Crude Oil Tumbles 5%; Goldman Sachs Earnings Top Views

Benzinga
2024-10-15

U.S. stocks traded lower midway through trading, with the Dow Jones index falling around 150 points on Tuesday.

The Dow traded down 0.40% to 42,894.69 while the NASDAQ fell 0.93% to 18,331.05. The S&P 500 also fell, dropping, 0.44% to 5,833.93.

Check This Out: How To Earn $500 A Month From Morgan Stanley Stock Ahead Of Q3 Earnings

Leading and Lagging SectorsReal estate shares jumped by 1.5% on Tuesday.

In trading on Tuesday, energy shares fell by 2%.

Top Headline

Goldman Sachs Group Inc. (NYSE:GS) reported revenue of $12.70 billion for the third quarter, beating the consensus of $11.87 billion.

Sales increased 7% Y/Y, reflecting higher net revenues in Global Banking & Markets and Asset & Wealth Management, partially offset by lower net revenues in Platform Solutions. The U.S. financial services giant reported EPS of $8.40, beating the consensus of $7.03.

Equities Trading UP                       

  • Wolfspeed, Inc. (NYSE:WOLF) shares shot up 27% to $14.41 after the company announced it signed a signed a non-binding preliminary memorandum of terms for up to $750 million in proposed direct funding under the CHIPS and Science Act.
  • Shares of MeiraGTx Holdings plc (NASDAQ:MGTX) got a boost, surging 13% to $5.24 after safety and tolerability was confirmed in its gene therapy study for Parkinson’s.
  • Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) shares were also up, gaining 11% to $8.35 following a third-quarter earnings beat.

Equities Trading DOWN

  • Seelos Therapeutics, Inc. (NASDAQ:SEEL) shares dropped 52% to $1.1663. Seelos Therapeutics announced notice of delisting from Nasdaq and transfer of listing to Over-the-Counter Market.
  • Shares of CareDx, Inc (NASDAQ:CDNA) were down 17% to $25.93 as the company reported preliminary results for the third quarter.
  • Pineapple Energy Inc. (NASDAQ:PEGY) was down, falling 18% to $0.1028 after the company announced a 1-for-50 reverse stock split.

CommoditiesIn commodity news, oil traded down 4.9% to $70.19 while gold traded up 0.4% at $2,676.10.

Silver traded up 1.2% to $31.700 on Tuesday, while copper fell 1.4% to $4.3425.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 slipped 0.40%, Germany's DAX slipped 0.01% and France's CAC 40 fell 1.10%. Spain's IBEX 35 Index rose 0.64%, while London's FTSE 100 fell 0.37%.

Asia Pacific Markets

Asian markets closed mostly lower on Tuesday, with Japan's Nikkei 225 gaining 0.77%, Hong Kong's Hang Seng Index falling 3.67%, China's Shanghai Composite Index dipping 2.53% and India's BSE Sensex falling 0.19%.

Economics

The NY Empire State Manufacturing Index declined to -11.9 in October from 11.5 in the previous month and topping market estimates of 3.8.

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