U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 500 points on Tuesday.
The Dow traded up 2.83% to 39,250.25 while the NASDAQ gained 3.32% to 16,398.32. The S&P 500 also rose, gaining, 2.88% to 5,306.70.
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Leading and Lagging Sectors
Consumer discretionary shares jumped by 2.3% on Tuesday.
In trading on Monday, industrials shares rose by just 0.8%.
Top Headline
3M Company (NYSE:MMM) reported better-than-expected first-quarter 2025 results.
The company reported net sales of $5.95 billion, a decline of 1.0% year-over-year (Y/Y), beating the consensus of $5.781 billion. Adjusted EPS was $1.88, up 10% Y/Y, beating the consensus of $1.77.
3M said it sees 2025 adjusted EPS of $7.60-$7.90 (Vs. cons. $7.75) and additional tariff sensitivity of $(0.20) to $(0.40) per share.
Equities Trading UP
- NovaGold Resources Inc. (NYSE:NG) shares shot up 19% to $3.7093 after the company and Paulson Advisers agreed to acquire Barrick’s 50% stake in Donlin Gold, forming a new partnership to develop the project.
- Shares of Tivic Health Systems, Inc. (NASDAQ:TIVC)got a boost, surging 122% to $7.76 after the company said it held briefings with the White House and FDA, which garnered interest in potential military and defense applications for its product candidates.
- Meiwu Technology Company Limited (NASDAQ:WNW) shares were also up, gaining 120% to $2.73 after the company announced it regained Nasdaq compliance.
Equities Trading DOWN
- Northrop Grumman Corporation (NYSE:NOC) shares dropped 11% to $472.01 after the company reported first-quarter financial results that came up short of analyst estimates and lowered its full-year earnings guidance.
- Shares of Scorpius Holdings, Inc. (NYSE:SCPX) were down 48% to $0.0680. Scorpius Holdings received NYSE American notice of delisting and reported plans to appeal.
- Herc Holdings Inc. (NYSE:HRI) was down, falling 11% to $99.15 following first-quarter results.
Commodities
In commodity news, oil traded up 3% to $65.01 while gold traded down 0.2% at $3,417.60.
Silver traded up 0.8% to $32.77 on Tuesday, while copper rose 1.8% to $4.8155.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 fell 0.24%, Germany's DAX 40 declined 0.16% and France's CAC 40 slipped 0.11%. Spain's IBEX 35 Index rose 0.24%, while London's FTSE 100 rose 0.29%.
Asia Pacific Markets
Asian markets closed mostly higher on Tuesday, with Japan's Nikkei 225 falling 0.17%, China's Shanghai Composite gaining 0.25%, Hong Kong's Hang Seng Index gaining 0.78% and India's BSE Sensex gaining 0.24%.
Economics
U.S. Redbook Index rose by 7.4% year-over-year in the week ending April 19.
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