Dow Gains 50 Points; US Small Business Optimism Index Rises In May

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 50 points n Tuesday.

The Dow traded up 0.13% to 42,817.81 while the NASDAQ gained 0.22% to 19,634.48. The S&P 500 also rose, gaining, 0.29% to 6,023.46.

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Leading and Lagging Sectors

Energy shares jumped by 1.9% on Tuesday.

In trading on Tuesday, industrials stocks fell by 0.4%.

Top Headline

The NFIB Small Business Optimism Index rose to 98.8 in May from 95.8 in April and topping market estimates of 95.9.

Equities Trading UP
           

• Insmed Incorporated (NASDAQ:INSM) shares shot up 27% to $89.94 after the company announced topline results from its randomized, double-blind, placebo-controlled Phase 2b study evaluating the efficacy and safety of treprostinil palmitil inhalation powder met its primary endpoint and all secondary efficacy endpoints.
• Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) got a boost, surging 15% to $506.20 after the company reported better-than-expected fourth-quarter financial results and increased its quarterly dividend.
• Evogene Ltd. (NASDAQ:EVGN) shares were also up, gaining 72% to $1.9399. Evogene announced completion of first-in-class foundation model for generative molecule design, developed in collaboration with Google Cloud.

Equities Trading DOWN

• Liquidia Corporation (NASDAQ:LQDA) shares dropped 21% to $14.23 in reaction to Insmed’s drug to treat rare lung disease met its primary endpoint and all secondary efficacy endpoints.
• Shares of Calavo Growers, Inc. (NASDAQ:CVGW) were down 17% to $22.93 after the company reported worse-than-expected second-quarter financial results.
• United Therapeutics Corporation (NASDAQ:UTHR) was down, falling 16% to $276.38 in reaction to Insmed after its drug to treat rare lung disease met its primary endpoint and all secondary efficacy endpoints.

Commodities

In commodity news, oil traded down 0.2% to $65.14 while gold traded down 0.3% at $3,344.80.

Silver traded down 0.6% to $36.570 on Tuesday, while copper fell 0.5% to $4.8990.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.09%, while Spain's IBEX 35 Index rose 0.19%. London's FTSE 100 gained 0.45%, Germany's DAX 40 fell 0.35% and France's CAC 40 rose 0.09% during the session.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei gaining 0.32%, Hong Kong's Hang Seng Index falling 0.08%, China's Shanghai Composite dipping 0.44% and India's BSE Sensex falling 0.07%.

Economics

The NFIB Small Business Optimism Index rose to 98.8 in May from 95.8 in April and topping market estimates of 95.9.

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