Nasdaq Rises Over 100 Points; 3M Earnings Top Views

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 100 points on Tuesday.

The Dow traded up 1.21% to 52,593.36 while the NASDAQ gained 0.38% to 26,532.19. The S&P 500 also rose, gaining, 0.54% to 7,731.90.

Leading and Lagging Sectors

Health care shares jumped by 2.1% on Tuesday.

In trading on Tuesday, energy stocks fell by 1.1%.

Top Headline

3M Co (NYSE:MMM) reported better-than-expected third-quarter adjusted EPS results and raised its FY26 adjusted EPS guidance above estimates.

Adjusted earnings per share rose 12% year over year to $2.50, beating analysts’ estimate of $2.39. Adjusted sales increased 4.2% to $6.6 billion, slightly below the $6.61 billion consensus estimate

Equities Trading UP
           

• Myriad Genetics Inc (NASDAQ:MYGN) shares shot up 33% to $5.60 after the company announced it will sell its Prenatal Health testing business to Labcorp.
• Shares of Braze Inc (NASDAQ:BRZE) got a boost, surging 51% to $45.29 after the announcement that company will be acquired by Salesforce.
• Hertz Global Holdings Inc (NASDAQ:HTZ) shares were also up, gaining 12% to $2.07 after the company announced that Oro Mobility secured an $80 million strategic equity investment from a consortium of investors.

Equities Trading DOWN

• Mueller Industries Inc (NYSE:MLI) shares dipped 8% to $56.24 after the company reported mixed third-quarter financial results.
• Shares of Home Bancorp Inc (NASDAQ:HBCP) were down 5% to $62.25 after the company announced downbeat quarterly results.
• General Motors Co (NYSE:GM) was down, falling 5% to $78.32 after the company reported third-quarter financial results and narrowed its FY26 EPS guidance.

Commodities 

In commodity news, oil traded up 0.6% to $104.25 while gold traded down 0.1% at $4,157.50.

Silver traded up 1.3% to $58.02 on Tuesday, while copper rose 0.5% to $6.6100.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.2%, while Spain’s IBEX 35 Index rose 0.3%, London’s FTSE 100 fell 0.5%, Germany’s DAX fell 0.3%, while France’s CAC 40 declined 0.5%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 falling 1.30%, Hong Kong’s Hang Seng index falling 1.32% and China’s SSE Composite Index gaining 0.12%.

Economics

• U.S. housing starts dipped 5.2% month-over-month to an annual rate of 1.221 million in September.
• Building Permits fell 0.2% month-over-month to 1.400 million units in September, above market estimates of 1.390 million.
• U.S. pending home sales declined by 7.3% from the previous month in September, versus market estimates of a 0.5% decrease.

Photo via Shutterstock