US Stocks Mixed; Oracle Posts Upbeat Results

Author: Avi Kapoor | September 10, 2024 09:51am

U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining around 0.5% on Tuesday.

The Dow traded down 0.13% to 40,774.88 while the NASDAQ rose 0.47% to 16,963.77. The S&P 500 also rose, gaining, 0.37% to 5,491.31.

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Leading and Lagging Sectors

Communication services shares surged by 0.7% on Tuesday.

In trading on Tuesday, energy shares fell by 0.7%.

Top Headline

Oracle Corporation (NYSE:ORCL) reported better-than-expected earnings and sales results for its first quarter on Monday.

Oracle and Amazon.com, Inc.’s (NASDAQ:AMZN) AWS announced the launch of Oracle Database@AWS, a new offering that allows customers to access Oracle Autonomous Database on dedicated infrastructure and Oracle Exadata Database Service within AWS

Equities Trading UP
                       

• BIO-key International, Inc. (NASDAQ:BKYI) shares shot up 119% to $2.2760 after the company announced it was rewarded $500K in new orders from a government defense ministry.
• Shares of SMX (Security Matters) Public Limited Company (NASDAQ:SMX) got a boost, surging 93% to $4.30.
• Quhuo Limited (NASDAQ:QH) shares were also up, gaining 40% to $0.4580.

Equities Trading DOWN

• Edgio, Inc. (NASDAQ:EGIO) shares dropped 26% to $0.8985. Edgio shares tumbled on Monday after the company filed for Chapter 11 relief. The company entered into a stalking horse asset purchase agreement with Lynrock.
• Shares of Crown Electrokinetics Corp. (NASDAQ:CRKN) were down 21% to $1.1699.
• Santech Holdings Limited (NASDAQ:STEC) was down, falling 20% to $0.50.

Commodities

In commodity news, oil traded down 0.9% to $68.10 while gold traded up 0.3% at $2,539.40.

Silver traded up 0.6% to $28.82 on Tuesday, while copper fell 0.4% to $4.1280.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 slipped 0.1%, Germany's DAX declined 0.5% and France's CAC 40 rose 0.2%. Spain's IBEX 35 Index rose 0.2%, while London's FTSE 100 fell 0.4%.

Regular pay in the UK, excluding bonuses, rose 5.1% year-over-year to GBP 647/week in the three months to July, while UK's unemployment rate declined to 4.1% from May to July.

Industrial production in Italy declined by 0.9% month-over-month in July compared to a 0.5% gain in June. Spain’s industrial output declined by 0.4% year-over-year in July. The annual inflation rate in Germany eased to 1.9% in August from 2.3% in the prior month.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan's Nikkei 225 falling 0.16%, Hong Kong's Hang Seng Index gaining 0.22%, China's Shanghai Composite Index gaining 0.28% and India's BSE Sensex gaining 0.44%.

Japan's machine tool orders fell 3.5% year-over-year to JPY 110,771 million for August. China’s trade surplus widened to $91.02 billion in August from $67.81 billion in the year-ago period.

Economics

The NFIB Small Business Optimism Index fell to 91.2 in August, recording the weakest reading in three months, and versus July's reading of 93.7.

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Posted In: AMZN BKYI CRKN EGIO ORCL QH SMX STEC