Mid-Afternoon Market Update: Crude Oil Down 1.5%; Reata Pharmaceuticals Shares Spike Higher
|Toward the end of trading Tuesday, the Dow traded up 1.02% to 27061.58 while the NASDAQ rose 1.32% to 8154.54. The S&P also rose, gaining 1.13% to 2,999.59.
Leading and Lagging Sectors
Health Care shares climbed 1.9% on Tuesday. Meanwhile, top gainers in the sector included Relmada Therapeutics, Inc. RLMD 153.36%, up 136%, and Reata Pharmaceuticals, Inc. RETA 55.99%, up 57%.
In trading on Tuesday, consumer staples shares fell 0.4%.
Top Headline
JPMorgan Chase & Co. JPM 3.29% reported upbeat earnings for its third quarter.
JPMorgan reported Q3 earnings of $2.68 per share, beating estimates of $2.45 per share. The company reported sales of $29.3 billion, versus expectations of $28.49 billion.
Equities Trading UP
Westwater Resources, Inc. WWR 72.97% shares shot up 71% to $5.05 after the company reported receipt of first shipment of graphite concentrate.
Shares of Relmada Therapeutics, Inc. RLMD 153.36% surged 136% to $26.40 following a positive clinical readout from the company. New York-based Relmada released top-line data from a Phase 2 study that evaluated its REL-1017-202, chemically dextromethadone, in 25mg once a day and 50mg daily doses as an adjunctive treatment in patients with treatment-resistant depression, or TRD.
Reata Pharmaceuticals, Inc. RETA 55.99% was up, rising 57% to $157.76 after the company announced the results from the moxie registrational trial of omaveloxolone in patient's with friedreich's ataxia met the primary endpoint.
Equities Trading DOWN
Synthesis Energy Systems, Inc. SES 50.68% shares tumbled 52% to $9.43.
Shares of NF Energy Saving Corporation BIMI 35.67% were down 36% to $5.78 after surging 516.44% on Monday.
Yuma Energy, Inc. YUMA 16% was down, falling 20% to $3.64.
Commodities
In commodity news, oil traded down 1.5% to $52.81, while gold traded down 0.8% to $1,485.30.
Silver traded down 1.5% Tuesday to $17.44, while copper fell 0.9% to $2.61.
Euro zone
European shares closed mostly higher today. The eurozone’s STOXX 600 rose 1.11%, the Spanish Ibex Index rose 1.19%, while Italy’s FTSE MIB Index climbed 1.21%. Meanwhile, the German DAX gained 1.15%, and the French CAC 40 rose 1.05% while UK shares fell 0.03%
Economics
San Francisco Federal Reserve Bank President Mary Daly will speak in Los Angeles, California at 3:30 p.m. ET.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.