Gold Gains Over 1%; Amer Sports Posts Upbeat Earnings

Author: Avi Kapoor | May 20, 2025 11:13am

U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 150 points on Tuesday.

The Dow traded down 0.37% to 42,632.71 while the NASDAQ fell 0.43% to 19,132.73. The S&P 500 also fell, dropping, 0.42% to 5,938.36.

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Leading and Lagging Sectors

Utilities shares rose by 0.3% on Tuesday.

In trading on Tuesday, information technology stocks dipped by 0.8%.

Top Headline

Amer Sports, Inc. (NYSE:AS) reported better-than-expected first-quarter FY25 results.

Revenue rose 23% year over year (Y/Y) to $1.47 billion (+26% Y/Y on a constant currency basis), exceeding the consensus of $1.38 billion. Adjusted EPS of 27 cents beat the consensus of 15 cents.

Equities Trading UP
           

• D-Wave Quantum Inc. (NYSE:QBTS) shares shot up 27% to $16.74 after the company announced it launched its Advantage2 quantum system to address problems in optimization, AI, and materials simulation.
• Shares of NeurAxis, Inc. (NYSE:NRXS) got a boost, surging 94% to $4.4150 after the company announced it received FDA 510(K) clearance regarding IB-stim for the treatment of pediatric FAP associated with functional dyspepsia and FD related nausea symptoms.
• Amer Sports, Inc. (NYSE:AS) shares were also up, gaining 17% to $36.59 after the company reported better-than-expected first-quarter financial results and raised its FY25 guidance.

Equities Trading DOWN

• IHS Holding Limited (NYSE:IHS) shares dropped 12% to $5.52 after the company reported weak quarterly earnings.
• Shares of Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) were down 21% to $0.2615 after the company announced a 1-for-15 reverse stock split to regain Nasdaq compliance.
• Tourmaline Bio, Inc. (NASDAQ:TRML) was down, falling 15% to $14.17. The company announced topline results from its ongoing Phase 2 TRANQUILITY trial.

Commodities

In commodity news, oil traded down 0.7% to $62.27 while gold traded up 1.5% at $3,280.60.

Silver traded up 1.5% to $33.005 on Tuesday, while copper fell 0.5% to $4.6455.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.73%, while Spain's IBEX 35 Index rose 1.48%. London's FTSE 100 rose 0.92%, Germany's DAX 40 gained 0.43% and France's CAC 40 climbed 0.71% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan's Nikkei gaining 0.08%, Hong Kong's Hang Seng Index gaining 1.49%, China's Shanghai Composite Index rising 0.38% and India's BSE Sensex declining 1.06%.

Economics

US Redbook Index rose by 5.4% year-over-year in the week ending May 17.

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Posted In: AS EKSO IHS NRXS QBTS TRML