Nasdaq Surges Over 1%; DocuSign Shares Spike Higher

Author: Avi Kapoor | October 08, 2024 02:30pm

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining over 1% on Tuesday.

The Dow traded up 0.20% to 42,038.02 while the NASDAQ rose 1.15% to 18,130.89. The S&P 500 also rose, gaining, 0.77% to 5,739.69.

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Leading and Lagging Sectors

Information technology shares jumped by 1.6% on Tuesday.

In trading on Tuesday, energy shares dipped by 2.4%.

Top Headline

The trade deficit in the U.S. shrank to $70.4 billion in August, recording the lowest level in five months, compared to a revised $78.9 billion gap in July and versus market estimates of a $70.6 billion shortfall.

Equities Trading UP

Alternus Clean Energy Inc (NASDAQ:ALCE) shares shot up 13% to $0.1690. Alternus shed $100 million of debt and payables, improved shareholder equity position by Circa $45 million from disposal of certain subsidiaries.
Shares of Bio-Path Holdings, Inc. (NASDAQ:BPTH) got a boost, surging 18% to $1.0199. The company initiated a therapeutic program to develop BP1001-A for treating obesity and related metabolic diseases. This program marks the first application of DNAbilize technology to develop a non-cancer application.
DocuSign, Inc. (NASDAQ:DOCU) shares were also up, gaining 8% to $67.94 after it was announced the company will join the S&P MidCap 400.

Equities Trading DOWN

ZJK Industrial Co., Ltd. (NASDAQ:ZJK) shares dropped 27% to $4.97 after gaining 35% on Monday.
Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) were down 19% to $26.54.
Lufax Holding Ltd (NYSE:LU) was down, falling 15% to $3.39. Shares of US-listed Chinese stocks traded lower after Chinese planning officials reportedly fell short of investor stimulus expectations.

Commodities

In commodity news, oil traded down 3.8% to $74.20 while gold traded down 1.2% at $2,634.70.

Silver traded down 4.4% to $30.610 on Tuesday, while copper fell 2.4% to $4.4560.

Euro zone

European shares closed mostly lower today. The eurozone's STOXX 600 fell 0.55%, Germany's DAX fell 0.20% and France's CAC 40 fell 0.72%. Spain's IBEX 35 Index rose 0.15%, while London's FTSE 100 fell 1.36%.

France's trade deficit increased to €7.4 billion in August versus a revised €6.0 billion gap in the previous month. Germany's industrial production rose by 2.9% month-over-month in August, compared to a revised 2.9% fall in the previous month,

Asia Pacific Markets

Asian markets closed mostly lower on Tuesday, with Japan's Nikkei 225 falling 1%, Hong Kong's Hang Seng Index dipping 9.41%, China's Shanghai Composite Index falling 4.59% and India's BSE Sensex gaining 0.72%.

The gauge for Japan's service sector fell to 47.8 in September compared to 49.0 in the prior month. Japan's current account surplus widened to JPY 3,803.6 billion in August from JPY 2,293.8 billion in the year-ago month.

Economics

The NFIB Small Business Optimism Index rose to 91.5 in September compared to 91.2 in August, and down from market estimates of 91.7.
The trade deficit in the U.S. shrank to $70.4 billion in August, recording the lowest level in five months, compared to a revised $78.9 billion gap in July and versus market estimates of a $70.6 billion shortfall.

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