,333,333 shares of common stock and accompanying common warrants at $1.50 per share and accompanying common warrant.

Verve Therapeutics, Inc. VERV was down, falling 37% to $8.04 amid the company pausing enrollment in its Heart-1 Phase 1b clinical trial after a participant experienced a Grade 3 drug-induced transient increase in serum alanine aminotransferase as well as a serious adverse event.

Also Check This Out: Bitcoin Falls Below $66,000; Axelar Becomes Top Loser




In commodity news, oil traded up 1.6% to $85.08 while gold traded up 0.8% at $2,274.30.

Silver traded up 3.1% to $25.855 on Tuesday, while copper rose 0.5% to $4.0695.


Euro zone


European shares were lower today. The eurozone’s STOXX 600 fell 0.75%, London’s FTSE 100 fell 0.14% while Spain’s IBEX 35 Index fell 0.96% The German DAX fell 1.04% French CAC 40 fell 0.91% while Italy’s FTSE MIB Index fell 1.15%.

The HCOB manufacturing PMI for Eurozone rose to 46.1 in March versus a preliminary reading of 45.7. Median consumer expectations for Eurozone inflation over the next 12 months eased to 3.1% in February. The HCOB Germany manufacturing PMI was revised higher to 41.9 in March versus a preliminary level of 41.6, while French manufacturing PMI declined to 46.2 in March versus 47.1 a month ago.

The S&P Global UK Manufacturing PMI rose to 50.3 in March versus a preliminary reading of 49.9, while consumer credit in the UK rose by £1.378 billion in February. The Nationwide House Price Index in the UK increased by 1.6% year-over-year in March following a 1.2% gain in February.


Asia Pacific Markets


Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 gaining 0.09%, Hong Kong’s Hang Seng Index gaining 2.36%, China’s Shanghai Composite Index falling 0.08% and India’s S&P BSE Sensex falling 0.2%.

The HSBC Indian manufacturing PMI was revised lower to 59.1 in March compared to a preliminary reading of 59.2.




U.S. factory orders increased by 1.4% from the prior month to $576.8 billion in February, following a revised 3.8% decline in January.

The number of job openings rose by 8,000 from the prior month to 8.756 million in February compared to market estimates of 8.75 million.

Now Read This: Insiders Buying Westlake Chemical Partners And 2 Other Stocks

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsTrading IdeasMid Day Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!