Nasdaq Rises Over 1%; Under Armour Posts Strong Q4 Sales

U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining around 250 points on Tuesday.

The Dow traded down 0.20% to 42,323.48 while the NASDAQ gained 1.34% to 18,958.85. The S&P 500 also rose, gaining, 0.76% to 5,888.84.

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Leading and Lagging Sectors

Information technology shares jumped by 1.6% on Tuesday.

In trading on Tuesday, health care stocks fell by 2%.

Top Headline

Under Armour (NYSE:UAA) reported better-than-expected sales for its fourth quarter on Tuesday.

The company posted quarterly losses of 8 cents per share which met the analyst consensus estimate. The company reported quarterly sales of $1.18 billion which beat the analyst consensus estimate of $1.16 billion.

Equities Trading UP
                       

• HCW Biologics Inc. (NASDAQ:HCWB) shares shot up 159% to $13.72 after the company announced it presented studies on HCW9206.
• Shares of iCoreConnect Inc. (NASDAQ:ICCT) got a boost, surging 174% to $4.00.
• Lobo EV Technologies Ltd. (NASDAQ:LOBO) shares were also up, gaining 124% to $1.6492 after the company issued a year-over-year increase in its FY25 revenue guidance.

Equities Trading DOWN

• Polyrizon Ltd. (NASDAQ:PLRZ) shares dropped 90% to $0.0330. Polyrizon launched preclinical studies for intranasal benzodiazepines targeting $3.15 billion acute seizure market.
• Shares of Affimed N.V. (NASDAQ:AFMD) were down 80% to $0.1401 after Leerink Partners downgraded the stock from Outperform to Market Perform and cut its price target from $5 to $0.39.
• DevvStream Corp. (NASDAQ:DEVS) was down, falling 59% to $0.5308.

Commodities

In commodity news, oil traded up 1.8% to $63.04 while gold traded up 0.3% at $3,238.90.

Silver traded up 0.6% to $32.825 on Tuesday, while copper rose 1.4% to $4.6860.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.1%, while Spain's IBEX 35 Index rose 0.9%. London's FTSE 100 fell 0.1%, Germany's DAX 40 gained 0.2% and France's CAC 40 gained 0.2% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan's Nikkei gaining 1.43%, Hong Kong's Hang Seng Index dipping 1.87%, China's Shanghai Composite Index gaining 0.17% and India's BSE Sensex falling 1.55%.

Economics

The annual inflation rate in the US slowed to 2.3% in April from 2.4% in the previous month and versus market estimates of 2.4%.

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