Crude Oil Gains 3%; US Inflation Eases In April

U.S. stocks traded mixed midway through trading, with the Dow Jones index falling around 200 points on Tuesday.

The Dow traded down 0.49% to 42,203.63 while the NASDAQ gained 1.74% to 19,033.50. The S&P 500 also rose, gaining, 0.86% to 5,894.52.

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Leading and Lagging Sectors

Information technology shares jumped by 2.3% on Tuesday.

In trading on Tuesday, health care stocks fell by 2.5%.

Top Headline

Consumer prices in the U.S. eased faster than expected in April, with fresh tariffs introduced by President Donald Trump appearing not to have a swift and tangible impact on the cost of living.

The Consumer Price Index (CPI) was 2.3% higher compared to a year ago, the Bureau of Labor Statistics said Tuesday, compared to economists’ expectations of 2.4% and the previous reading.

The monthly gain was 0.2%, rebounding from a prior decline of 0.1%, yet falling short of a 0.3% forecasted.

Equities Trading UP
                       

• HCW Biologics Inc. (NASDAQ:HCWB) shares shot up 165% to $14.01 after the company announced it presented studies on HCW9206.
• Shares of Microvast Holdings, Inc. (NASDAQ:MVST) got a boost, surging 33% to $3.1749 after the company reported better-than-expected first-quarter sales results.
• Lobo EV Technologies Ltd. (NASDAQ:LOBO) shares were also up, gaining 116% to $1.6001 after the company issued a year-over-year increase in its FY25 revenue guidance.

Equities Trading DOWN

• Xenon Pharmaceuticals Inc. (NASDAQ:XENE) shares dropped 17% to $29.90 following first-quarter financial results.
• Shares of Affimed N.V. (NASDAQ:AFMD) were down 81% to $0.1345 after Leerink Partners downgraded the stock from Outperform to Market Perform and cut its price target from $5 to $0.39.
• Halozyme Therapeutics, Inc. (NASDAQ:HALO) was down, falling 26% to $49.26. Leerink Partners downgraded Halozyme Therapeutics from Market Perform to Underperform and announced a $47 price target.

Commodities

In commodity news, oil traded up 2.9% to $63.75 while gold traded up 0.8% at $3,253.80.

Silver traded up 1.6% to $33.130 on Tuesday, while copper rose 2.1% to $4.7180.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.12%, while Spain's IBEX 35 Index rose 0.83%. London's FTSE 100 fell 0.02%, Germany's DAX 40 gained 0.31% and France's CAC 40 gained 0.30% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan's Nikkei gaining 1.43%, Hong Kong's Hang Seng Index dipping 1.87%, China's Shanghai Composite Index gaining 0.17% and India's BSE Sensex falling 1.55%.

Economics

The annual inflation rate in the US slowed to 2.3% in April from 2.4% in the previous month and versus market estimates of 2.4%.

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