Dow Surges Over 600 Points; US Durable Goods Orders Fall in April

U.S. stocks traded higher midway through trading, with the Dow Jones index jumping more than 600 points on Tuesday. President Donald Trump announced the extension of the 50% tariffs on Sunday till July 9, which he had initially announced on Friday.

The Dow traded up 1.52% to 42,234.36 while the NASDAQ surged 2.23% to 19,155.16. The S&P 500 also rose, gaining, 1.78% to 5,906.07.

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Leading and Lagging Sectors

Consumer discretionary shares jumped by 2.2% on Tuesday.

In trading on Tuesday, energy stocks rose by just 0.4%.

Top Headline

New orders for manufactured goods dipped by 6.3% to $296.3 billion in April, recording the sharpest decline since Jan. 2024.

Equities Trading UP
           

• SharpLink Gaming, Inc. (NASDAQ:SBET) shares shot up 639% to $49.69 after the company announced a $425 million private placement, where it will use the proceeds to adopt an Ethereum treasury strategy.
• Shares of E2open Parent Holdings, Inc. (NYSE:ETWO) got a boost, surging 25% to $3.21 after the company announced WiseTech Global will acquire them for $2.1 billion in an all-cash deal.
• MAC Copper Limited (NYSE:MTAL) shares were also up, gaining 21% to $12.23 after the company announced Harmony Gold will acquire them for $1.03 billion.

Equities Trading DOWN

• Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) shares dropped 60% to $2.53 after the company reported a patient death in its Phase 2 trial of RP-A501 and voluntarily paused further dosing.
• Shares of NeuroPace, Inc. (NASDAQ:NPCE) were down 34% to $11.70 after the company announced preliminary results from one-year data in NAUTILUS study.
• Savara Inc. (NASDAQ:SVRA) was down, falling 27% to $2.0750 after the company announced it received a refusal to file letter from the FDA for its biologics license application.

Commodities

In commodity news, oil traded down 1.6% to $60.54 while gold traded down 2% at $3,300.00.

Silver traded down 1.3% to $33.190 on Tuesday, while copper fell 1.6% to $4.7590.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.51%, while Spain's IBEX 35 Index rose 0.13%. London's FTSE 100 gained 0.82%, Germany's DAX 40 rose 1.05% and France's CAC 40 rose 0.25% during the session.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei gaining 0.51%, Hong Kong's Hang Seng Index rising 0.43%, China's Shanghai Composite Index falling 0.18% and India's BSE Sensex falling 0.76%.

Economics

• The S&P CoreLogic Case-Shiller Home Price Index increased 4.1% year-over-year in March, following a 4.5% gain in February.
• The FHFA house price index declined by 0.1% in March versus market estimates of a 0.1% increase.
• New orders for manufactured goods dipped by 6.3% to $296.3 billion in April, recording the sharpest decline since Jan. 2024.

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