The U.S. stock market saw mixed trading on Tuesday, with the Dow Jones Industrial Average gaining over 200 points. The Dow traded up 0.54% to 39,001.22, while the NASDAQ fell 0.34% to 16,048.51. The S&P 500 also rose, gaining 0.02% to 5,150.45.
In sector performance, energy shares rose by 0.7% on Tuesday, while communication services shares fell by 1%.
Shares of Core & Main, Inc. (CNM) gained around 7% after the company reported fourth-quarter results. Core & Main posted quarterly earnings of 34 cents per share, slightly missing analysts’ estimates. The company’s quarterly sales came in slightly higher than expected. Core & Main also provided guidance for 2024 net sales and adjusted EBITDA.
In equities trading, Ontrak, Inc. (OTRK) shares surged 132%, Fusion Pharmaceuticals Inc. (FUSN) saw a 97% increase, and Spire Global, Inc. (SPIR) gained 28% after announcing a collaboration with NVIDIA.
On the downside, Greenwave Technology Solutions, Inc. (GWAV) shares dropped 57%, Seelos Therapeutics, Inc. (SEEL) fell 41%, and Comtech Telecommunications Corp. (CMTL) was down 27% following weak quarterly results.
In commodities news, oil traded up 0.4% to $83.03, while gold traded down 0.5% at $2,153.70. Silver and copper also saw declines.
In global markets, European shares were mostly higher, with the Eurozone’s STOXX 600 falling slightly and major indices in the UK, Spain, Germany, France, and Italy seeing gains. Economic sentiment indicators for the Eurozone and Germany showed positive trends.
Asian markets closed mostly lower, with Japan’s Nikkei 225 gaining, Hong Kong’s Hang Seng Index falling, China’s Shanghai Composite Index dipping, and India’s S&P BSE Sensex also seeing a decline.
In economic news, housing starts in the U.S. surged in February, while building permits also rose. Overall, it was a mixed day in the markets with a variety of factors influencing trading activity.
