Dow Jumps Over 700 Points; Pfizer Posts Upbeat Q2 Earnings

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 700 points on Tuesday.

Following the market opening Tuesday, the Dow traded up 1.35% to 53,895.93 while the NASDAQ rose 1.09% to 26,196.71. The S&P 500 also rose, gaining, 0.57% to 7,643.66.

Leading and Lagging Sectors

Information technology shares jumped by 2.4% on Tuesday.

In trading on Tuesday, energy stocks fell by 2.5%.

Top Headline

Pfizer Inc (NYSE:PFE) reported better-than-expected earnings for the second quarter on Tuesday.

The company posted quarterly earnings of 77 cents per share which beat the analyst consensus estimate of 69 cents per share. The company reported quarterly sales of $15.034 billion which beat the analyst consensus estimate of $14.412 billion.

Equities Trading UP
           

• TNL Mediagene (NASDAQ:TNMG) shares shot up 142% to $0.86 after the company announced its wholly owned subsidiary, Infobahn, entered into a partnership with Miro.
• Shares of Autonomix Medical Inc (NASDAQ:AMIX) got a boost, surging 73% to $6.30. Autonomix Medical was granted U.S. patent titled ‘Systems And Methods For Treating Cancer And/Or Augmenting Organ Function’.
• Corvex Inc (NASDAQ:MOVE) shares were also up, gaining 53% to $16.46 after the company announced it has signed a multi-year agreement to provide clusters of NVIDIA Blackwell GPUs connected with NVIDIA Quantum-2 InfiniBand networking to a leading AI company.

Equities Trading DOWN

• Reitar Logtech Holdings Ltd (NASDAQ:RITR) shares dropped 48% to $0.18.
• Shares of Next Technology Holding Inc (NASDAQ:NXTT) were down 43% to $0.25.
• SU Group Holdings Ltd (NASDAQ:SUGP) was down, falling 30% to $0.34 after the company announced a 1-for-5 reverse stock split.

Commodities

In commodity news, oil traded down 4.2% to $76.99 while gold traded up 0.8% at $4,122.50.

Silver traded up 3.4% to $59.835 on Tuesday, while copper rose 1.6% to $6.6450.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.7%, while Spain’s IBEX 35 Index rose 0.2% London’s FTSE 100 gained 0.4%, Germany’s DAX gained 0.7%, while France’s CAC 40 gained 0.3%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 gaining 0.32%, Hong Kong’s Hang Seng index falling 0.60%, China’s Shanghai Composite rising 0.33% and India’s BSE Sensex falling 0.27%.

Economics

• The U.S. trade deficit shrank to $73.3 billion in June from $77.6 billion in the previous month.
• U.S. imports declined by 1.8% from the previous month to $388 billion in June, while exports dropped 0.9% to a four-month low level of $314.7 billion in June.

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