Dow Jumps 400 Points; US Retail Sales Flat For June

Author: Avi Kapoor | July 16, 2024 10:04am

U.S. stocks traded higher this morning, with the Dow Jones index rising more than 400 points on Tuesday.

Following the market opening Tuesday, the Dow traded up 1% to 40,614.31 while the NASDAQ rose 0.14% to 18,498.00. The S&P 500 also rose, gaining, 0.33% to 5,649.84.

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Leading and Lagging Sectors

Industrials shares jumped by 1.2% on Tuesday.

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

Top Headline

U.S. retail sales came in flat month-over-month for June compared to a revised 0.3% gain in the previous period.

Equities Trading UP

Silo Pharma, Inc. (NASDAQ:SILO) shares shot up 83% to $1.97 after the company obtained an exclusive global license to develop, manufacture, and commercialize its Alzheimer’s drug.
Shares of Yoshitsu Co., Ltd (NASDAQ:TKLF) got a boost, surging 78% to $0.5450 after the company reported a year-over-year increase in FY24 financial results.
Logistic Properties of the Americas (NYSE:LPA) shares were also up, gaining 37% to $21.06.

Equities Trading DOWN

Autonomix Medical, Inc. (NASDAQ:AMIX) shares dropped 22% to $1.08. Autonomix shares jumped 130% on Monday after the company entered into an agreement with RF Innovations to license intellectual property for its Apex 6 Radiofrequency Generator.
Shares of Cyngn Inc. (NASDAQ:CYN) were down 21% to $7.28 after jumping 54% on Monday.
Clearmind Medicine Inc (NASDAQ:CMND) was down, falling 14% to $1.8950. Clearmind Medicine announced the FDA clearance for IND application of MEAI-based CMND-100 oral capsule.

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Commodities

In commodity news, oil traded down 1.6% to $80.61 while gold traded up 0.7% at $2,445.10.

Silver traded up 0.5% to $31.095 on Tuesday, while copper fell 0.6% to $4.5005.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.5, Germany's DAX fell 0.6% and France's CAC 40 fell 0.8%. Spain's IBEX 35 Index fell 0.9%, while London's FTSE 100 fell 0.4%.

The ZEW Indicator of Economic Sentiment for the Eurozone fell by 7.6 points to a reading of 43.7 in July, while Eurozone posted a trade surplus of EUR 13.9 billion in May versus a year-ago gap of EUR 0.4 billion.

The ZEW Indicator of Economic Sentiment for Germany fell to 41.8 in July, recording the first decline in a year. Italy reported a trade surplus of EUR 6.43 billion in May versus a year-ago surplus of EUR 4.767 billion year.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.20%, Hong Kong's Hang Seng Index falling 1.60%, China's Shanghai Composite Index gaining 0.08% and India's S&P BSE Sensex gaining 0.06%.

Economics

U.S. retail sales came in flat month-over-month for June compared to a revised 0.3% gain in the previous period.
Import prices came in unchanged from the prior month in June, while export prices in the U.S. declined 0.5% month-over-month in June.

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