U.S. stocks traded lower this morning, with the Dow Jones falling more than 70 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.20% to 38,493.85 while the NASDAQ fell 0.22% to 16,790.91. The S&P 500 also fell, dropping, 0.24% to 5,270.55.
Check This Out: Top 3 Financial Stocks You’ll Regret Missing This Quarter
Leading and Lagging Sectors
Real estate shares rose by 0.2% on Tuesday.
In trading on Tuesday, energy shares fell by 1.7%.
Top Headline
Donaldson Company Inc (NYSE:DCI) reported better-than-expected third-quarter earnings and raised its FY24 guidance.
Sales increased 6.0% Y/Y to $927.9 million beating the consensus of $915.8 million, led by higher volume growth and pricing benefits. Adjusted EPS rose 21.7% Y/Y to 92 cents, beating the consensus of 83 cents.
Donaldson raised its FY24 EPS forecast to $3.33-$3.39 (vs. consensus of $3.27) from $3.24-$3.32. The company now anticipates sales growth of 4%-6% Y/Y (vs. 3%-7% earlier).
Equities Trading UP
- MicroAlgo Inc (NASDAQ:MLGO) shares shot up 284% to $5.99 after the company announced that it will jointly establish a micro-consciousness quantum research center with WiMi.
- Shares of Sobr Safe Inc (NASDAQ:SOBR) got a boost, surging 101% to $0.53 after the company announced SOBRsure device purchases from two new customers.
- WiMi Hologram Cloud Inc – ADR (NASDAQ:WIMI) shares were also up, gaining 34% to $1.16 after the company announced that the company and MicroAlgo will jointly establish a micro-consciousness quantum research center.
Equities Trading DOWN
- ENDRA Life Sciences Inc (NASDAQ:NDRA) shares dropped 65% to $0.076 after the company announced pricing of $8.0 million public offering.
- Shares of Avalon Globocare Corp (NASDAQ:ALBT) were down 26% to $0.91 after surging 317% on Monday.
- Equillium Inc (NASDAQ:EQ) was down, falling 20% to $1.18 after the company announced topline data from its Phase 2 study of EQ101 in alopecia areata.
Also Check This Out: Wall Street’s Most Accurate Analysts’ Views On 3 Utilities Stocks With Over 4% Dividend Yields
Commodities
In commodity news, oil traded down 1.8% to $72.91 while gold traded down 1% at $2,346.60.
Silver traded down 3.1% to $29.84 on Tuesday, while copper fell 2.2% to $4.5660.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.6%, Germany’s DAX dipped 1% and France’s CAC 40 fell 0.8%. Spain’s IBEX 35 Index declined 1.2%, while London’s FTSE 100 fell 0.5%.
German jobless rate came in unchanged at 5.9% for the sixth straight month in May. Retail sales in the UK gained 0.4% from a year ago in May following a 4.4% decline in the prior month.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan’s Nikkei falling 0.22%, China’s Composite Index gaining 0.14%, Hong Kong’s Hang Seng Index climbing 0.22% and India’s S&P BSE Sensex dipping 5.74%.
Australia reported a current account deficit of AUD 4.9 billion in the first quarter, versus a revised surplus of AUD 2.7 billion in the fourth quarter. Retail sales in Australia increased by 0.1% month-over-month in April compared to a 0.4% decline in the previous period.
Economics
The Logistics Manager’s Index rose to 55.6 in May from a reading of 52.9 in April.
Now Read This: Nvidia To Rally Around 11%? Here Are 10 Top Analyst Forecasts For Tuesday
