S&P 500 Edges Higher; Indivior Shares Plummet

Author: Avi Kapoor | July 09, 2024 02:38pm

U.S. stocks traded mixed toward the end of trading, with the S&P 500 gaining around 0.1% on Tuesday.

The Dow traded down 0.05% to 39,323.7 while the NASDAQ rose 0.10% to 18,422.24. The S&P 500 also rose, gaining, 0.12% to 5,579.76.

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Leading and Lagging Sectors

Financials shares jumped by 1.1% on Tuesday.

In trading on Tuesday, materials shares fell by 0.6%.

Top Headline

Helen of Troy Limited (NASDAQ:HELE) reported soft first-quarter earnings and lowered its FY25 guidance.

Equities Trading UP

Soligenix, Inc. (NASDAQ:SNGX) shares shot up 379% to $9.59 after the company announced interim results for extended HyBryte treatment in early-stage CTCL patients.
Shares of Pineapple Energy Inc. (NASDAQ:PEGY) got a boost, surging 65% to $1.98 after the company engaged Conduit Capital to provide structural internal support, staffing, and assistance with capital-raising activities.
uniQure N.V. (NASDAQ:QURE) shares were also up, gaining 63% to $6.16 after the company announced updated interim data including up to 24 months of follow-up data from 29 treated patients enrolled in the ongoing U.S. and European Phase I/II clinical trials of AMT-130 for the treatment of Huntington’s disease.

Equities Trading DOWN

Indivior PLC (NASDAQ:INDV) shares dropped 33% to $10.28 after the company lowered its FY24 guidance.
Shares of Helen of Troy Limited (NASDAQ:HELE) were down 27% to $64.70 after the company reported soft first-quarter earnings and lowered its FY25 guidance.
Clene Inc. (NASDAQ:CLNN) was down, falling 17% to $0.2888. Clene announced a 1-for-20 reverse stock split effective July 11, 2024.

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Commodities

In commodity news, oil traded down 0.4% to $81.98 while gold traded up 0.2% at $2,368.00.

Silver traded up 0.4% to $31.04 on Tuesday, while copper fell 0.7% to $4.5840.

Euro zone

European shares closed lower today. The eurozone's STOXX 600 fell 0.90%, Germany's DAX fell 1.28% and France's CAC 40 fell 1.56%. Spain's IBEX 35 Index declined 1.12%, while London's FTSE 100 fell 0.66%.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan's Nikkei gaining 1.96%, Hong Kong's Hang Seng Index declining 0.01%, China's Shanghai Composite Index climbing 1.26% and India's S&P BSE Sensex gaining 0.49%.

Japanese machine tool orders climbed by 9.7% year-over-year to JPY 133,817 million in June compared to a 4.2% rise in the prior month.

Economics

The NFIB Small Business Optimism Index increased to 91.5 in June from 90.5 in May, recording the strongest reading since the start of the year.

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