U.S. stocks traded mostly lower midway through trading, with the Dow Jones falling around 180 points on Tuesday.
The Dow traded down 0.49% to 37,499.41 while the NASDAQ rose 0.07% to 14,853.45. The S&P 500 also fell, dropping, 0.16% to 4,755.70.
Check This Out: How To Earn $500 A Month From Bank of America Stock Ahead Of Q4 Earnings Report
Market Landscape
Information technology shares rose by 0.3% on Tuesday.
In trading on Tuesday, energy shares fell by 1.3%.
Corporate Headline
TD SYNNEX Corporation SNX posted downbeat sales for its fourth quarter on Tuesday.
TD SYNNEX reported a 11.3% Y/Y revenue decline to $14.407 billion for Q4, missing the consensus of $14.476 billion. Adjusted EPS for the quarter stood at $3.13, surpassing the consensus of $2.68.
TD SYNNEX expects Q1 2024 adjusted EPS of $2.60-$3.10 versus the $2.91 estimate. The company projects quarterly revenue of $14 billion-$14.7 billion versus the $14.81 billion estimate.
Movers and Shakers
Cutera, Inc. CUTR shares soared 39% to $4.56 following preliminary FY23 revenue guidance above prior estimates.
Shares of Juniper Networks, Inc. JNPR surged 23% to $37.07. Hewlett Packard Enterprise Co HPE is reportedly in advanced discussions to acquire networking equipment competitor Juniper Networks.
Accolade, Inc. ACCD shares also gained 22% to $14.18 following third-quarter results.
Grifols, S.A. GRFS shares plummeted 23% to $8.60 after a report titled “Grifols SA: Scranton and the Undisclosed Debts.”
Shares of The Container Store Group, Inc. TCS were down 14% to $1.99. The Container Store Group said it sees third-quarter net sales of $214 million versus estimates of $225.38 million.
Neogen Corporation NEOG slid 8% to $18.16 after reporting worse-than-expected second-quarter results and lowered FY24 sales guidance below estimates.
Commodity Overview
In commodity news, oil surged 2.4% to $72.50 while gold advanced 0.1% to reach $2,035.40.
Silver declined 0.5% to $23.185 on Tuesday while copper fell 0.7% to $3.7820.
Euro Zone and Asia-Pacific Markets
European shares were lower today. The eurozone’s STOXX 600 fell 0.19%, London’s FTSE 100 fell 0.13% while Spain’s IBEX 35 Index fell 1.46% The German DAX fell 0.17% French CAC 40 fell 0.32% while Italy’s FTSE MIB Index fell 0.53%.
Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 1.16%, Hong Kong’s Hang Seng Index falling 0.21% and China’s Shanghai Composite Index gaining 0.20%. India’s S&P BSE Sensex, meanwhile, rose 0.04%.
Economic Indicators
The NFIB Small Business Optimism Index rose to 91.9 in December from 90.6 in November.
The US trade gap shrank to $63.2 billion in November from $64.5 billion in the previous month and compared to market estimates of a $65 billion gap.
The RealClearMarkets/TIPP Economic Optimism Index rose to 44.7 in January from 40 in December.
Now Read This: Microsoft, BlackRock, Goldman Sachs And More on CNBC’s ‘Final Trades’
