U.S. stocks traded mostly lower midway through trading, with the Nasdaq Composite falling more than 50 points on Tuesday.
The Dow traded down 0.01% to 49,499.55 while the NASDAQ fell 0.25% to 22,489.25. The S&P 500 also fell, dropping, 0.13% to 6,827.16.
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Leading and Lagging Sectors
Financial shares gained by 0.9% on Tuesday.
In trading on Tuesday, materials stocks fell by 2%.
Top Headline
Medtronic PLC (NYSE:MDT) posted better-than-expected earnings for the third quarter.
The company posted adjusted EPS of $1.36, beating market estimates of $1.33. The company's quarterly sales came in at $9.017 billion, versus expectations of $8.905 billion.
Medtronic affirmed its FY2026 adjusted EPS guidance of $5.62-$5.66, versus market estimates of $5.65.
Equities Trading UP
- OLB Group Inc (NASDAQ:OLB) shares shot up 121% to $0.92 after the company entered into a global partner agreement with PayPal to enhance SecurePay payment gateway platform and accelerate digital payments for small and mid-sized merchants.
- Shares of TG-17 Inc (NASDAQ:OBAI) got a boost, surging 43% to $4.46. The company announced a name change to Our Bond.
- Gaxos.ai Inc. (NASDAQ:GXAI) shares were also up, gaining 37% to $1.44. Gaxos.ai on Tuesday announced that it finalized a deal with Byteplus, the Enterprise Technology Division of ByteDance. ByteDance is the parent company of short-form social media platform TikTok.
Equities Trading DOWN
- Ocular Therapeutix Inc (NASDAQ:OCUL) shares dropped 22% to $6.90. The company announced topline results from the SOL-1 Phase 3 superiority trial of AXPAXLI.
- Shares of Orion SA (NYSE:OEC) were down 14% to $6.14 following fourth-quarter results. Orion posted adjusted loss of 34 cents per share.
- Liminatus Pharma Inc (NASDAQ:LIMN) was down, falling 38% to $0.23 as the company announced pricing of $4.0 million public offering.
Commodities
In commodity news, oil traded down 0.7% to $62.48 while gold traded down 3.1% at $4,887.40.
Silver traded down 6.8% to $72.650 on Tuesday, while copper fell 2.8% to $5.6435.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.22%, while Spain's IBEX 35 Index rose 0.51%. London's FTSE 100 gained 0.41%, Germany's DAX rose 0.43% and France's CAC 40 climbed 0.36% during the session.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei falling 0.42% and India's BSE Sensex gaining 0.21%.
Economics
- U.S. private employers added an average of 10,250 jobs a week during the four weeks ending Jan. 31, compared to 7,750 in the prior period, according to ADP Research.
- The NY Empire State Manufacturing Index declined to 7.1 in February compared to 7.7 in the previous month, and versus market estimates of 7.
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