U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 100 points on Tuesday.

Following the market opening Tuesday, the Dow traded up 0.18% to 52,590.84 while the NASDAQ rose 0.49% to 25,998.70 The S&P 500 also rose, gaining, 0.26% to 7,534.77.

Leading and Lagging Sectors

Materials shares jumped by 1.5% on Tuesday.

In trading on Tuesday, health care stocks fell by 1.4%.

Top Headline

Bank of America (NYSE:BAC) reported better-than-expected earnings for the second quarter on Tuesday.

The company posted quarterly earnings of $1.21 per share which beat the analyst consensus estimate of $1.13 per share. The company reported quarterly sales of $31.558 billion which beat the analyst consensus estimate of $30.746 billion.

Equities Trading UP
         

• NextCure Inc (NASDAQ:NXTC) shares shot up 266% to $7.96 after the company announced a merger with Avere Therapeutics.
• Shares of Lion Group Holding Ltd – ADR (NASDAQ:LGHL) got a boost, surging 93% to $4.22.
• U-BX Technology Ltd (NASDAQ:UBXG) shares were also up, gaining 48% to $9.30.

Equities Trading DOWN

• Fast Track Entertainment (NASDAQ:FTRK) shares dropped 33% to $0.40.
• Shares of Jet.AI Inc (NASDAQ:JTAI) were down 23% to $4.39. The company announced it entered into a non-binding letter of intent for a proposed business combination with a privately held operating company.
• Matinas BioPharma Holdings Inc (NYSE:MTNB) was down, falling 27% to $0.36. The company recently announced it entered into a definitive purchase agreement to sell Matinas BioPharma Nanotechnologies, Inc., including MAT220 to Azurity Pharmaceuticals.

Commodities

In commodity news, oil traded up 2.2% to $79.84 while gold traded up 0.8% at $4,036.30.

Silver traded up 2.8% to $59.605 on Tuesday, while copper rose 2.1% to $6.4135.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 declined 0.5%, while Spain’s IBEX 35 Index fell 0.8%. London’s FTSE 100 fell 0.4%, Germany’s DAX declined 0.8%, while France’s CAC 40 fell 0.7%.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 0.74%, Hong Kong’s Hang Seng index rising 0.52%, China’s Shanghai Composite surging 1.36% and India’s BSE Sensex falling 0.72%.

Economics

• U.S. consumer prices declined 0.4% month-over-month in June, compared to a 0.5% gain in May and versus market estimates of a 0.1% drop.
• The annual inflation rate eased to 3.5% in June from 4.2% in May and down from expectations of 3.8%.

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